788 Main St Willits, CA 95490-3914
- Turn key restaurants
- 0.46 lot acres
Mar 21, 2025
Current Use by Public Records
- Turn key restaurants
Property Details for 788 Main St
- Lot size
- 0.46 lot acres
- Property type
- Turn key restaurants
- APN
- 006-131-37-00
- APU
- 61313700
Description
This fee-simple offering presents a compelling passive investment opportunity: a brand-new, 2,773 square foot Starbucks with a drive-thru, situated on a 0.46-acre lot at 788 S Main St, Willits, CA 95490. The property boasts a new 10-year net lease (NNN) commencing October 1, 2024, with a strong corporate guarantee from Starbucks, the world's largest coffeehouse company. The lease includes a 10% rent increase every five years and five-year renewal options. The property underwent renovations in 2024 and currently generates a net operating income (NOI) of $170,000, representing a 5.35% cap rate on the asking price of $3,177,570. This highly visible corner location in Willits, known as "The Heart of Mendocino County" and "The Gateway to the Redwoods," benefits from its position at a signalized intersection of two major roadways. The property is 100% occupied and represents a limited-responsibility investment with significant long-term growth potential. This is a 1031 exchange eligible property.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Willits
- County
- Mendocino
- State
- California
- Longitude
- -123.352
- Latitude
- 39.4044
- CBSA code
- 46380
- CBSA name
- UKIAH, CA MICROPOLITAN STATISTICAL AREA
