Long Term Absolute NNN Sinclair Gas Station 2649 W Indian School Rd
2,895 SF Retail Building Phoenix, AZ 85017 $2,571,428 ($888.23/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN - no landlord responsibilities
- Qualifies for accelerated depreciation
- Extremely busy intersection with over 99,000 combined VPD
- Long term primary lease (±18 years remaining)
- Rental increases every 5 years to hedge against inflation
- Densely populated trade area (±497,805 residents in a 5 mile radius)
EXECUTIVE SUMMARY
INVESTMENT HIGHLIGHTS
• Absolute NNN - no landlord responsibilities
• Long term primary lease (±18 years remaining)
• Qualifies for accelerated depreciation
• Rental increases every 5 years to hedge against inflation
STRONG OPERATOR
• Franchisee operator has been in business for over 16 years
• Strong personal guaranty with guarantor net worth above $29.25M
• Gross annual revenue is over $87M
• Franchisee operates 17 locations
• Extremely high unit level sales
PROPERTY HIGHLIGHTS
• Located adjacent to the I-17 Freeway (±220,585 VPD)
• Extremely busy intersection with over 99,000 combined VPD
• ±1.5 miles from Grand Canyon University (±25,000 students on campus)
• Densely populated trade area (±497,805 residents in a 5 mile radius)
• Absolute NNN - no landlord responsibilities
• Long term primary lease (±18 years remaining)
• Qualifies for accelerated depreciation
• Rental increases every 5 years to hedge against inflation
STRONG OPERATOR
• Franchisee operator has been in business for over 16 years
• Strong personal guaranty with guarantor net worth above $29.25M
• Gross annual revenue is over $87M
• Franchisee operates 17 locations
• Extremely high unit level sales
PROPERTY HIGHLIGHTS
• Located adjacent to the I-17 Freeway (±220,585 VPD)
• Extremely busy intersection with over 99,000 combined VPD
• ±1.5 miles from Grand Canyon University (±25,000 students on campus)
• Densely populated trade area (±497,805 residents in a 5 mile radius)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
2,895 SF
Building Class
C
Year Built
2000
Price
$2,571,428
Price Per SF
$888.23
Cap Rate
5.60%
NOI
$144,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.78 AC
Opportunity Zone
Yes
Zoning
C-3 - C-3 zoning, City of Phoenix
Parking
10 Spaces (3.45 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Signage
- Signalized Intersection
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Sinclair
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Sinclair | - | - | - | - |
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 110-01-015D | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $120,967 |
