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Views: 152 DOM: 148 Updated: 11.07.24 Posted: 06.12.24 Status: Sold 11.08.24

Summary

Price $2,952,300
Built/Renov 2024
Tenant Black Rock Coffee Bar
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,400
Lease Start 01-16-2024
#Units 140
Price/SF $1,266.25
Expiration 01-31-2039
Tenant Type Fast Food/QSR
NOI $155,000
R. Term 14.1
Ownership Fee Simple
Rent/SF $64.58
Increases 10.0%/5/yrs
Pop 5Mi 82,077
Lot/AC 0.95
Options 4/5yrs/10%
AHHI 5Mi $92,675

Lease Highlights

  • Brand-new 2024 construction
  • Black Rock Coffee Bar has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Black Rock Coffee Bar is strategically located on East Hunt Highway, the primary thoroughfare, with access to 33,500 vehicles passing by daily. The property is surrounded by well-known national tenants, including AutoZone, Chase, Jersey Mike's, McDonald's, Walgreens, and more. Additionally, it is 9 miles from Queen Creek Marketplace and 14 miles from Arizona State University Polytechnic...

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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:140
  • 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
2029 Total Population : 10,818 52,680 102,047
2024 Total Population : 10,642 51,286 93,495
2024 Employed Civilian Pop : 4,545 22,585 41,813
2024 Total Businesses : 128 379 744
2024 Average Household Income : $ 99,498 $ 106,222 $ 118,239
2024 Total Consumer Spending : $ 320 M $ 1545 M $ 3133 M
2024 Median Age : 38 35 35
2024 Total Households : 3,643 16,577 30,339
2024 Pop Age 25+: Bachelor's Degree : 1,296 5,571 11,201
2024 Average Home Value : $ 414,825 $ 426,700 $ 461,367
*ESRI data is presented for informational purposes only

Listing Broker

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