Single-Tenant Absolute NNN Leased Investment, Tucson
By the Bucket Leased Investment | Freestanding Building | 6.6% CAP Rate
Marketing description
VOLK COMPANY is pleased to offer the opportunity to acquire the fee simple interest (land building ownership) in a NNN leased, personal guaranteed, freestanding, By the Bucket investment property located in Tucson, Arizona. Redevelopment of the interior of the building was finished May 15, 2022. The tenant is responsible for all aspects of the premises.
The tenant, a “By the Bucket” franchisee, signed a 10-year lease with 2 (5-year) options to extend. Rent increases 10% starting July 1, 2027 providing near term NOI growth for a new owner. The lease features a personal guaranty from the franchisee.
The northeast Tucson trade area has been among the fastest growing areas in the region. The immediate trade area features a strong mix of national retailers and restaurants, including Target, Albertsons, Chick-fil-A, McDonald's, Dutch Bros, Circle K, Popeyes, Chipotle, coming soon Ono Hawaiian BBQ and more.
The subject property is located near the signalized, hard corner intersection of Tanque Verde and Kolb Road which carries more than 68,000 vehicles per day. The surrounding 3-mile trade area is densely populated, with more than 92,000 residents.
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