283 Orange AveChula Vista, CA 91911

Property Details for 283 Orange Ave

Lot size

1.44 AC

Property size (Sq ft)

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%.

• CAP approach

  CAP return

  Valuation

  6%

  $346,961

  6.5%

  $320,272

  7%

  $297,395

• Comparable approach

  Method

  Valuation

  Relative Method

  $459,235

  Geo Method

  $998,722

• Alternative Use

  Use

  Valuation

  Residential

  $270,161

  Hospitality

  $247,466

  Educational

  $205,889

  Medical

  $212,970

  Retail

  $320,272

Location Insight

City

Chula Vista

County

San Diego

State

California

Latitude

32.6013

Longitude

-117.064

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].