STARBUCKS - OPENING THIS FEBRUARY - NWC MOJAVE VALLEY HIGHWAY & AZTEC ROAD FORT MOHAVE, ARIZONA - LoopNet
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STARBUCKS
NWC MOJAVE VALLEY HIGHWAY & AZTEC ROAD
FORT MOHAVE, ARIZONA
CONSTRUCTION PHOTO
AS OF 11/22/2019
OFFERING MEMORANDUM
OPENING THIS FEBRUARY
LAUGHLIN/
BULLHEAD
INTERNATIONAL
AIRPORT
95
BURGER
KING MCDONALD'S
The information in this package 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. References to square footage or age are
approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the
property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus Millichap. ACT ID Z0070501
MARCUS & MILLICHAP 2 // Starbucks
Executive Summary
FINANCIAL SUMMARY ANNUALIZED OPERATING DATA
Price $2,130,000 Lease Years Annual Rent Cap Rate
Down Payment 100% $2,130,000 1-5 $114,000 5.35%
Cap Rate 5.35% 6 - 10 $125,400 5.89%
Building SF 2,021 SF Options Annual Rent Cap Rate
Net Cash Flow 5.35% $114,000 Option 1 $137,940 6.48%
Year Built 2020 Option 2 $151,734 7.12%
Lot Size .59 Acres Option 3 $166,907 7.84%
LEASE SUMMARY Option 4 $183,598 8.62%
Lease Type Double-Net (NN) Lease
Tenant Starbucks Base Rent $114,000
Guarantor Corporate Net Operating Income $114,000
Roof & Structure Landlord Responsible
Total Return 5.35% $114,000
Rent Commencement Date Februrary 2020
Lease Expiration Date February 2030
Lease Term 10 Years
Rental Increases 10% Every 5 Years
Renewal Options 4, 5 Year Options
MARCUS & MILLICHAP 3 // Starbucks
29,600 CPD
MOHAVE VALLEY HWY
FUEL STATION
BURGER MCDONALD’S
KING
6,300 CPD
AZTEC ROAD
MARCUS & MILLICHAP 4 // Starbucks
29,600 CPD
MOHAVE VALLEY HWY
BURGER 6,300 CPD
KING AZTEC ROAD
MCDONALD’S
FUEL STATION
MARCUS & MILLICHAP 5 // Starbucks
Property Description DEMOGRAPHICS 1-mile 3-miles 5-miles
Population
2023 Projection 4,386 19,370 27,539
2018 Estimate 3,809 16,688 23,764
Growth 2018 – 2023 15.15% 16.07% 15.88%
Households
2023 Projection 1,895 7,741 11,567
2018 Estimate 1,606 6,577 9,842
Growth 2018 – 2023 17.94% 17.70% 17.53%
CONSTRUCTION PHOTO
AS OF 11/22/2019 Income
2018 Est. Average
$61,846 $65,555 $63,675
Household Income
INVESTMENT HIGHLIGHTS 2018 Est. Median
$47,881 $49,742 $48,775
Household Income
»» New 10-Year Lease with Starbucks Corporation
2018 Est. Per
$26,080 $25,835 $26,404
»» Brand New 2020 Construction with a Drive-Thru Capita Income
»» 10% Rental Increases Every 5 Years
»» 23,764 Residents within a 5-Mile Radius
»» Excellent Exposure Along Highway 95 (Mohave Valley Highway), Fort Mohave’s Main
Street with Approx. 29,600 Cars/Day
»» Households Projected to Increase Nearly 18% in Immediate Area by 2023
»» Outparcel to Smith’s Food & Drug
»» Surrounded by Major National Retailers - Smith’s, Safeway, Burger King, CVS,
McDonald’s, O’Reilly Auto Parts, and More
»» Average Household Income Exceeds $65K within a 3-Mile Radius
»» Less Than 2 Miles from Valley View Medical Center, Fort Mohave’s Largest Employer
MARCUS & MILLICHAP 6 // Starbucks
CONSTRUCTION PHOTO
AS OF 11/22/2019
Tenant Overview
Seattle, Washington NASDAQ: SBUX 1985 22,500+ www.starbucks.com
Headquarters Stock Symbol Founded Locations Website
Starbucks is the premier roaster, marketer and retailer of specialty coffee in to their flagship Starbucks Coffee brand, Starbucks also offers goods and services
the world, operating in 69 countries. Formed in 1985, Starbucks Corporation’s under the following brands: Teavana, Tazo, Seattle’s Best Coffee, Evolution Fresh,
common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under La Boulange, Ethos and Torrefazione Italia Coffee.
the symbol “SBUX.” The company purchases and roasts high-quality coffees that Starbucks company-operated stores are typically located in high-traffic, high-
they sell, along with handcrafted coffee, tea and other beverages and a variety of visibility locations. Their ability to vary the size and format of their stores allows
fresh food items, through company-operated stores. Starbucks also sells a variety the Starbucks to locate them in or near a variety of settings, including downtown
of coffee and tea products and license their trademarks through other channels and suburban retail centers, office buildings, university campuses, and in select
such as licensed stores, grocery and national food service accounts. In addition rural and off-highway locations.
MARCUS & MILLICHAP 7 // Starbucks
Location Overview
12 Miles
to Laughlin/Bullhead
International Airport
110 Miles
to Las Vegas, Nevada
191 Miles
to Flagstaff, Arizona
234 Miles
to Phoenix, Arizona
Named for a nearby fort used during the Mohave War in the 19th century, Fort Mohave County for large indoor events. The stadium has a seating capacity of
Mohave is a city in Arizona’s Mohave County. Fort Mohave is a suburb of Bullhead 3,000 stadium-style and 5,000 arena-style.
City, and its recent growth has made it the most populous unincorporated Fort Mohave serves as a prime location for future industrial growth in Mohave
community in Mohave County. County. The Mohave Tri-State Business Park currently has 132 fully improved/
The largest single employer in Fort Mohave is Valley View Medical Center, which shovel ready acres of industrial land ready for development. The location places
opened in 2005. This 102,000-square-foot facility features state-of-the-art industry less than five hours from over eight million potential customers.
technology as well as 38 medical/surgical beds, ten rehabilitation beds, a six- Encompassing 13,470 square miles of various landscapes, lively lakes, and
bed labor and delivery unit, a six-bed intensive care unit, four major operating hardworking business communities, Mohave County is the second largest county
rooms and two procedure rooms. In 2013, Fort Mohave became the home of a in the state of Arizona and the fifth largest in the country. Mohave County is one
200+ acre photovoltaic solar generating plant. Fort Mohave is also home to The of the lowest taxed counties in Arizona and is home to the largest remaining
Mojave Crossing Event Center, the largest stadium within 90 miles, serving all of drivable stretch of Historic Route 66.
MARCUS & MILLICHAP 8 // Starbucks
[ exclusively listed by ]
Jamie A. Medress Mark J. Ruble Chris N. Lind
Senior Managing Director Senior Managing Director First Vice President
602 687 6778 602 687 6766 602 687 6780
jmedress@marcusmillichap.com mruble@marcusmillichap.com chris.lind@marcusmillichap.com
Offices Nationwide
www.marcusmillichap.com
NET LEASED DISCLAIMER
Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows: CONFIDENTIALITY AGREEMENT
By accepting this Marketing Brochure, you agree to treat the information contained herein regarding the lease terms The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended
as confidential and proprietary and to only use such information to evaluate a potential purchase of this net leased to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any
property. other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the
information contained herein the recipient agrees to hold and treat all such information in the strictest confidence.
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you
However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap.
any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation
whatsoever about the accuracy or completeness of any information provided. This offering memorandum has been prepared to provide summary, unverified financial and physical information to
prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information
As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made
completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute any investigation, and makes no warranty or representation with respect to the income or expenses for the subject
for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any property, the future projected financial performance of the property, the size and square footage of the property
obligation to conduct a due diligence examination of this Property for Buyer. and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with
local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
represent the current or future performance of this property. The value of a net leased property to you depends on The information contained in this offering memorandum has been obtained from sources we believe to be reliable;
factors that should be evaluated by you and your tax, financial and legal advisors. however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has
Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation
Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take
of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their
real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must costs and expenses of investigating the subject property.
request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s
past performance at this or other locations is an important consideration, it is not a guarantee of future success. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE
Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may DETAILS.
be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for
the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes,
or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to
market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is
responsible for conducting his her own investigation of all matters affecting the intrinsic value of the property and the
value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should
default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement
tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
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