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Views: 251 DOM: 333 Updated: 11.21.24 Posted: 01.23.24 Status: Active

Summary

Price $2,160,000
Built/Renov 2022
Tenant Salad and Go
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 780
Lease Start 12-01-2024
#Units 100
Price/SF $2,769.23
Expiration 11-30-2044
Tenant Type Fast Food/QSR
NOI $135,000
R. Term 19.11
Ownership Fee Simple
Rent/SF $173.08
Increases 10.0%/5/yrs
Pop 5Mi 243,192
Lot/AC 0.71
Options 3/5yrs/10%
AHHI 5Mi $71,655

Lease Highlights

  • Salad and Go to execute a brand-new 20-year lease with 3 (5-year) options to extend upon close of escrow
  • The lease features 10% rental increases every 5 years throughout the primary term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Salad and Go is strategically located at the signalized, hard corner intersection of NW 23rd St and N Pennsylvania Ave, which has a combined daily traffic count of 44,000 vehicles. The property is an outparcel to VASA Fitness and is situated within a robust neighborhood retail corridor, in a densely populated trade area. The surrounding area features prominent national tenants, including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Salad and Go
  • Guarantor:Corporate
  • Company:And Go Concepts, LLC
  • # Units:100
  • Stock:Private

About Tenant

Founded in 2013 in Gilbert AZ, Salad and Go is a gourmet salad drive-thru restaurant chain located throughout the Phoenix Valley. The chain’s mission is to make ready-to-eat food available and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,377 94,244 226,855
2023 Total Population : 17,194 91,823 222,979
2023 Employed Civilian Pop : 9,452 49,069 107,631
2023 Total Businesses : 695 9,214 17,038
2023 Average Household Income : $ 73,156 $ 76,290 $ 72,261
2023 Total Consumer Spending : $ 484 M $ 2771 M $ 5929 M
2023 Median Age : 33 36 36
2023 Total Households : 7,568 41,516 93,579
2023 Pop Age 25+: Bachelor's Degree : 3,078 15,112 28,729
2023 Average Home Value : $ 217,702 $ 245,151 $ 252,988
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Pennsylvania Ave NW 23rd St 2016 17,869 0.06 mi
N Pennsylvania Ave NW 22nd St 2016 16,916 0.13 mi
Northwest 23rd Street N Barnes Ave 2018 22,276 0.15 mi
NW 23rd St N Flynn Ave 2018 22,276 0.18 mi
NW 23rd St N Gatewood Ave 2019 19,057 0.24 mi
North Pennsylvania Avenue NW 20th St 2019 15,900 0.28 mi
North Pennsylvania Avenue NW 28th St 2019 14,200 0.28 mi
Northwest 23rd Street 2019 19,300 0.30 mi
NW 23rd St N Cross Ave 2019 15,688 0.40 mi
N Pennsylvania Ave NW 18th St 2016 14,791 0.41 mi

Listing Broker

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