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1559 S Gilbert Rd 6,506 SF Retail Building Mesa, AZ 85204 $1,957,000 ($300.80/SF) 5.97% Cap Rate
EXECUTIVE SUMMARY
Popular Restaurant Franchise with Local Roots
Nearly 20 Arizona Locations
±6,506 SF of Building per County: 6,355 SF per Lease Agreement
NNN Lease - Roof + Structure LL Responsibility
Multiple Guarantors - Franchisee Guaranty and Corporate Guaranty
Original 5 year Lease w/ Two 5 Year Renewal Options (Option 1 Formally Exercised)
2.5% Annual Rental Increases
Strategically Located North of the US-60 Interchange on Gilbert Road
Strong East Valley Demographics
Densely Populated with Over 400,000 Residents in a 5-mile Radius
Nearly 45,000 VPD Along Gilbert Roada
Over $200k of Recent HVAC, Roof, and Restaurant Fixture Improvements
Nearly 20 Arizona Locations
±6,506 SF of Building per County: 6,355 SF per Lease Agreement
NNN Lease - Roof + Structure LL Responsibility
Multiple Guarantors - Franchisee Guaranty and Corporate Guaranty
Original 5 year Lease w/ Two 5 Year Renewal Options (Option 1 Formally Exercised)
2.5% Annual Rental Increases
Strategically Located North of the US-60 Interchange on Gilbert Road
Strong East Valley Demographics
Densely Populated with Over 400,000 Residents in a 5-mile Radius
Nearly 45,000 VPD Along Gilbert Roada
Over $200k of Recent HVAC, Roof, and Restaurant Fixture Improvements
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,506 SF
Building Class
B
Year Built
1988
Price
$1,957,000
Price Per SF
$300.80
Cap Rate
5.97%
NOI
$116,833
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.73 AC
Zoning
LC - Commercial
Parking
34 Spaces (5.23 Spaces per 1,000 SF Leased)
Frontage
114’ on S Gilbert Rd
AMENITIES
- Smoke Detector
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Native
- Accommodation and Food Services
- 6,506 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Native | Accommodation and Food Services | 6,506 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 140-61-170 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $150,528 |
PROPERTY TAXES
Parcel Number
140-61-170
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$150,528
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1559 S Gilbert Rd
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