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Whataburger 2590 Market St

3,800 SF Retail Building Gilbert, AZ 85295 £2,144,877 (£564/SF) 4.60% Net Initial Yield

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).

Data Room Click Here to Access

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,800 SF
Building Class
B
Year Built
2022
Price
£2,144,877
Price Per SF
£564
Net Initial Yield
4.60%
NOI
£98,700
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Land Acres
1.55 AC
Zoning
R-3

Amenities

  • Drive Thru

Nearby Major Retailers

Starbucks
MidFirst Bank
U.S. Bank
F45 Training, Inc.
Premier Martial Arts
Carrabba’s Italian Grill
Outback Steakhouse
Portillo's
Mod Pizza
Cafe Rio

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
313-21-979
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£668,948
  • Listing ID: 32826355

  • Date on Market: 15/08/2024

  • Last Updated:

  • Address: 2590 Market St, Gilbert, AZ 85295

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