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Restaurant

Ojos Locos

9040 N Black Canyon Hwy, Phoenix, AZ 85051

Listing Price: $5,508,000

Cap Rate
5.00%
Tenant Name
Ojos Locos
Years Remaining On Lease
19.2
Guarantor
Corporate Guarantee
Rentable SF
7,385
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.29

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Ojos Locos Sports Cantina located at 9040 North Black Canyon Highway in Phoenix, Arizona. The subject property consists of approximately 7,385 rentable square feet and is situated on roughly 0.44 acres of land. The property features a 20-year absolute triple-net (NNN) lease that commenced on July 2nd, 2021. The current annual rent is $270,000 and the lease features rare two percent (2.00%) annual rental increases that will continue through four (4), five (5)-year options.

Investment Highlights

  • 20-Year Absolute Triple-Net (NNN) Lease: The lease commenced on July 2nd, 2021, and has 19+ years remaining. The lease has no landlord responsibilities
  • Corporate Guaranty: The lease features a corporate guaranty from Crazy Eyes Holdings, LLC, the parent company of Ojos Locos
  • Attractive Rental Increases: The lease features rare 2.00% annual rental increases

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Listing Price: $5,508,000

Cap Rate
5.00%
Tenant Name
Ojos Locos
Years Remaining On Lease
19.2
Guarantor
Corporate Guarantee
Rentable SF
7,385
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.29

Investment Highlights

  • 20-Year Absolute Triple-Net (NNN) Lease: The lease commenced on July 2nd, 2021, and has 19+ years remaining. The lease has no landlord responsibilities
  • Corporate Guaranty: The lease features a corporate guaranty from Crazy Eyes Holdings, LLC, the parent company of Ojos Locos
  • Attractive Rental Increases: The lease features rare 2.00% annual rental increases

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Ojos Locos Sports Cantina located at 9040 North Black Canyon Highway in Phoenix, Arizona. The subject property consists of approximately 7,385 rentable square feet and is situated on roughly 0.44 acres of land. The property features a 20-year absolute triple-net (NNN) lease that commenced on July 2nd, 2021. The current annual rent is $270,000 and the lease features rare two percent (2.00%) annual rental increases that will continue through four (4), five (5)-year options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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