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Views: 54 DOM: 86 Updated: 08.22.24 Posted: 06.14.24 Status: Contract 08.22.24

Summary

Price $2,650,000
Built/Renov 2017
Tenant Signature Salon Studios
Cap Rate 7.29%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 10,480
Lease Start 04-01-2017
#Units 5
Price/SF $267.18
Expiration 04-01-2032
Tenant Type General Retail
NOI $193,118
R. Term 7.6
Ownership Fee Simple
Rent/SF $18.43
Increases 6.5%/3/yrs
Pop 5Mi 325,386
Lot/AC 1.81
Options 3/5yrs/6.5%
AHHI 5Mi $95,563

Lease Highlights

  • Signature Salon Studios has 7+ years remaining on its current lease term with 3 (5-year) options to extend
  • The lease features 6.5% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Signature Salon Studios is strategically located at the signalized, hard corner intersection of East Southern Ave and Higley Road, with access to a combined daily traffic count of 64,900 vehicles. It is conveniently located off US-60 Highway, which experiences 249,500 VPD. Furthermore, the property enjoys close proximity to Superstition Springs Center, a prominent retail shopping mall, and is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Signature Salons, Ltd. is an innovator in the salon suite operator marketplace. Tenants are comprised of individual operators of professional beauty salon services who have built their businesses...


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Listing Broker

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