Listed by Matthews
$4,454,000
Red Robin - Peoria, AZ
Details
APN 20053028H
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 6,324
Net Rentable (SqFt) 6,324
Cap Rate 6%
NOI $267,262
Occupancy 100%
Tenancy Single
Brand/Tenant Red Robin
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/28/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Four (4), 5-Year Renewals
Year Built 2002
Year Renovated 2015
Stories 1
Acreage 1.480
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/05/2024
Ground Lease No
Phoenix MSA | Across from MLB Spring Training Complex | Ultra-Dense Retail Corridor
Investment highlights
- Trophy Outparcel Location Across from MLB Spring Training Facility - positioned at the intersection of N 83rd Ave & W Paradise Ln, & less than a mile from Arizona State Route 10 with a combined 172,980 vehicles per day (VPD), offering great access off of the interstate; prime location on a signalized corner near a top visited shopping center in Arizona, capturing increased daily traffic.
- Phoenix MSA | AZ's Most Populated County | Consistent Population Growth - Maricopa County is home to 4.6M+ residents, which ranks #1 in the state & accounts for more than 60% of Arizona's total population. Located 15 miles from Phoenix, Peoria is one of the most desirable & consistently growing cities within the Phoenix MSA.
- Ultra-Dense Retail Corridor | Surrounded by Prominent National Retailers - including Target, Old Navy, Dick's Sporting Goods, TJ Maxx, Chick-fil-A, In-N-Out, McDonald's, Starbucks, Chipotle, & most other prominent retailers.
- Over 2M+ SF of Retail within a 1-Mile Radius
- Adjacent to Arrowhead Towne Center | Centralized Shopping Hub - located near one of AZ's most visited regional malls, drawing more than 10M+ annual visitors & serving as the dominant retail destination in Phoenix's rapidly growing West Valley.
- Across from MLB Spring Training Facility - across from the Peoria Sports Complex, the Spring Training home of the San Diego Padres & the Seattle Mariners, benefits from a major seasonal draw that attracts of 212k+ annual visitors.
- Long-Term 13-Year Absolute NNN Lease - zero Landlord responsibilities.
- Lease Term: 13 Years
- Guarantor: Red Robin International, Inc.
- Increases: 10% Every 5 Years (March 2029)
- Options: Four (4), 5-Year Renewals
- Attractive Future Uses | Large Building & Lot Size - existing 6,324 SF building on 1.48 Acres creates future flexibility & various future uses for investors.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$267,262.00
$22,271.83/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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