20280 Bloomfield Ave, Cerritos, CA 90703

Property Details for 20280 Bloomfield Ave

Year built

2024

Lot size

0.52 lot acres

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new Starbucks located at 20280 Bloomfield Ave, Cerritos, CA 90703. The 1,844 square foot building, constructed in 2024, sits on a 0.52-acre lot and boasts 20 parking spaces. The property benefits from a highly favorable 15-year NNN lease with Starbucks Corporation (investment grade, S&P: BBB+), commencing August 28, 2024, and expiring August 28, 2039. The lease includes six 5-year renewal options and features 10% rent increases every five years, providing significant inflation protection and consistent NOI growth. The current NOI is $270,108, yielding a 3.95% cap rate at the asking price of $6,838,000. This prime location, at the signalized intersection of Bloomfield Avenue and Del Amo Boulevard, enjoys exceptional visibility and accessibility, benefiting from high daily traffic counts (53,400 vehicles) and proximity to a Target store, drawing significant crossover traffic. The property is conveniently located near major thoroughfares, State Highway 91 (325,000 VPD) and Interstate 605 (301,000 VPD), serving Los Angeles and Orange County. The surrounding area boasts strong demographics, including a population of over 599,100 residents and 237,300 employees within a 5-mile radius, with an average household income exceeding $139,297 within 3 miles. The property is zoned CN - Neighborhood Commercial and is not subject to the Los Angeles Mansion Tax. This is a rare opportunity to acquire a limited-management, high-return investment in a densely populated, affluent area of Los Angeles County.

Location Insight

City

Cerritos

County

Los Angeles

State

California

Longitude

-118.06

Latitude

33.8725