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Peet's Coffee NNN 402 3rd St

1,786 SF Retail Building San Rafael, CA 94901 £1,956,125 (£1,095/SF) 5.51% Net Initial Yield

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Investment Highlights

Rare Marin County NNN Leased Investment.
Long Term Lease | 8+ years Remaining.
Directly Across the Street From Marin's Premier Neighborhood Shopping Center: Montecito and adjacent to Whole Foods.

Strong Corporate Guarantee from a Credit Tenant.
Nearby National Tenants include: Whole Foods, Trader Joe's, Chipotle, Rite Aid, Petco.

Executive Summary

Meridian Commercial is pleased to present the opportunity to acquire the fee simple interest in the Peet's Coffee located at 402 Third Street, San Rafael, Marin County, CA. The subject property is ±1,786 square feet that sits on .23 acres of land and has approximately 23 parking spaces. Peet's Coffee has been a long-term tenant in this original location for over 20+ years since 2004.
Located in the City of San Rafael, Marin County, California; Peet's Coffee benefits from excellent exposure and access off Highway 101 at the corner of 3rd Street and Grand Street. One of the busiest intersections in the City of San Rafael, and all of Marin County. Peet's Coffee benefits from its immediate proximity to Whole Foods, Trader Joe's, Chipotle, Rite Aid, Petco, Dollar Store, United Market, and Chevron. San Rafael is the largest city in Marin County offering numerous local employment opportunities, in addition to providing an easy commute to San Francisco. Perfect NNN 1031 exchange property that rarely becomes available in the high barrier market of Marin County.

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Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Fast Food

Building Size

1,786 SF

Building Class

Year Built

1969

Price

£1,956,125

Price Per SF

£1,095

Net Initial Yield

5.51%

NOI

£107,704

Tenancy

Single

Number of Floors

Building FAR

0.18

Land Acres

0.23 AC

Zoning

N/Av, San Rafael

Parking

23 Spaces (12.88 Spaces per 1,000 SF Leased)

Frontage

105 ft on Third St

Amenities

Signage

MAJOR TENANTS

Accommodation and Food Services
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For over fifty years Peets has been dedicated to crafting the perfect cup. This endeavor shapes every step of their process, from partnering with farmers to roasting by hand, so consumers can drink the best, freshest coffee knowing it’s from a company that cares. They source coffee beans from the world’s best growing regions in a way that honors farmers, respects the environment, and recognizes the role of communities. On April 1, 1966, Alfred Peet first opened the doors of his coffee store in Berkley, CA, and quietly ignited a revolution that forever changed the expectations of American coffee drinkers.