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1559 S Gilbert Rd 6,506 SF Retail Building Mesa, AZ 85204 $1,957,000 ($300.80/SF) 5.97% Cap Rate
EXECUTIVE SUMMARY
Popular Restaurant Franchise with Local Roots
Nearly 20 Arizona Locations
±6,506 SF of Building per County: 6,355 SF per Lease Agreement
NNN Lease - Roof + Structure LL Responsibility
Multiple Guarantors - Franchisee Guaranty and Corporate Guaranty
Original 5 year Lease w/ Two 5 Year Renewal Options (Option 1 Formally Exercised)
2.5% Annual Rental Increases
Strategically Located North of the US-60 Interchange on Gilbert Road
Strong East Valley Demographics
Densely Populated with Over 400,000 Residents in a 5-mile Radius
Nearly 45,000 VPD Along Gilbert Roada
Over $200k of Recent HVAC, Roof, and Restaurant Fixture Improvements
Nearly 20 Arizona Locations
±6,506 SF of Building per County: 6,355 SF per Lease Agreement
NNN Lease - Roof + Structure LL Responsibility
Multiple Guarantors - Franchisee Guaranty and Corporate Guaranty
Original 5 year Lease w/ Two 5 Year Renewal Options (Option 1 Formally Exercised)
2.5% Annual Rental Increases
Strategically Located North of the US-60 Interchange on Gilbert Road
Strong East Valley Demographics
Densely Populated with Over 400,000 Residents in a 5-mile Radius
Nearly 45,000 VPD Along Gilbert Roada
Over $200k of Recent HVAC, Roof, and Restaurant Fixture Improvements
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,506 SF
Building Class
B
Year Built
1988
Price
$1,957,000
Price Per SF
$300.80
Cap Rate
5.97%
NOI
$116,833
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.73 AC
Zoning
LC - Commercial
Parking
34 Spaces (5.23 Spaces per 1,000 SF Leased)
Frontage
114’ on S Gilbert Rd
AMENITIES
- Smoke Detector
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Native
- Accommodation and Food Services
- 6,506 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Native | Accommodation and Food Services | 6,506 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 140-61-170 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $150,528 |
PROPERTY TAXES
Parcel Number
140-61-170
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$150,528
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1559 S Gilbert Rd
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