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Ukiah Plaza 1212-1214 Airport Park Blvd 11,703 SF 88% Leased Retail Building Ukiah, CA 95482 $7,134,400 CAD ($609.62 CAD/SF) 6.73% Cap Rate
INVESTMENT HIGHLIGHTS
- Starbucks Drive Thru - Value-Add Center – Fee Simple Ownership - Investment-Grade Credit Tenant - NASDAQ: SBUX – Market Cap: $109.84 Billion
- 11,703 SF – 8 Units – 1.58 Acres – Two Buildings
- Average Household Income within 5 Miles: $109,844
- Nearby Retailers Include Costco, Walmart Applebee’s, Michaels, Staples, Panda Express, Dollar Tree, Tractor Supply Co., and FoodMaxx.
- Opportunity to Increase Cash Flow – 1,455 SF Available for Lease-Up
EXECUTIVE SUMMARY
The Snyder Carlton National Net Lease Team in pleased to present an opportunity to purchase a Starbucks drive-thru anchored value-add multi-tenant retail center located in Ukiah, CA which provides upside potential through additional lease up of one vacant unit (1,455 SF). The property comprises of a 1.58-acre lot, and two buildings totaling 11,703 SF. Tenants are a mix of national and local retailers including Starbucks, Verizon, Fantastic Sams, Isi’s Pizza, Phone Clinic, Pest Control, and Las Palmas Mexican Restaurant.
Positioned on the hard corner signalized intersection of Commerce Dr and Airport Park Blvd this property is nearby many national retailers including Costco, Walmart, FoodMaxx Michaels, Staples, Panda Express, Dollar Tree, and Tractor Supply Co. which drives retail synergy and cross shopping opportunities for consumers. The subject property is also located within walking distance of four hotels with over 280 rooms. This is a unique opportunity to purchase a value-add Starbucks drive thru anchored multi-tenant retail center with three national retailers and the ability to increase cash flow through lease up.
Positioned on the hard corner signalized intersection of Commerce Dr and Airport Park Blvd this property is nearby many national retailers including Costco, Walmart, FoodMaxx Michaels, Staples, Panda Express, Dollar Tree, and Tractor Supply Co. which drives retail synergy and cross shopping opportunities for consumers. The subject property is also located within walking distance of four hotels with over 280 rooms. This is a unique opportunity to purchase a value-add Starbucks drive thru anchored multi-tenant retail center with three national retailers and the ability to increase cash flow through lease up.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,703 SF
Building Class
C
Year Built
2007
Price
$7,134,400 CAD
Price Per SF
$609.62 CAD
Cap Rate
6.73%
NOI
$480,264 CAD
Percent Leased
88%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
1.58 AC
Zoning
PDC - Planned Development Commercial
Parking
60 Spaces (5.13 Spaces per 1,000 SF Leased)
Frontage
330’ on Airport Park Blvd.
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 180-080-73-00 | Improvements Assessment | $4,869,517 CAD |
| Land Assessment | $2,264,399 CAD | Total Assessment | $7,133,915 CAD |
PROPERTY TAXES
Parcel Number
180-080-73-00
Land Assessment
$2,264,399 CAD
Improvements Assessment
$4,869,517 CAD
Total Assessment
$7,133,915 CAD
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Ukiah Plaza | 1212-1214 Airport Park Blvd
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