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Verizon Wireless 2690 Hwy 95 2,554 SF Retail Building Bullhead City, AZ 86442 $1,827,000 ($715.35/SF) 7% Cap Rate
Investment Highlights
- Publicly Traded NYSE: VZ ($134.8 billion annual revenue)
- Hard Corner (±32,628 VPD) Excellent Visibility
- Operated by Largest Verizon Franchisee, Celluar Sales of Knoxville (±872-Units)
Executive Summary
- Single-tenant Verizon Wireless investment opportunity featuring a recently extended net lease with ±8.25 years remaining and one (1), five (5) year option period.
- Verizon Wireless (NYSE: VZ) ranks 30 on the Fortune 500 with $134.8 billion in annual revenue and an S&P investment grade credit rating of BBB+.
- The operator, Cellular Sales of Knoxville, is the largest Verizon franchisee operating ±872 stores across 43 states. Their corporate entity is guaranteeing this lease.
- The Property has frontage and excellent visibility on the hard corner of Mohave Valley Hwy (AZ-95) and Newberry Dr (±32,628 VPD) (Source: ADOT, 24).
- The City Centre District, a ±246-acre mixed-use development by Mantle Investments, is just north of the Property. This project will feature 12 development districts including multifamily housing, build-to-rent communities, senior living, retail shops, a central residential park, and a vibrant commercial main street in the heart of the city (Source: azbex.com).
- Mohave High School (±1,101 Students) is ±4 minutes north (Source: US News).
- Western Arizona Regional Medical Center is located ±9 minutes east of the Property, which features ±139 beds, ±700 employees and contributes ±$101 million to Bullhead City’s economy (Source: Western Arizona Regional Medical Center).
- Nearby national retailers include Walmart Supercenter, Goodwill, Smart & Final, Hobby Lobby, Circle K, Walgreens, CVS, C-A-L Ranch Stores, and more.
- Bullhead City, AZ is just south of Laughlin, NV, a popular tourist destination attracting nearly 2 million visitors annually to its eight resort casinos (Source: Visitlaughlin.com).
- Laughlin’s casinos generate over $823 million in revenue, with over $525 million in gaming revenue alone (Source: UNLV Center for Gaming Research).
- Verizon Wireless (NYSE: VZ) ranks 30 on the Fortune 500 with $134.8 billion in annual revenue and an S&P investment grade credit rating of BBB+.
- The operator, Cellular Sales of Knoxville, is the largest Verizon franchisee operating ±872 stores across 43 states. Their corporate entity is guaranteeing this lease.
- The Property has frontage and excellent visibility on the hard corner of Mohave Valley Hwy (AZ-95) and Newberry Dr (±32,628 VPD) (Source: ADOT, 24).
- The City Centre District, a ±246-acre mixed-use development by Mantle Investments, is just north of the Property. This project will feature 12 development districts including multifamily housing, build-to-rent communities, senior living, retail shops, a central residential park, and a vibrant commercial main street in the heart of the city (Source: azbex.com).
- Mohave High School (±1,101 Students) is ±4 minutes north (Source: US News).
- Western Arizona Regional Medical Center is located ±9 minutes east of the Property, which features ±139 beds, ±700 employees and contributes ±$101 million to Bullhead City’s economy (Source: Western Arizona Regional Medical Center).
- Nearby national retailers include Walmart Supercenter, Goodwill, Smart & Final, Hobby Lobby, Circle K, Walgreens, CVS, C-A-L Ranch Stores, and more.
- Bullhead City, AZ is just south of Laughlin, NV, a popular tourist destination attracting nearly 2 million visitors annually to its eight resort casinos (Source: Visitlaughlin.com).
- Laughlin’s casinos generate over $823 million in revenue, with over $525 million in gaming revenue alone (Source: UNLV Center for Gaming Research).
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,554 SF
Building Class
B
Year Built
2019
Price
$1,827,000
Price Per SF
$715.35
Cap Rate
7%
NOI
$127,902
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.55 AC
Zoning
Commercial, Bullhead City
Parking
10 Spaces (3.92 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Information
- -
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$9.99
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Lorem Ipsum
-
Jan 0000
Verizon Communications originated in 1983 as Bell Atlantic after the AT&T breakup. The company merged with GTE in 2000, forming Verizon Communications. Today, it operates consumer services like wireless networks and Fios fiber-optic internet and TV. Its business segment provides networking, cloud solutions, and security services. Verizon remains one of the largest telecommunications providers in the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Information | - | $9.99 | Lorem Ipsum | Jan 0000 |
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 220-15-162L | Improvements Assessment | $662,497 |
| Land Assessment | $261,980 | Total Assessment | $924,477 |
Property Taxes
Parcel Number
220-15-162L
Land Assessment
$261,980
Improvements Assessment
$662,497
Total Assessment
$924,477
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Verizon Wireless | 2690 Hwy 95
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