Macayo's Mexican Food
6.41% Cap - $3.235M | 29 Year History at Property
Marketing description
CBRE's Net Lease Property Group is pleased to present the opportunity to acquire a single-tenant Macayo's Mexican Food investment opportunity in Phoenix, AZ. Macayo's is one of the Valley's most recognized and enduring restaurant brands, operating at this location since 1997. The offering features an absolute triple-net (NNN) lease with ±8.5 years of remaining term and two (2), five (5) year renewal options.
The Property is strategically positioned on a ±1.58-acre parcel at the hard corner of 48th St and Warner Road in Ahwatukee, one of the Phoenix MSA's most established and affluent infill neighborhoods. The intersection sees ±63,845 VPD, with the I-10 just two minutes east carrying an additional ±191,102 VPD. The surrounding trade area is defined by dominant retail density: Ahwatukee Palms Plaza, a Bashas'-anchored center sits directly across the street, while Ahwatukee Foothills Towne Center (±705,696 SF), Foothills Park Place (±320,744 SF), and an IKEA-anchored power center are all within minutes of the Property. The 3-mile population of ±89,268 supports an average household income of ±$140,673 today, projected to grow to ±$155,161 by 2030.
Investment highlights
- Single-tenant Macayo's investment opportunity featuring an absolute triple-net (NNN) lease with ±8.5 years of remaining term and two (2), five (5)-year renewal options.
- Founded in 1946, Macayo's is one of Arizona's most iconic and longest-running restaurant brands, widely credited with inventing the chimichanga. They currently operate 12 locations throughout the Phoenix MSA. Macayo's has successfully operated at this location since 1997, 29 years at the same corner through multiple economic cycles, reflecting the brand's deep roots in the Ahwatukee trade area.
- Horizon Hospitality, a family-owned restaurant group led by experienced multi-concept franchisee Lucas Farnham, acquired Macayo's in 2024. Since acquiring the brand, Horizon has opened a new Tempe, AZ location and announced an expansion into the Colorado market, demonstrating an operator actively investing in the brand's growth. In addition to Macayo's, Horizon Hospitality also operates Black Bear Diner, Smashburger, and Mici Handcrafted Italian restaurants across Arizona and Colorado.
- The Property sits on a ±1.58-acre parcel in Ahwatukee, one of the Phoenix MSA's most affluent and supply-constrained submarkets, bordered by South Mountain to the north with virtually no remaining developable land. It is also located directly south of the recently renovated 18-hole, par-72 golf course, Ahwatukee Golf Club, driving consistent traffic to this location.
- The Property sits at the signalized intersection of 48th St and Warner Rd (±63,845 VPD) and is 2 minutes west of the I-10 (±191,102 VPD). The 3-mile trade area supports a population of ±89,268 with an average household income of ±$140,673 today, projected to grow to ±$155,161 by 2030.
- Ahwatukee Palms Plaza, a ±133,864-square-foot Bashas'-anchored grocery center, is directly across the street. Ahwatukee Foothills Towne Center (±705,696 SF, anchored by AMC, Best Buy, Ross Dress for Less, and more), Foothills Park Plaza Shopping Center (±320,744 SF, anchored by JCPenney and Mountainside Fitness), and an IKEA-anchored power center with DICK's Sporting Goods, Total Wine, and Life Time Fitness are all within ±5 minutes.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
