Ojos Locos | 9040 Black Canyon
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Ojos Locos 9040 Black Canyon
7,385 SF Retail Building Phoenix, AZ 85051 £3,654,534 (£495/SF) 6.15% Net Initial Yield
Investment Highlights
- 20-Year Absolute NNN Lease | The lease commenced on 7/2/2021 and has ~17 years remaining. The lease carries no landlord responsibilities.
- Attractive Rental Increase Structure | The lease features 2.00% annual rental increases offering an attractive hedge against inflation.
- Corporate Guaranty | The lease features a corporate guaranty from Crazy Eyes Holdings, LLC, the parent company of Ojos Locos.
- Excellent Unit-Level Economics | Please contact listing broker for more details.
Executive Summary
NNN Pro is pleased to present the exclusive listing for an Ojos
Locos located at 9040 North Black Canyon Highway, Phoenix,
AZ 85051. The site consists of roughly 7,385 rentable square feet
of building space on an estimated 0.44-acre parcel of land. This
Ojos Locos is subject to a 20-year Triple Net (NNN) lease, which
commenced 7/2/2021. The current annual rent is $286,526 and
has scheduled increases of 2.00% Annually.
Locos located at 9040 North Black Canyon Highway, Phoenix,
AZ 85051. The site consists of roughly 7,385 rentable square feet
of building space on an estimated 0.44-acre parcel of land. This
Ojos Locos is subject to a 20-year Triple Net (NNN) lease, which
commenced 7/2/2021. The current annual rent is $286,526 and
has scheduled increases of 2.00% Annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,385 SF
Building Class
B
Year Built
2021
Price
£3,654,534
Price Per SF
£495
Net Initial Yield
6.15%
NOI
£224,754
Tenancy
Single
Number of Floors
1
Building FAR
0.39
Land Acres
0.44 AC
Opportunity Zone
Yes
Frontage
243 ft on North Black Canyon Highwa
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 149-13-020 | Improvements Assessment | £0 |
Land Assessment | £0 | Total Assessment | £157,839 |
PROPERTY TAXES
Parcel Number
149-13-020
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£157,839
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Ojos Locos | 9040 Black Canyon
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