Joe's Auto

760 W Guadalupe Rd, Gilbert, AZ 85233

$975,000

Cap Rate 4.79%

Views: 76 DOM: 135 Updated: 10.21.24 Posted: 07.03.24 Status: Active

Summary

Price $975,000	Built/Renov 2020	Tenant Joe's Auto
Cap Rate 4.79%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,533	Lease Start 12-01-2020	#Units 9
Price/SF $384.92	Expiration 03-31-2031	Tenant Type Automotive
NOI $46,706	R. Term 6.4	Ownership Fee Simple
Rent/SF $18.44	Increases 1.3%/1/yrs	Pop 5Mi 411,584
Lot/AC 0.52	Options 2/5yrs/1.25%	AHHI 5Mi $116,971

Eric Carlton

Colliers NNN Group

Contact

Lease Highlights

Joe’s Auto has 6+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 1.25% annual rental increases throughout the initial term and FMV (max 5%) at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Joe's Auto is strategically located on W Guadalupe Rd, offering excellent ingress and egress with access to 48,000 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walmart Supercenter, Smart & Final Extra!, Kohl’s, ULTA, HomeGoods, Michaels, and more. The 5-mile trade area is supported by a population of 411,584 residents with an average household...

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Key Features

Build to suit
Near major nationals
Strategically located
Freeway close
Top 100 MSA
Strong demographics
Absolute NNN
Accelerated depreciation
Annual rent increases
Corporate Guarantee

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Links

Joe's Auto Wikipedia Gilbert, Arizona Zip Code 85233 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Joe's Auto
Guarantor:Corporate
Company:Joe's Auto
# Units:9
Stock:Private

About Tenant

Joe’s Auto is a premier auto repair company providing complete auto care for both domestic and foreign vehicles including basic oil changes, engine and transmission repair, air conditioning...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	14,069	142,516	422,983
2024 Total Population :	13,559	139,983	416,431
2024 Employed Civilian Pop :	8,033	79,265	227,666
2024 Total Businesses :	789	5,771	14,631
2024 Average Household Income :	$ 125,856	$ 115,703	$ 106,355
2024 Total Consumer Spending :	$ 585 M	$ 5275 M	$ 14708 M
2024 Median Age :	35	35	36
2024 Total Households :	5,323	52,006	157,343
2024 Pop Age 25+: Bachelor's Degree :	2,635	23,503	66,031
2024 Average Home Value :	$ 534,286	$ 531,592	$ 497,761

*ESRI data is presented for informational purposes only

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