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27318001
27318002

8358 E Broadway Blvd, Tucson, AZ 85710

RG
CA CA: 01753933
Cushman & Wakefield - San Diego, California
Listed by Cushman & Wakefield - San Diego, California
$5,189,760
119 days on market
Updated 1 day ago

Goodwill

Details
Property Type Retail
Sub Type Discount Store, Thrift Store
Square Footage 17,284
Units 1
Cap Rate 6.15%
NOI $319,170
Occupancy 100%
Tenancy Single
Brand/Tenant Goodwill
Lease Type NNN
Lease Term 20.1
Lease Expiration 11/30/2035
Remaining Term 9.5
Rent Bumps Yes
Lease Options Two 5-Year
Price per SqFt $300
Year Built 1973
Year Renovated 2015
Buildings 1
Stories 1
Acreage 1.600
Parking Spaces 65 spaces
Parking Per SqFt 3.76
Investment Type Net Lease
Lease Commencement 10/15/2015

NNN Corporate Guaranteed | New Lease Extension

Marketing description

This Goodwill property offers a NNN corporate guaranteed lease with an executed brand new 10-year lease extension. The tenant has operated at this location for ±10 years and has two 5-year renewal options with annual increases. The property is situated in a major commercial corridor with excellent visibility positioned along E Broadway Blvd (44,714 VPD), a major East-West thoroughfare.

This site has over 3,400 visits in foot traffic per week with +4.3% visits YOY and ranks in the 89th percentile nationwide for visits within the “Clothing” category, per placer.ai. The subject property is situated in a rapidly growing area with a projected population growth of +3.98% within 1 mile radius from 2024-2029, per LoopNet.

Tucson is Arizona’s second-largest city, with an MSA population exceeding 1.03MM and an annual growth rate of approximately 1%. The subject property is in a dense residential area with a population over 113,000 in 3 mile radius. It’s within 1 mile radius of several apartments with over 2,200 units combined and is less than 9 miles from University of Arizona, a top 100 global university with ±53,000 average annual student enrollment.

With over 3,300 independently operated locations, Goodwill has strong brand recognition nationwide.

Watch Property Video: https://vimeo.com/1122465029/a9ac270bfa?share=copy

Investment highlights

  • NNN Corporate Guaranteed Lease

  • ±10 Year Operating History at this Site with Brand New 10-Year Lease Extension Executed

  • Two 5-Year Renewal Options with Annual Increases

  • Projected Population Growth of +3.98% within 1 Mile Radius from 2024-2029, per LoopNet

  • Ranked in 89th Percentile Nationwide for Visits within the “Clothing” Category*

  • Strong Brand Recognition; +3,300 Independent Goodwill Locations

  • Over 3,400 Visits in Foot Traffic per Week with +4.3% Visits YoY*

    *per Placer.ai

Listing Contacts

RG
CA CA: 01753933
Cushman & Wakefield - San Diego, California
Listed by Cushman & Wakefield - San Diego, California

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$319,170.00
$26,597.50/mo

Valuation Metrics

0
DSCR
6.15%
Cap Rate
6.15%
ROI

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Additional Information

Name
Chris Hollenbeck
License
AZ Lic SA584876000
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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