Whataburger | 2590 Market St
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Whataburger 2590 Market St
3,800 SF Retail Building Gilbert, AZ 85295 $2,715,000 ($714/SF) 4.60% Cap Rate
Executive Summary
- Single-tenant Whataburger Ground Lease opportunity, offering a corporate modified net ground lease with ±12.5 years of initial lease term remaining and 10% rental increases every five years.
Founded in 1950, Whataburger has ±1,023 restaurants across 14 states stretching from Arizona to Florida (Source: whataburger.com).
- The Property is located across the street from San Tan Village Marketplace – a ±280,559 square-foot shopping center anchored by Sam’s Club and Walmart Supercenter, and down the street from San Tan Village – a ±1,203,000 square-foot high-performing outdoor shopping mall anchored by Dillard’s, Macy’s, Harkin’s Theatres, Dick’s Sporting Goods, Best Buy, and Nordstrom Rack; and San Tan Pavilions – a ±287,000 square-foot shopping center anchored by At Home and Trader Joe’s.
- Approximately two miles south of the Property is the Dignity Health Mercy Gilbert Medical Center, a medical campus with 197 beds and over 1,400 employees (Source: dignityhealth.com).
- Located a ±10-minute drive east of the Property is the Arizona State University Polytechnic Campus, having over 6,000 students enrolled (Source: asu.edu).
- The Property is located within 15 minutes of both the Phoenix-Mesa Gateway Airport (±1,917,911 annual passengers) and the Chandler Municipal Airport.
- Strong demographics surrounding the property, with a population of ±297,743 and average household income of $146,872 in a five-mile radius (Source: Esri).
Founded in 1950, Whataburger has ±1,023 restaurants across 14 states stretching from Arizona to Florida (Source: whataburger.com).
- The Property is located across the street from San Tan Village Marketplace – a ±280,559 square-foot shopping center anchored by Sam’s Club and Walmart Supercenter, and down the street from San Tan Village – a ±1,203,000 square-foot high-performing outdoor shopping mall anchored by Dillard’s, Macy’s, Harkin’s Theatres, Dick’s Sporting Goods, Best Buy, and Nordstrom Rack; and San Tan Pavilions – a ±287,000 square-foot shopping center anchored by At Home and Trader Joe’s.
- Approximately two miles south of the Property is the Dignity Health Mercy Gilbert Medical Center, a medical campus with 197 beds and over 1,400 employees (Source: dignityhealth.com).
- Located a ±10-minute drive east of the Property is the Arizona State University Polytechnic Campus, having over 6,000 students enrolled (Source: asu.edu).
- The Property is located within 15 minutes of both the Phoenix-Mesa Gateway Airport (±1,917,911 annual passengers) and the Chandler Municipal Airport.
- Strong demographics surrounding the property, with a population of ±297,743 and average household income of $146,872 in a five-mile radius (Source: Esri).
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,800 SF
Building Class
B
Year Built
2022
Price
$2,715,000
Price Per SF
$714
Cap Rate
4.60%
NOI
$124,935
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
1.55 AC
Zoning
R-3
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 313-21-979 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $847,843 |
PROPERTY TAXES
Parcel Number
313-21-979
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$847,843
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Whataburger | 2590 Market St
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