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10105 W McDowell Rd
Avondale, AZ 85392
Gateway Crossing · Retail Property For Sale
Investment Highlights
- 100% occupied, two-tenant NNN retail asset leased to Boot Barn and OX Korean BBQ
- Both leases feature 10% rental escalations providing a hedge against inflation
- Exceptional I-10 freeway visibility with exposure to 216,000+ vehicles per day
- Boot Barn ranked 82nd percentile in AZ and 84th percentile nationally — top performer
- OX Korean BBQ backed by a $15M LLC Guarantee from experienced restaurant group
- Class A building built in 2017 within one of Avondale's premier retail corridors
Executive Summary
100% Occupied Two-Tenant Retail Asset Anchored By A Publicly Traded Retailer:
• ±24,500 SF retail property leased to Boot Barn (NYSE: BOOT) and OX Korean BBQ.
• Fee Simple Ownership on ±1.48 acres.
• Class A building built in 2017 and strategically positioned within one of Avondale’s premier retail corridors.
Top Performing Tenant And Strong Operator:
• This Boot Barn is top ranked in both the State, and the Country with rankings of 82nd percentile in Arizona and 84th Percentile in the Country.
• Boot Barn executed a 10-year lease extension after expanding its footprint by more than 7,500 SF.
• Boot Barn is a publicly traded tenant with over 500 locations nationwide.
• OX Korean BBQ is operated by an experienced restaurant group with multiple successful concepts throughout the Phoenix MSA. Additionally, the Tenant has a $15M LLC Guarantee.
• The Operator has two other nearby concepts, including the “Number 1 Buffett” next door with sales over $15M annually.
• OX Korean BBQ benefits from the experienced regional operator, proven restaurant group, and demonstrates success within the trade area.
David Harrington
License # BR715518000, CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
• ±24,500 SF retail property leased to Boot Barn (NYSE: BOOT) and OX Korean BBQ.
• Fee Simple Ownership on ±1.48 acres.
• Class A building built in 2017 and strategically positioned within one of Avondale’s premier retail corridors.
Top Performing Tenant And Strong Operator:
• This Boot Barn is top ranked in both the State, and the Country with rankings of 82nd percentile in Arizona and 84th Percentile in the Country.
• Boot Barn executed a 10-year lease extension after expanding its footprint by more than 7,500 SF.
• Boot Barn is a publicly traded tenant with over 500 locations nationwide.
• OX Korean BBQ is operated by an experienced restaurant group with multiple successful concepts throughout the Phoenix MSA. Additionally, the Tenant has a $15M LLC Guarantee.
• The Operator has two other nearby concepts, including the “Number 1 Buffett” next door with sales over $15M annually.
• OX Korean BBQ benefits from the experienced regional operator, proven restaurant group, and demonstrates success within the trade area.
David Harrington
License # BR715518000, CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
24,500 SF
Building Class
B
Year Built
2017
Price
$7,806,000
Price Per SF
$318.61
Cap Rate
6.30%
NOI
$491,784
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.04
Lot Size
14.15 AC
Opportunity Zone
Yes
Zoning
PAD - Planned Area Development
Frontage
67’ on W McDowell Rd
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
- Monument Signage
Property Taxes
| Parcel Number | 102-54-071 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $464,350 |
Property Taxes
Parcel Number
102-54-071
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$464,350
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