Long Term Absolute NNN Sinclair Gas Station | 2649 W Indian School Rd
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Long Term Absolute NNN Sinclair Gas Station 2649 W Indian School Rd
2,895 SF Retail Building Phoenix, AZ 85017 £2,025,514 (£700/SF) 5.60% Net Initial Yield
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
£2,025,514
Price Per SF
£700
Net Initial Yield
5.60%
NOI
£113,429
Tenancy
Single
Number of Floors
1
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 Route
- Corner Lot
- Signage
- Signalised 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 | £95,286 |
PROPERTY TAXES
Parcel Number
110-01-015D
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£95,286
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Long Term Absolute NNN Sinclair Gas Station | 2649 W Indian School Rd
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