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GOLDEN CORRAL – GLENDALE, AZ 5679 W Northern Ave 12,103 SF Retail Building Glendale, AZ 85301 $5,400,000 ($446.17/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- OPPORTUNITY ZONE
- EXTREMELY HIGH SALES LOCATION: Successfully open & operating since 2015 and Rent-to-Sales Ratio is less than 2%!
- Pad Site to a Lowe’s Home Improvement & Walmart Anchored Shopping Center with exceptional visibility & access along Northern Avenue
- ABSOLUTE NNN LEASE: Over 9 years remaining on initial 20-Year Absolute NNN Lease with attractive 1.75% rental increases annually
- ADDITIONAL UPSIDE: Tenant is only leasing 1.20 acres of the existing parking lot. The Remainder could be leased to an additional tenant in the future.
- 2025 DEMOGRAPHICS: Total Population (5MI): 499,601 | Average Household Income (1MI): $88,974
EXECUTIVE SUMMARY
(Building & Land) Fee Simple
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,103 SF
Building Class
B
Year Built
2022
Price
$5,400,000
Price Per SF
$446.17
Cap Rate
6.25%
NOI
$337,616
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.21 AC
Opportunity Zone
Yes
Zoning
C
Parking
40 Spaces (3.3 Spaces per 1,000 SF Leased)
AMENITIES
- Drive Thru
- Monument Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Golden Corral
- Accommodation and Food Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Golden Corral | Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $70,736 | Total Assessment | $443,898 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$70,736
Improvements Assessment
$0
Total Assessment
$443,898
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GOLDEN CORRAL – GLENDALE, AZ | 5679 W Northern Ave
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