Newly built Visalia Starbucks sells for $3.4M

A newly constructed Starbucks double drive-thru in Visalia has been sold for $3.4 million. The sale was arranged by Hanley Investment Group Real Estate Advisors.

The 2,000-square-foot Starbucks was constructed in 2023 on 0.64 acres at 237 West Caldwell Ave. within the Cameron Creek Marketplace, a regional retail and residential development new to the area. It is home to 30 new residences and neighboring businesses such as Jack in the Box, Arco Gas Station with an AmPm convenience store, a national car wash, and future retail.

The new coffee shop is between two signalized intersections —West Caldwell Avenue, South Court Street, and South West Street. The area sees traffic flow of 32,000 cars daily.

The area connects directly to the heavily trafficked retail intersection of West Caldwell Avenue and South Mooney Boulevard, along with the Highway 99 on-ramp, with a combined traffic flow of up to 69,000 cars daily. Additionally, the property is near a prosperous trade area, with an average household income of $101,646 within a one-mile radius, according to a news release.

Hanley Investment Group’s Vice Presidents Sean Cox and Alexander Moore and Executive Vice Presidents Bill Asher and Kevin Fryman represented Stock Five Development, a seller and developer based in Fresno, California. David Mouallem with D.M. Realty Inc. of Los Angeles represented the buyer, a Los Angeles-based private investor.

“We sourced an all-cash 1031 exchange buyer from Los Angeles within just a few weeks of formally marketing the property for sale,” said Cox. “We negotiated a 15-day due diligence period and closed just 20 days after opening escrow.”