Wednesday, February 23, 2011
Starbucks Commercial Single Tenant NNN Investment in West Los Angeles
I like this deal - it's a single tenant NNN Starbucks in a great area with high household incomes and lots of new condo construction nearby. Excellent west Los Angeles county location. The picture is this morning at 8:00am, the place was very active with commuters grabbing their morning grande latte.
6.5 cap rate for 18 months, then a 7.25 cap rate for the next 5 years. Corporate Starbucks signature on the lease. This is a solid asset, perfect for a 1031 tax-deferred exchange or for a direct investment giving you a 5x multiple return compared to the 1.25% in the local bank CD. Call me for details. This Starbucks NNN deal will go fast.