2955 N Hayden Rd 1,628 SF Retail Building Scottsdale, AZ 85251 $2,770,000 ($1,701.47/SF) 6.50% Cap Rate

EXCLUSIVELY REPRESENTED BY ORION INVESTMENT REAL ESTATE - Nick Miner, CCIM
Looking for a truly hands-off, 1031-exchange-ready commercial asset in one of Metro Phoenix's most desirable retail submarkets? Our newest exclusive listing offers long-term, inflation-protected cash flow backed by an exciting, rapidly growing food & beverage concept.
Located at 2955 N. Hayden Road, Scottsdale, AZ 85251, this freestanding drive-thru property is leased to Outcast Doughnuts on a brand-new 20-year Absolute NNN lease with 2.5% annual rent increases.
Here is a full breakdown of the property details, lease terms, and investment highlights.
Property & Financial Overview
List Price: $2,770,000
Cap Rate: 6.50%
Annual Base Rent: $180,000
Unleveraged 5-Year IRR: 8.26%
Building Size: ±1,628 SF Freestanding Drive-Thru Restaurant
Lot Size: ±20,670 SF (0.47 Acres)
Zoning: C-2, City of Scottsdale
Parking: 18 dedicated spaces
Traffic Counts: 32,227 VPD on Hayden Rd | 30,859 VPD on Thomas Rd
?? Premium Lease Structure
This asset is designed for fully passive income with zero landlord responsibilities:
Tenant: Outcast Doughnuts, LLC
Lease Term: 20 Years
Lease Type: Absolute NNN (Tenant covers Taxes, Insurance, Maintenance, Utilities, Roof & Structure)
Rent Escalations: 2.5% Fixed Annual Increases
Renewal Options: Four (4) 5-year options with continued 2.5% annual increases
Guaranty: Corporate and Personal Guarantee
?? Key Investment Highlights
1. Significant Tenant Capital Commitment
The property underwent over $475,000 in recent renovations (2025–2026), with the tenant funding over $400,000 of the buildout costs. This substantial equity commitment underscores the tenant's long-term dedication to this location.
2. Differentiated & Buzzing Tenant Concept
Outcast Doughnuts is an experience-driven, fast-growing East Valley concept known for its specialty "layered" croissant-style doughnuts, artisanal coffee, and breakfast options. Featured in Phoenix New Times as one of the top 12 doughnut shops in the Valley, the concept generates strong multi-daypart foot traffic and heavy social media engagement.
3. High-Exposure Scottsdale Infill Location
Situated along Hayden Road just north of Thomas Road, the property enjoys direct visibility and signage along a high-volume commuter corridor feeding commuters, local residents, and visitors traveling to and from Old Town Scottsdale and Loop 101.
4. Affluent Demographic Profile
Scottsdale continues to lead Metro Phoenix in household wealth and discretionary spending:
1-Mile Median Household Income: Over $138,000
5-Mile Median Household Income: Over $130,000
2026 Scottsdale Population: ~248,000 residents