Hanley Investment Group Real Estate Advisors recently closed the sale of a single-tenant Starbucks café with a drive-thru in Los Angeles for $3.25 million, representing a 4.57% cap rate. The property, situated just one mile from the University of Southern California campus, was sold by a private investor based in LA and purchased by another private investor from southern California.
EVPs Jeff Lefko and Bill Asher expertly represented the seller while Ryan Sharpe of Kidder Mathews represented the buyer. In just 60 days from initial marketing to closing in December, Hanley facilitated this successful sale by generating multiple offers and securing an all-cash 1031 exchange buyer with quick due-diligence period.
The freestanding building occupied by Starbucks was built in 2017 on a 0.27-acre parcel at Western Avenue and Jefferson Boulevard – both major thoroughfares seeing approximately 50,000 cars per day at their signalized intersection.
