For Sale
$6,838,000

20280 Bloomfield AveCerritos, CA 90703

High-yield Starbucks NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Brand new 15-year lease with investment-grade tenant.
  • Fee simple ownership with triple-net (NNN) lease; minimal landlord responsibilities.
  • Rare retail opportunity in affluent Cerritos, located in Cerritos Town Center with high barriers to entry.
  • Outparcel to Target, offering excellent visibility, accessibility, a drive-thru, and frontage on State Highway 91 (325,000 vehicles per day).
  • Strong demographics within a 5-mile radius, including a high concentration of six-figure income households.

Property Details for 20280 Bloomfield Ave

Property type
Retail properties, Restaurants
Square Feet
1,844 SF
Year Built
2024
Lot Size (sq. ft)
22,651 SF

Location Insight

City
Cerritos
County
Los Angeles
State
California
Latitude
33.8724552
Longitude
-118.0595907
20280 Bloomfield Ave, Cerritos, California

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20280 Bloomfield Ave
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