301 Sierra St
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301 Sierra St
3,213 SF Retail Building Kingsburg, CA 93631 £2,370,030 (£738/SF) 5% Net Initial Yield
Investment Highlights
- Brand-New Starbucks Drive-Thru, 10-Year NNN Lease – Fresno County, CA
Executive Summary
*International Brand, Corporate Tenancy – Starbucks (Nasdaq: SBUX) the nation's largest purveyor of specialty coffee and tea with over 38,000 stores across 84 countries, a market cap of over $107 billion, revenue of $36 billion in 2023 and investment grade BBB+ S&P credit rating
*Recently Remodeled Building, Brand New NNN Lease – Starbucks opened September 1st, 2024, on a new 10-year lease with 3 additional 5-year options to renew, demonstrating the tenant’s desire for this location
*Outparcel to T-Mobile Customer Experience Center – Starbucks is strategically located adjacent to the T-Mobile Customer Experience Center which opened in 2022 and employs approximately 1,200 people, creating a built-in customer base to the Starbucks in addition to the Highway 99 travelers stopping off in the area
*Freestanding Drive-Thru Building – High-quality, freestanding drive-thru property with Starbucks recently investing significant capital into the site
*Unsurpassed Highway 99 Access, High Traffic Location – Located along the primary thoroughfare within Kingsburg, Sierra St (13,600+ CPD) with easy access to the heavily traveled Highway 99 (69,700+ CPD)
*Recently Remodeled Building, Brand New NNN Lease – Starbucks opened September 1st, 2024, on a new 10-year lease with 3 additional 5-year options to renew, demonstrating the tenant’s desire for this location
*Outparcel to T-Mobile Customer Experience Center – Starbucks is strategically located adjacent to the T-Mobile Customer Experience Center which opened in 2022 and employs approximately 1,200 people, creating a built-in customer base to the Starbucks in addition to the Highway 99 travelers stopping off in the area
*Freestanding Drive-Thru Building – High-quality, freestanding drive-thru property with Starbucks recently investing significant capital into the site
*Unsurpassed Highway 99 Access, High Traffic Location – Located along the primary thoroughfare within Kingsburg, Sierra St (13,600+ CPD) with easy access to the heavily traveled Highway 99 (69,700+ CPD)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,213 SF
Building Class
B
Year Built/Renovated
1993/2024
Price
£2,370,030
Price Per SF
£738
Net Initial Yield
5%
NOI
£118,501
Tenancy
Single
Number of Floors
1
Building FAR
0.13
Land Acres
0.55 AC
Zoning
CH - Commercial
Parking
30 Spaces (9.33 Spaces per 1,000 SF Leased)
Frontage
75 ft on Sierra St
Amenities
- Drive Thru
Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 394-042-13 | Improvements Assessment | £414,344 |
| Land Assessment | £259,197 | Total Assessment | £673,540 |
PROPERTY TAXES
Parcel Number
394-042-13
Land Assessment
£259,197
Improvements Assessment
£414,344
Total Assessment
£673,540
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