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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
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Jan 0000
Verizon Communications was formed in 2000 through the merger of Bell Atlantic Corp. and GTE Corp., creating one of the largest telecom companies in the US. The company offers wireless products and services, including data plans and mobile phone services. It also provides broadband and other wireline communications services. Verizon's consumer segment provides wireless and wireline services to consumers, while the business segment offers services to businesses and government entities. Verizon has a significant presence in the telecommunications market, offering a wide range of services to a diverse customer base.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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Information | - | $9.99 | Lorem Ipsum | Jan 0000 |
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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