16420 N Scottsdale Rd
Scottsdale, AZ 85254
The Coffee Bean & Tea Leaf at Keirland One · Retail Property For Sale

* This is a rare North Scottsdale single-tenant investment opportunity leased to The Coffee Bean & Tea Leaf®, which includes a drive-thru on Scottsdale Road. * The Property was constructed in 2020, offering a new 10-year lease with 10% rental increases every 5 years, and three 5-year options for the tenant to renew. * Born and brewed in Southern California since 1963, The Coffee Bean & Tea Leaf® has since grown to over 1,200 stores worldwide. * The next closest Scottsdale Road single-tenant coffee location with drive-thru is ±1.5 miles to the North and ±1.8 miles to the South of the Property. * The top North Scottsdale employers surrounding the Property include: Mayo Clinic (±4,718 employees), Vanguard (±4,070 employees), Favorite Healthcare Staffing Inc (±910 employees), Go Daddy Software Inc (±880 employees), and Republic Services Inc (±790 employees). * The Property is very well-positioned on North Scottsdale Road, with daily traffic counts of ±46,745 on average (Source: ADOT, 2019). * Strong demographics in a three-mile radius, with an average household income is ±$130,226. (Source: Esri). * In 2017, Scottsdale welcomed ±8.9 million visitors, generating an estimated $2.4 billion economic impact to the city (Source: Scottsdale Tourism Study, 2018). * Directly across the street of the Property is The Promenade, the landmark shopping destination serving North Scottsdale. National tenants include Lowe’s, Trader Joe’s, Nordstrom, Living Spaces, Bank of America, The Capital Grille, In-N-Out Burger, Buffalo Wild Wings, Verizon Wireless, Sprint Store, Ulta Beauty, and many more. * Located less than two miles northeast of the Property is TPC Scottsdale. This golf course is home of the Waste Management Phoenix Open, the largest-attended tournament in the world. * Located less than two miles south of the Property is the Scottsdale Airport, the busiest single runway general aviation airport in the country. Aviation activity at the airport and airpark created $688 million in total economic output for 2019 (Source: scottsdaleaz.gov, 2020).