WABA HAIR & BEAUTY SUPPLY
Retail | 7.00% CAP | 7,000 SqFt
Marketing description
Waba Hair & Beauty Supply at 6175 S 35th Ave, Phoenix, AZ presents an exceptional single-tenant net lease investment in one of Phoenix’s growing retail corridors. This ±7,000 SF freestanding building, constructed in 2014 and situated on a generous ±40,000 SF lot, offers strong street presence and excellent accessibility near the high-traffic intersection of 35th Avenue and Southern Avenue. The property is leased on an absolute NNN basis, creating a passive ownership opportunity with no landlord responsibilities. The tenant is an established Arizona-based retailer with seven locations and decades of operating history, providing added confidence in long-term occupancy. Surrounded by national and regional retailers and supported by strong area demographics and continued population growth, this asset combines dependable cash flow, strategic infill location, and future upside at lease expiration with no renewal options.
Investment highlights
- Waba Hair & Beauty Supply operates under an absolute triple-net (NNN) lease, ensuring no landlord responsibilities.
- 6-year lease term commencing on February 1, 2025, expiring on January 31, 2031.
- Rent escalates from $84,000 annually for Year 1 to $136,990 annually for Year 2, and then 3% annual increases throughout the remainder of the initial term.
- Positioned in a high-traffic area of Phoenix, Arizona, benefiting from strong visibility and consumer demand.
- The property includes 7,000 SF of building space on a 40,000 SF lot, providing ample parking and accessibility.
- Experienced Tenant with 7 locations between Phoenix, Arizona and Tucson, Arizona.
- Tenant has 15 days from the date of seller receiving an offer to exercise its right of first refusal.
- The lease includes no renewal options, allowing the investor full control of the property at lease expiration in 2031. This opens the door for re-leasing at market rates, strategic tenant repositioning, or redevelopment potential in a high-traffic Phoenix corridor.
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