Listed by Phoenix Commercial Advisors
$6,376,000
SIGNAL BUTTE & ELLIOT SHOPS
Details
APN 304-15-924
Property Type Retail
Sub Type Shopping Center
Square Footage 7,746
Cap Rate 6%
NOI $382,562
Occupancy 100%
Tenancy Multi
Brand/Tenant She Nail Bar, Swig
Lease Type NNN
Remaining Term 10
Rent Bumps Yes
Lease Options Two (2), Five (5) Year Options for all tenants with rent increases every 5 years
Price per SqFt $823
Year Built 2025
Buildings 1
Stories 1
Acreage 0.880
Investment Type Stabilized
Tenant Credit Corporate Guarantee
Mutli-tenant investment with drive-thru
Marketing description
Signal Butte & Elliot Shops | 6.00 Cap | 7,746 SF | 100% Leased | Drive-Thru
Signal Butte & Elliot Shops is located along Signal Butte Road; situated on the west side; just north of Elliot Road.
Investment highlights
- Brand-new construction with long-term leases to tenants with an established presence in the market
- Strong rental escalations throughout the initial lease terms and option periods
- Swig drive-thru provides retail consumer convenience and future operational flexibility
- Only retail shop building at the signalized hard corner with complementary traffic drivers including Oregano's, Circle K, and Black Rock Coffee
- 100% occupied retail building with three complementary service tenants, eliminating lease-up risk and providing stable income from day one
- Affluent demographic profile with nearly 79,000 people within 3-miles and an average HH income exceeding $154,000, representing substantial purchasing power and consumer spending capacity
- Centrally located in a high growth submarket between Eastmark and Blooming Rock, DR Horton's and Brookfield's master-planned development with another 10,000-plus homes planned just east of the site
- Proximity to ASU's Polytechnic Campus, with over 6,000 full-time students enrolled, which provides a stable customer base for daily retail and dining needs
- Accessible to three major freeways; Loop 202, US-60, and SR-24, with a 5-minute proximity to Mesa Gateway Airport, providing regional accessibility
- Site located within the Elliot Technology Corridor (including Apple, Amazon, Google, Meta, Costco Distribution Center, and more) with approximately 5,700 employees on site occupying 3.6M SF of industrial as of May 2023
Listing Contacts
Listed by Phoenix Commercial Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$382,562.00
$31,880.17/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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