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550 W Lacey Boulevard
Hanford, CA 93230

Price: $2,463,000 CAP Rate: 3.80%
Bldg SF: 2,020 SF Price/SF: $1,219.31
Land SF: 24,450 SF Lease Type: NNN
Year Built: 2015 Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Price: $2,463,000
Bldg SF: 2,020 SF
Land SF: 24,450 SF
Year Built: 2015
CAP Rate: 3.80%
Price/SF: $791.96
Occupancy: $1,219.31
Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Investment Highlights

Brand New 2015 Construction Starbucks Drive-Thru with Ten Years Remaining on the Corporate Guaranteed Lease

 

  • Brand new 2015 construction
  • Corporate guaranteed lease
  • Property includes a drive-thru
  • Starbucks began operating at this location in 2015 on what was originally a ten-year corporate guaranteed NNN lease. Starbucks negotiated an early extension to their original term which now goes through July 31, 2031, with four-5-year options to extend
  • NNN lease with minimal management responsibility

 

Starbucks is the World’s Largest Coffee Chain

 

  • Starbucks features over 31,000 locations throughout more than 70 countries
  • Starbucks employees over 346,000 people
  • Starbucks trades on the NASDAQ under the trading symbol SBUX
  • Starbucks has a number of popular subsidiaries, such as Ethos Water, La Boulange Bakery, Seattle’s Best Coffee, and Teavana
  • Annual revenue exceeds $26 billion
  • 2020 net sales were reported at $6.2 billion, with total assets north of $19 billion

 

Excellent Hanford, CA location

 

  • Ideally located on Lacey Boulevard, east of 11th Avenue
  • Located less than one half of a mile from the Hanford Community Medical Center, and one mile from Adventist Health Hanford
  • Ideally located amongst a sea of national retailers including McDonalds, Rite-Aid, 7-Eleven, Arby’s, Staples, CVS Pharmacy, and 99 Cents Only
  • Strong daily traffic counts exceeding 15,000 vehicles per day

 

Affluent Immediate Demographics

 

  • There are over 12,400 people located within one mile of the property, 64,900 within three miles of the property, and 70,600 within five miles of the property
  • There are over 4,000 households within one mile of the property, 20,900 within three miles of the property, and 22,700 within five miles of the property
  • Average household income eclipses $51,100 within one mile of the property, $65,400 within three miles of the property, and $65,500 within five miles of the property