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Views: 425 DOM: 48 Updated: 08.09.24 Posted: 06.21.24 Status: Sold 08.08.24

Summary

Price $2,542,000 $2,608,700
Built/Renov 2024
Tenant Gravity Coffee
Cap Rate 5.90% 5.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,810
Lease Start 12-02-2023
#Units 100
Price/SF $1,404.42 $1,441.27
Expiration 12-30-2043
Tenant Type Fast Food/QSR
NOI $150,000
R. Term 19.3
Ownership Fee Simple
Rent/SF $82.87
Increases 2.0%/1/yrs
Pop 5Mi 282,726
Lot/AC 0.89
Options 3/5yrs/10%
AHHI 5Mi $146,890

Lease Highlights

  • Brand-new 2024 construction
  • Gravity Coffee has 19+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and 10% at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Gravity Coffee is strategically located on South Val Vista Drive, with access to 30,275 vehicles passing by daily. The property is positioned across from Campo Verde High School and The Gilmore, a 35-acre mixed-use project currently in development. Additionally, it is situated less than 1 mile south of Dignity Health Mercy Gilbert Medical Center, 3 miles from SanTan Village and 6 miles from...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Gravity Coffee
  • Guarantor:Corporate
  • Company:Gravity Coffee Company
  • # Units:100
  • Stock:Private

About Tenant

Gravity Coffee Company is an operator of drive-thru coffee shops largely based in the Pacific Northwest. Their stores feature modern architecture with a menu including proprietary syrups,...


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Listing Broker

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