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31093844
31559679

9895 S Priest Dr, Tempe, AZ 85284

IC
AZ SA713655000
Phoenix Commercial Advisors
CT
AZ SA536326000
Phoenix Commercial Advisors
Listed by Phoenix Commercial Advisors
$4,280,000
90 days on market
Updated 67 days ago

TEMPE CROSSING

Details
APN 308-16-046
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 5,634
Cap Rate 5.2%
NOI $222,596
Occupancy 100%
Tenancy Multi
Brand/Tenant Black Rock Coffee Bar, Goldwater Brewing Co
Lease Type NNN
Price per SqFt $760
Year Built 2021
Acreage 1.310
Tenant Credit Corporate Guarantee, Credit Rated

Retail | 5.20% CAP | 5,634 SqFt

Investment highlights

INVESTMENT HIGHLIGHTS

  • Two tenant, fee simple property sitting on 1.3 acres of well-located real estate along the I-10 & Ray Road corridor – connecting Tempe, Chandler, Phoenix and the strong, affluent sub-market of Ahwatukee

  • High-credit, corporate guaranteed tenancy, with Black Rock Coffee Bar (NASDAQ: BRCB) who has over 175 locations nationally and 55+ locations in Arizona alone

  • Tested location - this Black Rock Coffee is the company’s 13th most trafficked location in the nation, according to Placer.ai

  • Compounding income growth, with all tenants having 10% rent increases every five years in primary term and option periods

  • Dynamic retail intersection with the regional shopping mall Chandler Pavilions just to the southwest and adjacent to the Shoppes at Casa Paloma

  • Notable tenants at the intersection include: Lowe’s, AJ’s Fine Foods, Sam’s Club, Home Depot, Pottery Barn, Ulta Beauty and many more

LOCATION HIGHLIGHTS

  • Strong visibility on Priest Drive & Ray Road with over 66,000 vehicles per day at the intersection

  • Highly affluent trade area with an average household income of nearly $144,000 within a 3-mile radius

  • Located just a 5-minute drive away from Intel Corporation’s 680+ acre Chandler Campus, the company’s second largest site in the U.S., and the largest employer in Chandler with ±11,300 employees

  • Less than a half mile from the I-10, with over 191,000 vehicles per day and connects Tucson to Phoenix

  • Dense neighborhoods surround the property, with nearly 213,000 residents in a 5-mile radius

Listing Contacts

IC
AZ SA713655000
Phoenix Commercial Advisors
CT
AZ SA536326000
Phoenix Commercial Advisors
Listed by Phoenix Commercial Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$222,596.00
$18,549.67/mo

Valuation Metrics

0
DSCR
5.2%
Cap Rate
5.2%
ROI

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Additional Information

Name
Isaiah Clayton
License
SA713655000
Brokerage
Phoenix Commercial Advisors
Brokerage Address
3131 East Camelback Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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