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Views: 324 DOM: 177 Updated: 11.07.24 Posted: 05.28.24 Status: Contract 10.22.24

Summary

Price $2,476,000
Built/Renov 2024
Tenant Better Buzz Coffee (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,575
Lease Start 12-01-2024
#Units 20
Price/SF $1,572.06
Expiration 12-01-2039
Tenant Type Fast Food/QSR
NOI $130,000
R. Term 15.0
Ownership Ground Lease
Rent/SF $82.54
Increases 10.0%/5/yrs
Pop 5Mi 306,636
Lot/AC 1.04
Options 3/5yrs/10%
AHHI 5Mi $109,291

Lease Highlights

  • Brand new 2024 construction
  • Better Buzz Coffee will be executing a brand new 15-year ground lease with 3 (5-year) options to extend upon close of escrow
  • The lease features 10% rental increases throughout the initial term and option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Better Buzz Coffee is strategically located at the signalized, hard corner intersection of W Elliot Road and S Kyrene Road, with access to a substantial daily traffic count of 57,000 vehicles. The property is conveniently situated 5 miles from Arizona State University, which has nearly 55,000 students enrolled, and 9 miles from Phoenix Sky Harbor International Airport. The immediate area is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Better Buzz Coffee
  • Guarantor:Corporate
  • Company:Better Buzz Coffee Company
  • # Units:20
  • Stock:Private

About Tenant

Better Buzz Coffee Roasters is a privately held chain of coffee shops and retailer of coffee beverages. The company is a certified CCOF Organic Coffee Roaster and sources a wide variety of...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 13,383 120,683 314,659
2024 Total Population : 13,267 119,102 310,013
2024 Employed Civilian Pop : 8,238 69,322 180,136
2024 Total Businesses : 562 5,027 13,249
2024 Average Household Income : $ 119,321 $ 125,438 $ 118,125
2024 Total Consumer Spending : $ 605 M $ 5556 M $ 13022 M
2024 Median Age : 34 37 35
2024 Total Households : 5,723 50,659 125,823
2024 Pop Age 25+: Bachelor's Degree : 2,731 26,316 63,983
2024 Average Home Value : $ 563,292 $ 533,301 $ 526,706
*ESRI data is presented for informational purposes only

Listing Broker

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