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SWC 67th Ave. & Montebello, Glendale, AZ 85303

PB
CA 01325076
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County
$3,222,222
39 days on market
Updated 38 days ago

Fry's (Kroger) Fuel Station

Details
APN 144-25-001D
Property Type Retail
Sub Type Gas Station
Square Footage 60,113
Net Rentable (SqFt) 60,113
Units 6
Cap Rate 4.50%
NOI $145,000
Occupancy 100%
Tenancy Single
Brand/Tenant Kroger
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/29/2040
Remaining Term 15
Rent Bumps Yes
Lease Options 8,5 year
Broker Co-Op Yes
Year Built 2025
Acreage 1.380
Parking Spaces spaces
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/28/2025
Ground Lease Yes
Ownership fee interest - Ground Lease

Fry's ( Kroger ) Fuel Station- New Construction - Absolute NNN - Ground Lease

Marketing description

***Fry’s offsite fuel Center with Kiosk…..Fry’s grocery is ¼ mile north

Absolute Net

15-year with eight (8) 5-years options

Minimum rent $145,000 with 10% increased starting in year 11 (flat for initial 10 years)

Rent commencement March 17, 2025

Fry's Food Stores has been dominating the grocery market in the Phoenix metro area. In 2023, Fry's achieved nearly $5.6 billion in sales, capturing a 28.32% market share.

This makes Fry's the top grocery retailer in the region, significantly ahead of its closest competitor, Walmart, which holds a 17.83% market share.

Fry's continues to expand its presence, with 93 locations in Maricopa and Pinal counties.

The chain's strong performance is attributed to its wide range of products and competitive pricing, which resonate well with local consumers.

CLUB: Savings on Fuel: Customers can earn Fuel Points by shopping at Fry's stores. For every dollar spent on groceries, customers earn 1 Fuel Point. These points can be redeemed for discounts at Fry's fuel centers, with savings of up to $1 off per gallon.

Convenience: With numerous locations across Arizona, Fry's fuel centers are easily accessible. This makes it convenient for customers to fill up their tanks while running other errands.

Additional Earning Opportunities: Besides groceries, customers can earn extra Fuel Points on prescriptions and gift card purchases. Fry's often runs promotions that allow customers to earn double or even triple points.

Integration with Other Kroger Family Stores: Fuel Points earned at Fry's can also be redeemed at other Kroger Family of Stores fuel centers and participating Shell locations, providing flexibility and more options for savings.

Overall, Fry's fuel centers provide a combination of savings, convenience, and flexibility, making them a valuable resource for consumers.

Investment highlights

Fry’s (Kroger) Fuel Station

Absolute NNN Corporate Ground Lease

New Construction - 15 year Lease, 8.5 Year Options@10% Increases

Glendale, Arizona

Ideal 1031 Exchange Property

No Management Responsibilities

1/4 Mile North of Fry’s Grocer

Dominant Brand in Phoenix Metro

Listing Contacts

PB
CA 01325076
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,000.00
$12,083.33/mo

Valuation Metrics

0
DSCR
4.5%
Cap Rate
4.5%
ROI

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Additional Information

Name
Ryan Sarbinoff
License
AZ BR675146000
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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