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28353356
28353357

2301 N 44th St, Phoenix, AZ 85008

$2,666,667
196 days on market
Updated 134 days ago

Arcadia Salad & Go

Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 698
Net Rentable (SqFt) 698
Cap Rate 5.25%
NOI $140,000
Occupancy 100%
Tenancy Single
Brand/Tenant Salad & Go
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 10/01/2042
Remaining Term 16.3
Rent Bumps Yes
Lease Options Three, 5-year
Broker Co-Op No
Class A
Year Built 2004
Buildings 1
Stories 1
Acreage 0.450
Investment Type Stabilized
Lease Commencement 10/22/2022
Sale Condition For sale by owner

Retail | 5.25% CAP | 698 SqFt

Marketing description

  • Top performing Salad & Go with double drive-thru

  • Strong investment grade credit

  • Absolute NNN Ground Lease with zero landlord responsibilities

  • Property ranked in the 78 percentile of all Salad & Go locations nationwide in visitor trip count in the past 12 months (Placer.ai)

  • Rent increases every 5 years

  • 17 years remaining on the primary term

Investment highlights

  • Located at the signalized intersection of 44th and Oak St, which has a combined 65,648 vehicles per day (Newmark)

  • Located at the edge of the Arcadia neighborhood, which is undergoing significant gentrification and residential redevelopment in the adjacent zip codes

  • Anchored by Costco, Target, and Fry’s

  • Immediately adjacent to the #1 Costco Fuel Station in Arizona (Placer.ai)

  • Average HH income = $113,203 (3 mile radius)

Listing Contacts

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$140,000.00
$11,666.67/mo

Valuation Metrics

0
DSCR
5.25%
Cap Rate
5.25%
ROI

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