283 Orange Ave Chula Vista, CA 91911-4903
- Turn key restaurants
- 1,126 SF
- 1.44 lot acres
Current Use by Public Records
- Starbucks / Coffee Store / Espresso Bar
Property Details for 283 Orange Ave
- Lot size
- 1.44 lot acres
- Property size
- 1,126 SF
- Zone code
- COMMERCIAL
- Property type
- Turn key restaurants
- APN
- 623-030-10-00
- APU
- 6230301000
Description
This exceptional investment opportunity presents a newly constructed, single-tenant Starbucks drive-thru in Chula Vista, California. Boasting a 10-year NNN lease (commencing September 21, 2023, and expiring September 20, 2033) with a remaining term of 8.8 years, this property offers significant long-term stability. The lease includes 10% rent bumps every five years, ensuring consistent income growth. Situated on a 1.44-acre lot at a hard corner intersection with high visibility (39,900 vehicles per day), the 1,129 square foot building benefits from its location on Orange Avenue, a major thoroughfare connecting Interstates 5 and 805. The property includes 20 parking spaces and is zoned for commercial use (APN: 623-030-10). The current NOI is $200,000, with a pro-forma NOI of $220,000, resulting in a 4.50% cap rate and a pro-forma cap rate of 4.95%. The asking price is $4,445,000. This strategically located property is less than a mile from the Chula Vista Bayfront Development, a large mixed-use project that will further enhance the area's appeal and drive traffic. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity. Year built: 2023. Occupancy is 100%.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chula Vista
- County
- San Diego
- State
- California
- Longitude
- -117.064
- Latitude
- 32.6013
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
