27 John St Salinas, CA 93901-3303

This exceptional investment opportunity presents a 1,250 square foot Starbucks located on a 0.38-acre lot at a signalized corner in Salinas, CA (93901), at 27 John St. The property boasts a prime location with high visibility and accessibility, benefiting from significant commuter traffic due to its proximity to three major thoroughfares (combined 62,669 AADT). Built in 2024 to the latest Starbucks prototype, the building includes six curbside pickup spaces, catering to the increasing popularity of mobile ordering (currently 31% of transactions). The property is strategically situated near Hartnell College (17,000 students) and Cal State University Monterey Bay (7,634 students), as well as Salinas Valley Memorial Hospital (263 beds, 2,312 employees), ensuring a substantial and diverse customer base within a five-mile radius (176,659 residents, $112,694 average annual household income). The 10-year net lease (commencing May 16, 2024, and expiring May 31, 2034) includes 10% rental increases every five years, providing projected growth and a strong return on investment. The tenant, Starbucks Corporation, is a credit-rated, investment-grade tenant with a corporate guarantee, offering significant financial stability. The property's strong financials include a $3,700,000 asking price, a 5.00% cap rate, and a net operating income (NOI) of $185,000. This is a rare opportunity to acquire a high-performing, net-leased Starbucks in a thriving market with significant growth potential. The property is suitable for a 1031 exchange.