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1559 S Gilbert Rd 6,506 SF Retail Building Mesa, AZ 85204 $1,947,500 ($299.34/SF) 6% Cap Rate
Investment Highlights
- NNN Lease - Roof + Structure LL Responsibility
- Original 5 year Lease w/ Two 5 Year Renewal Options (Option 1 Formally Exercised)
- 2.5% Annual Rental Increases
- Multiple Guarantors - Franchisee Guaranty and Corporate Guaranty
- Over $200k of Recent HVAC, Roof, and Restaurant Fixture Improvements
- Nearly 45,000 VPD Along Gilbert Road
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
$1,947,500
Price Per SF
$299.34
Cap Rate
6%
NOI
$116,850
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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