Listed by Matthews
$627,000
Boost Mobile
Details
Property Type Retail
Square Footage 1,980
Net Rentable (SqFt) 1,980
Cap Rate 6.50%
NOI $40,780
Lease Type NNN
Lease Expiration 02/28/2031
Remaining Term 4.6
Price per SqFt $317
Year Built 2002
Acreage 0.140
Lease Commencement 03/01/2026
Ground Lease No
NNN Boost Mobile | 6.50% Cap Rate | ±80,000 VPD | Phoenix, AZ
Investment highlights
- Recent 5-Year Lease Extension: The tenant recently exercised a 5-year lease renewal option, reaffirming its long-term commitment to the location and extending the lease term.
- Established Multi-Unit Operator: The tenant operates multiple locations throughout the Phoenix MSA, demonstrating an established regional presence and operational experience.
- Attractive Rent Growth: The lease structure includes 3% annual rent escalations, providing consistent income growth and a strong hedge against inflation.
- Limited Landlord Responsibilities: The tenant is responsible for maintaining the premises and covering all operating expenses, along with CAM for the Shopping Center, with the landlord responsible only for the structure.
- High-Traffic Intersection: The property is located at the signalized intersection of 59th Avenue and Indian School Road, which experiences approximately ±80,000 vehicles per day, supporting strong consumer exposure.
- Densely Populated Trade Area: The surrounding trade area includes approximately 219,026 residents within a 3-mile radius and 469,714 residents within a 5-mile radius, providing a substantial and established customer base.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
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$--
Annual Cash Flow
$40,779.96
$3,398.33/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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