Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$1,712,000
Verizon
Details
Property Type Retail
Sub Type Storefront, Electronics
Square Footage 3,000
Cap Rate 7.5%
NOI $128,367
Occupancy 100%
Tenancy Single
Brand/Tenant Verizon
Lease Type NN
Lease Term 10
Lease Expiration 08/22/2027
Remaining Term 1
Rent Bumps Yes
Lease Options 2, 5 Year Options
Year Built 2017
Acreage 0.400
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 08/23/2017
Ground Lease No
800+ Unit Tenant/Guarantor | 10% Rental Increases
Marketing description
Verizon is the largest wireless telecommunications provider in the United States. The company offers the largest 4G LTE network in America and the nation's largest high-speed 3G network.
The City of Yuma is nestled right in the southwest corner of Arizona, bordering California and Mexico. Home to over 100,000 residents, the population nearly doubles during the winter season. Once a busy river port sending military supplies shipped from California to forts and camps in the Southwest to fight the Apache wars, today Yuma is a winter retreat for thousands of visitors craving its warm, dry and sunny climate.
Investment highlights
- Tenant/Guarantor is One of the Largest Verizon Wireless Retailers in the U.S. with More Than 800 Locations Across 41 States
- 10% Rental Increases Every 5 Years with Multiple Renewal Options
- Newer 2017 Construction
- 47,385 Residents within a 5-Mile Radius - Growing Yuma Trade Area
- Situated Immediately Off the I-8 Freeway, a Major Connector Providing a Direct Route Between Phoenix and San Diego
- Excellent Frontage Along Fortuna Road (20,800 Cars per Day)
- Located in a Dense Retail Corridor Anchored by Fry's Food And Drug, Ace Hardware, and Planet Fitness
- Adjacent to a Top Performing Fry's - This Location is in the Top 75th Percentile for Visits per Placer.ai
- Across from Future Retail Development, Including a New Car Wash and Restaurant
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$128,366.70
$10,697.23/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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