A single-tenant Starbucks café and drive-thru in Pomona recently sold for nearly $5 million.

A private investor purchased the property from LA Icon. Hanley Investment Group’s Executive Vice President Bill Asher and Executive Vice President and Partner Jeff Lefko represented the seller in the transaction. Freeman & Associates’ Brad Freeman represented the buyer, which was completing a 1031 exchange.

“We procured a repeat Southern California-based 1031 exchange buyer through a broker relationship, both of whom we have successfully transacted with on multiple occasions,” Asher said in a statement. “We secured the buyer within days of closing their downleg, allowing them to confidently identify an upleg and close escrow early into their 1031 exchange period.”

The property

The Starbucks, at 2302 N. Garey Ave. in Pomona, is a 1,650‑square‑foot building. It was initially built in 1977 and renovated in 2024. It secured a drive-thru entitlement before the city enacted a drive-thru prohibition, restricting drive-thrus.

“This entitlement alone creates significant long-term value and barriers to entry,” Asher said in a statement.

Starbucks has a 15-year triple-net lease at the property. It also has 10% rental increases every five years during the primary term of its lease and three five-year options.

“This is a rare 15-year primary lease term with no early termination right, signaling strong long-term commitment to the site,” Asher said in a statement. “The buyer also benefitted from a lease structure that Starbucks was responsible for maintaining the property including the roof, a unique characteristic for a fee-simple Starbucks investment in California in today’s market.”