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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.

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

Fuddruckers
Denny's
First Watch
Outback Steakhouse
LongHorn Steakhouse
Buffalo Wild Wings
Olive Garden Italian Rstrnt
Jason's Deli
Red Lobster
Red Robin

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
149-13-020
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£157,839
  • Listing ID: 33039669

  • Date on Market: 03/09/2024

  • Last Updated:

  • Address: 9040 Black Canyon, Phoenix, AZ 85051

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