Listed by Marcus & Millichap - San Diego
$2,833,333
ANGIE’S PRIME GRILL w/ DRIVE THRU | LONG TERM NNN LEASE
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,200
Cap Rate 6%
NOI $170,000
Tenancy Single
Brand/Tenant Angie's Prime Grill
Lease Type NNN
Lease Expiration 05/30/2040
Remaining Term 13.9
Rent Bumps Yes
Class A
Year Built 2022
Year Renovated 2025
Acreage 0.460
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
68k+ VPD | Dense Phoenix Trade Area
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:
https://themansourgroup.com/properties/310723/angies-prime-grill-w-drive-thru
Investment highlights
- Long Term NNN Lease Featuring Above Average 12.5% Rental Increases Every 5 Years throughout the Initial Term and Options. Site Features a Drive-Thru. Recent Complete Interior/Exterior Renovation.
- Co-Located with CVS, Goodwill and Fry’s: Angie’s Sits within the Same Retail Center as a CVS Pharmacy and Goodwill. It is Directly Across the Intersection from a Fry’s Food and Drug, Driving Strong Daily Cross-Shopping Traffic.
- Growing Multi-Concept Regional Brand: Angie’s Operates 24+ Locations Across Arizona, Nevada, and Texas, Combining Prime Grill, Lobster, Burger, and Chicken Concepts Under One DriveThru-Forward Format with Strong Repeat Customer Demand.
- $850 Million Metropolitan Redevelopment Next Door: the Property Sits Roughly a Quarter-Mile from The Metropolitan, an $850 Million, 64- Acre Mixed-Use Transformation Of the Former Metrocenter Mall Site.
- North Mountain Village Retail Submarket: the Site is Part Of North Mountain Village, Home to more than 55 Other Active Retail Listings, Reflecting an Established Commercial Ecosystem
- Densely Populated and Affluent Trade Area: Features an Average Household Income of more than $87k and over 464k People Residing within a 5-Mile Radius.
- I-17 Freeway Employment Corridor within 1 Mile — the Property Sits Approximately 1 Mile East Of the I-17 Freeway Employment Corridor, Capturing Daytime Workforce and Commuter Traffic Near Black Canyon Freeway Interchanges.
- Positioned Along Area’s Major Traffic & Retail Corridor. Features Easy Access & Excellent Visibility Near a Signalized Intersection w/ Daily Combined Traffic Counts Exceeding 68k Vehicles. Near Interstate-17 (217k+ VPD).
- Strong Regional Population Growth: Metro Phoenix Continues To Rank Among the Fastest Growing Major Metro Areas Nationally, Fueling Sustained Rooftop Expansion and Long-Term Consumer Demand Across the Region
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$170,000.00
$14,166.67/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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