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Views: 177 DOM: 617 Updated: 11.27.24 Posted: 03.27.23 Status: Active

Summary

Price $1,975,000
Built/Renov 2022
Tenant Black Rock Coffee Bar
Cap Rate 5.32%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 830
Lease Start 02-02-2023
#Units 120
Price/SF $2,379.52
Expiration 02-02-2038
Tenant Type Fast Food/QSR
NOI $105,000
R. Term 13.2
Ownership Fee Simple
Rent/SF $126.51
Increases 10.0%/5/yrs
Pop 5Mi 476,791
Lot/AC 0.56
Options 4/5yrs/10%
AHHI 5Mi $78,881

Lease Highlights

  • New 2022 construction
  • Brand-new 15 year lease with 4 (5-year) options to extend
  • Lease features 10% rental inceases every 5 years throughout the initial term and at each option period
  • Absolute NNN with zero landlord responsibilities
  • Corporate guarantee by Black Store Operations LLC

Location Description

This newly constructed Black Rock Coffee is strategically located at the hard corner intersection of North 23rd Drive with frontage on Glendale Ave, a major Phoenix thoroughfare which sees 45,318 vehicles passing per day. Located within a dense retail corridor, the property is less than 2 miles from Spectrum Shopping Mall, Bethany Towne Center, Los Altos Ranch Market, Palm Glen Shopping Center...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Black Rock Coffee Bar
  • Guarantor:Corporate
  • Company:Black Store Operations LLC
  • # Units:120
  • Stock:Private

About Tenant

Black Store Operations LLC, dba Black Rock Coffee Bar is one of the largest privately owned coffee companies. Founded in 2007 in Portland Oregon, the company is known for its premium roasted...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 28,052 210,426 474,043
2023 Total Population : 28,359 211,087 473,912
2023 Employed Civilian Pop : 13,127 97,473 226,067
2023 Total Businesses : 459 4,911 16,039
2023 Average Household Income : $ 66,027 $ 85,456 $ 84,114
2023 Total Consumer Spending : $ 660 M $ 5630 M $ 13282 M
2023 Median Age : 34 33 34
2023 Total Households : 11,377 75,043 179,977
2023 Pop Age 25+: Bachelor's Degree : 3,130 22,706 52,609
2023 Average Home Value : $ 332,069 $ 417,360 $ 405,075
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Glendale Ave N 22nd Dr 2015 41,295 0.12 mi
West Glendale Avenue N 22nd Dr 2018 45,733 0.13 mi
W Glendale Ave N 24th Dr 2015 39,707 0.14 mi
West Glendale Avenue N 22nd Dr 2018 41,061 0.15 mi
I- 17 2021 44,240 0.22 mi
N Black Canyon Hwy W Glendale Ave 2010 8,094 0.24 mi
W Myrtle Ave 2021 11,551 0.26 mi
W Glendale Ave N Black Canyon Hwy 2010 35,320 0.27 mi
W Glendale Ave 2021 9,427 0.27 mi
W Myrtle Ave 2021 12,100 0.28 mi

Listing Broker

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