2050 Alessandro Blvd Riverside, CA 92508

Property Details for 2050 Alessandro Blvd

Year built

2024

Lot size

0.96 lot acres

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, single-tenant Starbucks located at 2050 E Alessandro Blvd, Riverside, CA 92508. The property boasts a 928 square foot building on a 0.96-acre lot, constructed in 2024, featuring a drive-thru and walk-up window. The property benefits from a strong 10-year lease commencing November 15, 2024, and expiring February 28, 2035, with four 5-year renewal options, each including a 10% rent increase. The current Net Operating Income (NOI) is $145,000, representing a 5.00% cap rate on the $2,900,000 asking price. This strategically positioned location enjoys excellent visibility and accessibility at a signalized intersection with high daily traffic counts (51,400 CPD on East Alessandro Boulevard and San Gorgonio Drive, and convenient access to Interstate 215 with 162,000+ CPD). The property benefits from its proximity to major employment centers, including Sycamore Canyon Business Park (12.6M SF) and Meridian Business Park (16M SF), home to numerous national tenants such as Amazon, UPS, and Kroger, ensuring a substantial daytime population and consumer base. The affluent trade area boasts over 240,500 people within a 5-mile radius, with an average household income exceeding $111,000 within 3 miles. The property is also adjacent to Farmer Boys and the Riverside County Office of Education. This is a rare opportunity to acquire a high-performing, triple-net (NNN) leased asset anchored by a globally recognized brand with a strong financial profile. The lease is a corporate guarantee from Starbucks (NASDAQ: SBUX; S&P: BBB+), eliminating early termination risks.

Location Insight

City

Riverside

County

Riverside

State

California

Longitude

-117.295

Latitude

33.9168