2201 N 7th St
Phoenix, AZ 85006
Coronado Historic Building (NNN Opportunity) · Retail Property For Sale

This is an incredible opportunity to purchase a historic restaurant building in the center of Phoenix! The property is located in the heart of Midtown Phoenix's 7th Street Corridor, minutes from the Phoenix Country Club to the north, the I-10 Freeway to the south, less than 3/4 of a mile to the nearest light rail station, and less than two miles to Chase Field and the Downtown Phoenix Stadium District. The current tenant is a successful, fully operating restaurant and the current NNN lease produces a 6.4% CAP, with a lease running thru August 2020 with a five year extension option. The purchase price also includes all fixtures at the property including all kitchen equipment, some furniture, etc. This amazing, historic building was built in 1915 and has been restored over the years to maintain the classic, quaint, vintage charm that is indicative of the bungalow style that is so popular in the adjoining historic Coronado neighborhood. This portion of 7th Street has been extremely popular for revitalization and adaptive re-use projects, with old buildings and historic houses being converted into vibrant, cool, hip restaurants and cafes. There are currently over 1500 residential units planned or under construction within a one mile radius, and the area will likely continue to see this unprecedented growth given its location in the heart of midtown and its close proximity to Uptown and Downtown Phoenix.