THE BACKYARD – GILBERT (PHOENIX MSA), AZ 1975 E Williams Field Rd 9,987 SF Retail Building Gilbert, AZ 85295 $6,375,000 ($638.33/SF) 6.60% Cap Rate

INVESTMENT HIGHLIGHTS

  • LONG -TERM LEASE - 10 years remaining on NN lease with attractive 10% rental escalations every 5 years with two 5-year options to renew
  • Tenant just completed and paid for a full remodel (over $1 million) to rebrand of the restaurant - reaffirming their commitment to this location!
  • HIGH TRAFFIC COUNTS/VISIBILITY - Pad site to At Home/Trader Joe’s Anchored Shopping Center - situated on a large ±1.615-acre parcel
  • OPERATOR/SUBSTANTIAL REMODEL - Operator has strategically placed 6 distinct brands with 13 locations in Arizona & Texas
  • TROPY LOCATION/HIGH BARRIERS TO ENTRY - Well positioned on the hard corner/signalized intersection
  • 2023 DEMOGRAPHICS: Total Population (5-MI): 295,883 | Average Household Income (1-MI): $168,121

EXECUTIVE SUMMARY

(Building & Land) Fee Simple

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,987 SF
Building Class
B
Year Built
2019
Price
$6,375,000
Price Per SF
$638.33
Cap Rate
6.60%
NOI
$420,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.62 AC
Zoning
C - Commercial
Frontage
150’ on Williams Field Road

AMENITIES

  • 24 Hour Access
  • Corner Lot
  • Restaurant
  • Signalized Intersection
  • Air Conditioning

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • The Backyard
  • Accommodation and Food Services
  • 9,987 SF
  • -
  • -
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
The Backyard Accommodation and Food Services 9,987 SF - -

NEARBY MAJOR RETAILERS

Stretchlab
CycleBar
AKT
Trader Joe's
Another Broken Egg
Firebirds Wood Fired Grill
North Italia
Flower Child
Torchy's Tacos
Five Guys

PROPERTY TAXES

  • Listing ID: 35678444

  • Date on Market: 10/7/2024

  • Last Updated:

  • Address: 1975 E Williams Field Rd, Gilbert, AZ 85295