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Carl's Jr. 416 S Watson Rd 3,058 SF Retail Building Buckeye, AZ 85326 $2,789,000 ($912.03/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- Strong Sales | Rent-To-Sales Ratio Under 6.0%
- Outpad to Sundance Towne Center | 600,000 SF | Walmart Supercenter, Lowe's Home Imrpovement, PetSmart, Beall's Outlet, Dollar Tree, Boot Barn, etc.
- Long Term Operating History of 15 Years
- Prime Interstate Location | Interstate 10 (88,764 VPD)
- Phoenix-Chandler-Mesa, AZ MSA Advantage
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the Carl’s Jr. ground lease situated on 1.25 acres in Buckeye, AZ—a western component of the Phoenix, AZ MSA (Population: 5.1M). The absolute NNN ground lease features ±2.4 years of primary term remaining with 10% rent increases in the two 5-year renewal options. Carl’s Jr.’s 3,058-square-foot building was constructed in 2010, and the site boasts a long-term operating history of 15 years.
The property is located on irreplaceable real estate within the ±600,000-square-foot Sundance Towne Center, which welcomed nearly 725,000 unique visitors across 7 million total visits during the last 12 months (Placer.ai). Carl’s Jr. is situated on a hard corner at the signalized, high traffic intersection of South Watson Road (61,961 VPD) and Interstate 10 (88,764 VPD).
The property is located on irreplaceable real estate within the ±600,000-square-foot Sundance Towne Center, which welcomed nearly 725,000 unique visitors across 7 million total visits during the last 12 months (Placer.ai). Carl’s Jr. is situated on a hard corner at the signalized, high traffic intersection of South Watson Road (61,961 VPD) and Interstate 10 (88,764 VPD).
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,058 SF
Building Class
B
Year Built
2010
Price
$2,789,000
Price Per SF
$912.03
Cap Rate
5.25%
NOI
$146,410
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.27 AC
Zoning
PAD
Parking
61 Spaces (19.95 Spaces per 1,000 SF Leased)
Frontage
307’ on S Watson Rd
AMENITIES
- Car Charging Station
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 504-19-956E | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $288,873 |
PROPERTY TAXES
Parcel Number
504-19-956E
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$288,873
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Michael Hackett -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE, Inc.
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Carl's Jr. | 416 S Watson Rd
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