1927 E Crocus Dr - Hands-Off-Master Leased | Strong Tenant | Phx 2,019 SF Specialty Building Offered at $850,000 at a 7.34% Cap Rate in Phoenix, AZ 85022

1927 E Crocus Dr
Phoenix, Arizona 85022
ABSOLUTE NNN SINGLE-TENANT INVESTMENT
5-Year Lease | Built-In Rental Growth | 7.96% Cap Rate
POSITIONING
Bond-Like Income Secured by Real Estate
• Absolute Triple Net Structure
• Newly Executed 5-Year Lease (Commencing 1/1/2026)
• Personal Guarantee
• Two 5-Year Options
• Built-In $100 Annual Monthly Increases
• First Right of Refusal
Asking Price: $850,000
EXECUTIVE SUMMARY
Gerchick Real Estate is pleased to present a fully stabilized Absolute NNN investment secured by a newly signed 5-year lease.
The tenant reimburses property taxes and insurance in addition to base rent creating predictable, passive income.
This opportunity delivers:
• Immediate cash flow
• Structured rent growth
• Minimal landlord responsibility
• Strong yield within the single-tenant SFR asset class
The value proposition is income-driven. This is not an owner-occupant comparable play — it is a yield acquisition.
FINANCIAL OVERVIEW
Year 1 Income
Base Rent: $5,200/month
NNN Reimbursements: $440.25/month
Total Monthly Income: $5,640.25
Annual Income: $67,683
Cap Rate Analysis
Purchase Price: $850,000
Year 1 Cap Rate:
$67,683 ÷ $850,000 = 7.96%
Forward Cap Rate Growth
Year Annual Income Forward Yield
Year 1 $67,683 7.96%
Year 2 $68,883 8.10%
Year 3 $70,083 8.24%
Year 4 $71,283 8.39%
Year 5 $72,483 8.53%
By Year 5, yield increases to 8.53% on original cost basis.
5-Year Cash Flow Projection
Assuming purchase at $850,000 cash:
Total Projected 5-Year Gross Income:
$67,683
$68,883
$70,083
$71,283
$72,483
Total 5-Year Income: $350,415
This represents over 41% of purchase price returned in five years through income alone.
LEASE ABSTRACT SUMMARY
• Lease Commencement: January 1, 2026
• Primary Term: 5 Years
• Options: Two 5-Year Extensions
• Rental Increases: $100 per month annually
• Personal Guarantee
• First Right of Refusal
• Tenant Reimburses Taxes & Insurance
Structure: Absolute NNN
INVESTMENT THESIS
Why This Asset Performs
High Yield Relative to Asset Class
Predictable Rent Growth
Personal Guarantee Reduces Risk
Minimal Management Burden
Inflation Hedge via Increases
Strong Phoenix Location
Cap Rate Compression Potential
Income Secured by Real Estate
This structure appeals to private investors, 1031 exchange buyers, family offices, and yield-focused capital seeking stable returns without active management.
BUYER REQUIREMENTS
The Seller recognizes traditional residential appraisal methodology may not fully reflect the value of the contractual income stream.
All offers must:
• Be Cash OR
• Waive Appraisal Contingency
• Provide Proof of Funds
This is an income acquisition.
DISCLAIMER
All information contained herein has been obtained from sources deemed reliable but is not guaranteed. Buyer shall independently verify all information including, but not limited to, lease terms, rental income, expenses, property condition, zoning, square footage, and all other material facts. Gerchick Real Estate makes no warranties or representations as to the accuracy of the information provided. Buyer is advised to conduct their own due diligence and consult with appropriate legal, financial, and tax professionals prior to making any investment decision.