Listed by Volk Company Commercial Real Estate
$7,000,000
Peter Piper Pizza
Details
APN 127-13-051D
Property Type Retail
Sub Type Restaurant
Square Footage 30,086
Cap Rate 5.70%
NOI $400,840
Occupancy 70%
Lease Type NNN
Lease Term 10
Remaining Term 7
Lease Options 5 year
Pro-Forma Cap Rate 5.70%
Pro-Forma NOI $400,840
Lot Size (SqFt) 80,168
Zoning C-1
Investment Type Net Lease
Ownership Fee Simple (Land and Building)
Retail | 5.70% CAP | 30,086 SF
Marketing description
Volk Company is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a net leased, corporate guaranteed Peter Piper Pizza investment property located in Tucson, Arizona. Peter Piper Pizza is a 129 location, 51-year-old concept. The tenant Peter Piper Pizza, LLC, a subsidiary of CEC Entertainment, LLC and a sister company of Chuck E. Cheese signed a 10-year lease with two, five-year options to extend. The subject property is located directly across the street from Park Place Mall (Tucson's most dominant regional mall) on the busiest stretch of Broadway Boulevard (Tucson's #1 East/West arterial) with a 5-mile population density of over 250,000. This high-profile location is surrounded by restaurants, entertainment and retailers such as Yard House, Long Horn Steakhouse, Cinemark, Round 1 bowling, Dillard's, Total Wine, H&M and many more.
Investment highlights
- Directly across the street from the main entrance to Park Place Mall, Tucson's dominant regional mall with phenomenal mix of retail, restaurants and entertainment
- Strong Corporate lease guaranty
- Rare vacancy on highly visible Broadway Boulevard
- Huge monument sign (vacancy has rights to the Verizon monument sign)
- Outstanding frontage, visibility and access to Broadway Boulevard
- High profile added value opportunity
Listing Contacts
Listed by Volk Company Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$400,840.00
$33,403.33/mo
Valuation Metrics
0
DSCR
5.73%
Cap Rate
5.73%
ROI
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