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Sunday Goods - Long Term Abs NNN Lease 1616 E Glendale Ave 1,926 SF Retail Building Phoenix, AZ 85020 $4,074,215 ($2,115.38/SF) 9% Cap Rate
Investment Highlights
- Absolute NNN Lease – zero landlord responsibilities
- Attractive 3% annual increases
- Parent company guaranty
- ±9 years remaining on primary lease term
- Fully renovated in 2019
- 10.16% Average Cap rate for the primary lease term
Executive Summary
INVESTMENT HIGHLIGHTS
• Absolute NNN Lease – zero landlord responsibilities
• ±9 years remaining on primary lease term
• Attractive 3% annual increases
• Fully renovated in 2019
• Parent company guaranty
• 10.16% Average Cap rate for the primary lease term
TENANT HIGHLIGHTS
• Well known, recognized cannabis dispensary operator with 4 locations throughout Arizona
• Known for its upscale, inviting store design and exceptional customer service, creating a best-in-class shopping experience
• Arizona cannabis sales topped $1.3 billion in 2024, providing a strong market backdrop for continued success
• www.sundaygoods.com
LOCATION HIGHLIGHTS
• Densely populated trade area with over 353,765 residents in a 5-mile radius
• High traffic intersection with over a combined 80,000 VPD
• Extremely high average household incomes over $151,000 in a 1 mile radius
• Across the street from busy Sprouts anchored shopping center
• Absolute NNN Lease – zero landlord responsibilities
• ±9 years remaining on primary lease term
• Attractive 3% annual increases
• Fully renovated in 2019
• Parent company guaranty
• 10.16% Average Cap rate for the primary lease term
TENANT HIGHLIGHTS
• Well known, recognized cannabis dispensary operator with 4 locations throughout Arizona
• Known for its upscale, inviting store design and exceptional customer service, creating a best-in-class shopping experience
• Arizona cannabis sales topped $1.3 billion in 2024, providing a strong market backdrop for continued success
• www.sundaygoods.com
LOCATION HIGHLIGHTS
• Densely populated trade area with over 353,765 residents in a 5-mile radius
• High traffic intersection with over a combined 80,000 VPD
• Extremely high average household incomes over $151,000 in a 1 mile radius
• Across the street from busy Sprouts anchored shopping center
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,926 SF
Building Class
B
Year Built/Renovated
1964/2019
Price
$4,074,215
Price Per SF
$2,115.38
Cap Rate
9%
NOI
$366,679
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.18 AC
Zoning
C-2, Phoenix
Parking
8 Spaces (4.15 Spaces per 1,000 SF Leased)
Amenities
- Signalized Intersection
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- The Pharm, LLC
- Manufacturing
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| The Pharm, LLC | Manufacturing | - | - | - |
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (75)
Nearby Major Retailers
Property Taxes
| Parcel Number | 164-26-035B | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $66,260 |
Property Taxes
Parcel Number
164-26-035B
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$66,260
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Sunday Goods - Long Term Abs NNN Lease | 1616 E Glendale Ave
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