northern california starbucks pad - capital pacific yuba city starbucks | 2. the subject property is...
TRANSCRIPT
starbucks recently extended lease for ten years after ten years at this location [ www.CapitalPacific.com ]
northern california Starbucks pad A two tenant retail property
510 Bogue Rd., Yuba City, CA 95993
RentABle SF . . . . . . . . . . . . . . . 3,000 SF
lAnd AReA . . . . . . . . . . . . . . . . 0 .61 Acres (26,571 SF)
YeAR BUIlt . . . . . . . . . . . . . . . 2006
OCCUPAnCY . . . . . . . . . . . . . . . 100%
tenAntS . . . . . . . . . . . . . . . . . Starbucks & York’s
PRICE: $2,146,000CAP: 5.00%
Listing TeamContact Info
Dave Lucasdlucas@capitalpacific .com | (415) 274-7390CA BRE# 01389761
PROperty Summary
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TROPHY STARBUCKS TwO TEnAnT BUIldIng AT HIgH TRAffIC CORnER In dESIRABlE nORTHERn CAlIfORnIA. nEwlY REnOvATEd, HIgH vOlUmE STARBUCKS, fAnTASTIC TRAffIC COUnTS & STROng RETAIl SYnERgY. STARBUCKS jUST SIgnEd A 10 YEAR lEASE ExTEnSIOn.
Starbucks has been at this location since 2005.
yuba city StarbuckS | 2
THE SUBjECT PROPERTY IS A PAd wITHIn A gROCERY AnCHOREd nEIgHBORHOOd SHOPPIng CEnTER, wITH lImITEd COmPETITIOn In THE SURROUndIng AREA.
lOng-teRm CORPORAte tenAnt The corporate Starbucks store has been in its location since 2005 . Starbucks has recently exercised its two consecutive 5 year options, which extend the term of the lease for an additional ten years commencing on May 1, 2016 . There is a 12% rent increase every five years on the Starbucks lease .
hIgh tRAFFIC COUntS The site is located on the intersection of Bogue Rd ., (17,410 VPD) and Garden Hwy, (11,450 VPD) . Highway 99 is a mile west of the site and has 32,500 VPD .
exCellent ACCeSS And vISIBIlItYThe subject property is located at a signalized intersection of Garden Hwy and Bogue Rd . The site has prominent visibility from both roads and outstanding ingress/egress . There is dedicated left hand turn access into the site from Bogue Rd .
SmAll FORmAt gROCeRY AnChORed CenteRCenter is anchored by a 10,000 SF small format grocery store/Chevron Station .
Well mAIntAIned & ReCent CAPItAl ImPROvementSThe attractive, 2006 construction offers tremendous curb appeal and a handsome building facade . The building was recently improved with aesthetic updates including new high quality Evershield paint, with redesigned color palette, stone tile, landscaping, improvements and new parking lot sealing and striping . A new monument sign is to be installed in the second quarter of 2016 .
exCellent RetAIl lOCAtIOn WIth lImIted COmPetItIOnLocated at the southwest corner of Garden Hwy and Bogue Rd, the subject property serves a dense residential population in the southeast quadrant of Yuba City with limited retail competition in the surrounding area .
118,961 Residents within a 5-mile radius of the subject property
core characteristics
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Aerial
Colusa highway
golden State highway
garden highway
Bogu
e Ro
ad
Bogue Road
linc
oln
Road
Fran
klin
Roa
d
Franklin Avenue
9999
20
20SUTTER COUNTY
AIRPORT
Park Avenue elementary
Riverbend elementary
Butte vista elementary
Bridge Street elementary
St. Isadore Catholic School
Yuba City Charter School
gray Avenue middle Schoollincrest
elementary
lincoln elementary
Andros Karperos School
Yuba City high School
River valley high School
YUBA SUtteR mAll
YUBA CItY mARKetPlACe
SACRAMENTO
99
17,410 DAILY
RetAIl OASIS lOCAtIOn WIth lImIted RetAIl COmPetItIOn In the SURROUndIng AReA
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hESPERIAN CENTER
StARBUCKS IS lOCAted On BOgUe Rd WIth 17,410 vPd And IS One mIle FROm hIghWAY 99 WIth 32,500 vPd
32,5
00 D
AIL
Y
99
99
traffic counts
BOGUE ROAD
17,410 DAILY
GARDEN hW
Y11,450 D
AILY
tRAFFIC COUntS
Bogue Rd: 14,410 VPD
Highway 99: 32,500 VPD
Garden Hwy: 11,450 VPD
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site plan
Bogue Road
gard
en h
ighw
ay
mOnUment SIgn
NOT A PART
SIte PlAn KeYPARCEL LinES:
SuBjECT PRoPERTY:
BuiLDinG AREA: 3,000 SF
inGRESS/EGRESS:
17,410 dAIlY
LOI PENDING
Shan
ghai
Res
taur
ant
11,4
50 d
AIl
Y
ven
US n
AIlS
Unde
R lO
I
Unde
R lO
I
Unde
R lO
I
vACA
nt
+/- 1
,503
SF
yuba city StarbuckS | 6
income & expense
CurrentCurrentCurrentCurrent
Price: $2,146,000
Capitalization Rate: 5.00%
Price Per Square Foot: $715.33
Down Payment 50% $1,073,000
Loan Amount 50% $1,073,000
Total Leased (SF): 100.00% 3,000
Total Vacant (SF): 0.00% 0
Total Rentable Area (SF): 100.00% 3,000
INCOMEINCOMEINCOMEINCOME Per Square FootPer Square FootPer Square FootPer Square FootScheduled Rent* $35.76 $107,280
Estimated Recovery $6.00 $18,000
EFFECTIVE GROSS INCOMEEFFECTIVE GROSS INCOMEEFFECTIVE GROSS INCOMEEFFECTIVE GROSS INCOME $125,280$125,280$125,280$125,280Market Vacancy Reserve (0%) $0
ADJUSTED GROSS INCOMEADJUSTED GROSS INCOMEADJUSTED GROSS INCOMEADJUSTED GROSS INCOME $125,280$125,280$125,280$125,280
TOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSES ($18,000)($18,000)($18,000)($18,000)Property taxes NNN
Insurance NNN
Common Area Expenses NNN
NET OPERATING INCOMENET OPERATING INCOMENET OPERATING INCOMENET OPERATING INCOME $107,280$107,280$107,280$107,280
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
yuba city StarbuckS | 7
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
rent roll100%LeaSed untiL
mid 2021
COMMENTS
Tenant Sq. Ft. Percent of Lot Monthly RentAnnual
RentRent/FT/YR Comments
Starbucks (corporate) 1,800 60.00% 05/01/05 04/30/26 $5,940.00 $71,280.00 $39.60
Increase 05/01/21 04/30/26 $6,652.50 $79,830.00 $44.35
Option 1 05/01/26 04/30/31 $7,450.50 $89,406.00 $49.67
Option 2 05/01/31 04/30/36 $8,346.00 $100,152.00 $55.64
Option 3 05/01/36 04/30/41 $9,346.50 $112,158.00 $62.31
Option 4 05/01/41 04/30/46 $10,468.50 $125,622.00 $69.79
Yorks Yummies 1,200 40.00% 03/27/15 08/31/21 $3,000.00 $36,000.00 $30.00
Increase 09/01/17 08/31/18 $3,075.00 $36,900.00 $30.75
Increase 09/01/18 08/31/19 $3,150.00 $37,822.50 $31.52
Increase 09/01/19 08/31/20 $3,230.00 $38,768.06 $32.31
Increase 09/01/20 08/31/21 $3,320.00 $39,737.26 $33.11
Current Totals: 3,000 100.00%
Occupied 3,000 100.00% Monthly Rent : $8,940.00
Vacant 0 0.00% Annual Rent: $107,280.00
Net Lease
Net Lease
RENTal RatesLEASE TERMS
Term
12%rent increaSe in
2021 and in the optionS
yuba city StarbuckS | 8
York’s Yummies is a local sandwich and soup shop . They offer a variety of delicious sandwiches, salads and hot soups for either sit-down dining or to-go . They get all their produce from the local farmer’s market and SYSCo . York’s Yummies also offers catering services for all sorts of groups, from young kids to teens and adults .
tenants
The world’s #1 specialty coffee retailer, Starbucks has more than 12,521 coffee shops in the uS . The outlets offer coffee drinks and food items, as well as roasted beans, coffee accessories, and teas . Starbucks markets its coffee through grocery stores and licenses its brand for other food and beverage products . Starbucks plans to continue its rapid expansion of retail operations, grow its specialty sales, and selectively pursue opportunities to leverage the Starbucks brand through the introduction of new products and the development of new distribution channels .
gROSS RevenUe$19.1 Billion
net InCOme $2.76 Billion
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photos
Subject property is a part of a larger grocery anchored
center
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regional map
Yuba City Location
23,2
00 D
AIL
YSAn FRAnCiSCo
BAY AREA
SACRAMEnTo
YuBA CiTY
48 Min42 MiLES
tRAFFIC COUntS In exCeSS OF 17,000 vPd On BOgUe Rd.
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YUBA CItY, CA
Yuba City is the seat of Sutter County in northern California and the principal city of the Yuba City Metropolitan Statistical Area, which has a total population of 164,138 (the 21st largest metropolitan area in CA) .
The top industries in the city include retail, healthcare and agriculture . Sunsweet Growers incorporated, the largest dried fruit processing plant in the world is located here and is one of the city’s top employers .
SACRAmentO, CA
Yuba City is also only 45 minutes from Sacramento, the capital of California, the sixth-largest city in the state and the 35th largest city in the united States .
The urban Sacramento area has a population of 1 .44 million while the Sacramento metropolitan area -- which includes seven counties -- has an estimated population of 2 .66 million .
Government and transportation are key sectors of the economy . Technology-related companies such as intel and Hewlett-Packard have increasingly been drawn to Sacramento based on proximity to research centers and a well-educated labor pool . other economic drivers include health services, hospitality, education & construction .
2015 hOUSEhOLD INCOMES
1-Mile 3-Mile 5-Mile
2010 11,104 51,991 116,7482015 11,011 52,237 118,9612020 11,004 52,674 121,524
1-Mile 3-Mile 5-Mile
Average $73,699 $62,449 $59,880
POPULATION
Employer # of Employees*Fremont-Rideout Health Group 1,850Yuba City unified School District 1,316Sutter County 970Sunsweet Growers 670*Approximate
TOP EMPLOYERS IN YUBA CITY
location
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[ www.CapitalPacific.com ]
dAve lUCASdlucas@capitalpacific .com | (415) 274-7390 CA BRE# 01389761
[ Copyright © 2016 Capital Pacific ]
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