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
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
PROPERTY TAXES
| Parcel Number | 313-24-888 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $387,492 |
