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Auto Service - Gas-Conv

Brakes Plus

18415 N 35th Ave, Phoenix, AZ 85053

Listing Price: $2,350,857

Cap Rate
5.25%
Tenant Name
Brakes Plus
Years Remaining On Lease
9.0
Guarantor
Corporate Guarantee
Rentable SF
4,644
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.58

Investment Overview

The subject property is a single-tenant Corporate Guaranteed Brakes Plus net leased asset positioned just off the signalized, hard corner intersection of West Union Hills Drive and North 35th Avenue in Phoenix, Arizona. The intersection boasts strong traffic counts in excess of 49,000 vehicles per day. The property is situated in a primarily residential infill area with a variety of surrounding retail. Retailers at the intersection include Walgreen’s, McDonald’s, Circle K, Goodyear Tire, Sonic Drive-In, Firestone, O’Reilly Auto Parts, H&R Block, Farmers Insurance, Kindercare, Sunrise Preschool, TitleMax, Mobil Gas Station and an AMF Bowling Center among others. In close proximity to the east is Deer Valley Towne Center, a 459,939-square foot shopping center owned and operated by DDR. Anchors at the center include Target, Ross, PetSmart, Michael’s and AMC Theatres. Retail in and around the center includes Chipotle, Panda Express, Chick-Fil-A, Chili’s, Macaroni Grill, Claim Jumper, Jack in the Box, Starbucks, Costco, Sportsman’s Warehouse, In-N-Out Burger and a variety of others. Further enhancing the area are John C. Lincoln Deer Valley Hospital, PetSmart’s Corporate Headquarters, University of Phoenix and American Express. Built in 2000, the property consists of an approximate 4,644-square foot retail building* situated on approximately 0.58 acres of land*. The lease is Absolute Triple Net (NNN) in nature with zero landlord repair and maintenance responsibilities whatsoever and contains two 5-year renewal options with fixed rental increases during the lease and renewal option periods. * Buyer to verify the accuracy of these figures during their Due Diligence Period.

Investment Highlights

  • Corporate Guaranteed Lease
  • Absolute Triple Net NNN - No Maintenance or Management Responsibilities
  • Ten Percent Rental Increases Every Five Years
  • Average Household Income of $76,838 Within a Three-Mile Radius

Exclusively Listed By

Auto Service - Gas-Conv

Brakes Plus

Listing Price: $2,350,857

Cap Rate
5.25%
Tenant Name
Brakes Plus
Years Remaining On Lease
9.0
Guarantor
Corporate Guarantee
Rentable SF
4,644
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.58

Investment Highlights

  • Corporate Guaranteed Lease
  • Absolute Triple Net NNN - No Maintenance or Management Responsibilities
  • Ten Percent Rental Increases Every Five Years
  • Average Household Income of $76,838 Within a Three-Mile Radius

Investment Overview

The subject property is a single-tenant Corporate Guaranteed Brakes Plus net leased asset positioned just off the signalized, hard corner intersection of West Union Hills Drive and North 35th Avenue in Phoenix, Arizona. The intersection boasts strong traffic counts in excess of 49,000 vehicles per day. The property is situated in a primarily residential infill area with a variety of surrounding retail. Retailers at the intersection include Walgreen’s, McDonald’s, Circle K, Goodyear Tire, Sonic Drive-In, Firestone, O’Reilly Auto Parts, H&R Block, Farmers Insurance, Kindercare, Sunrise Preschool, TitleMax, Mobil Gas Station and an AMF Bowling Center among others. In close proximity to the east is Deer Valley Towne Center, a 459,939-square foot shopping center owned and operated by DDR. Anchors at the center include Target, Ross, PetSmart, Michael’s and AMC Theatres. Retail in and around the center includes Chipotle, Panda Express, Chick-Fil-A, Chili’s, Macaroni Grill, Claim Jumper, Jack in the Box, Starbucks, Costco, Sportsman’s Warehouse, In-N-Out Burger and a variety of others. Further enhancing the area are John C. Lincoln Deer Valley Hospital, PetSmart’s Corporate Headquarters, University of Phoenix and American Express. Built in 2000, the property consists of an approximate 4,644-square foot retail building* situated on approximately 0.58 acres of land*. The lease is Absolute Triple Net (NNN) in nature with zero landlord repair and maintenance responsibilities whatsoever and contains two 5-year renewal options with fixed rental increases during the lease and renewal option periods. * Buyer to verify the accuracy of these figures during their Due Diligence Period.

Exclusively Listed By

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