Angie's Prime Grill

4989 West Ray Road, Chandler, AZ 85226

$3,420,000

Cap Rate 6.05%

$3,575,000

Cap Rate 5.78%

Views: 242 DOM: 250 Updated: 09.13.24 Posted: 01.19.24 Status: Sold 09.25.24

Summary

Price $3,420,000 $3,575,000	Built/Renov 1997/2023	Tenant Angie's Prime Grill
Cap Rate 6.05% 5.78%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,971	Lease Start 05-08-2024	#Units 8
Price/SF $1,151.13 $1,203.30	Expiration 05-31-2044	Tenant Type Fast Food/QSR
NOI $206,745	R. Term 19.4	Ownership Fee Simple
Rent/SF $62.27	Increases 2.5%/3/yrs	Pop 5Mi 275,397
Lot/AC 0.87	Options 4/5yrs/2.5%	AHHI 5Mi $119,727

Eric Carlton

Colliers NNN Group

Contact

Lease Highlights

Angie’s Prime Grill recently executed a brand-new 20-year lease with 4 (5-year) options to extend
Lease features 2.5% annual rental increases starting year 4 and throughout each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Angie's Prime Grill is strategically located at the signalized, hard corner intersection of W Ray Road and Rural Road, which has a substantial combined daily traffic count of 56,200 vehicles. A mere half-mile away, Intel’s Chandler Campus, the second-largest site for Intel in the U.S. and the largest employer in Chandler, enhances the area's prominence. The immediate vicinity is...

...

Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee

...

Links

Angie's Prime Grill Wikipedia Chandler, Arizona Zip Code 85226 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Angie's Prime Grill
Guarantor:Corporate
Company:Angie's Prime Grill
# Units:8
Stock:Private

About Tenant

Angie’s Prime Grill is a drive-thru QSR concept that specializes in lobster meals that are directly sourced from Maine. In addition to lobster, their menu also includes shrimp and breakfast...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	13,533	88,432	277,635
2023 Total Population :	13,684	88,768	277,321
2023 Employed Civilian Pop :	7,952	51,593	160,111
2023 Total Businesses :	406	4,154	10,192
2023 Average Household Income :	$ 162,441	$ 137,619	$ 119,790
2023 Total Consumer Spending :	$ 706 M	$ 4310 M	$ 11741 M
2023 Median Age :	41	38	37
2023 Total Households :	5,140	36,505	113,361
2023 Pop Age 25+: Bachelor's Degree :	3,627	20,630	57,463
2023 Average Home Value :	$ 499,587	$ 478,459	$ 441,125

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Ray Road	S Rural Rd	2019	17,700	0.05 mi
North Rural Road	San Brisas Apartment	2019	11,400	0.06 mi
West Ray Road	S Rural Rd	2019	15,000	0.10 mi
South Rural Road	W Ray Rd	2019	13,600	0.11 mi
N Rural Rd	W Desert St	2017	18,400	0.44 mi
West Ray Road	S Mill Ave	2019	29,168	0.46 mi
S Rural Rd	E Knox Rd	2015	19,036	0.46 mi
W Ray Rd	N Lakeshore Dr	2017	36,900	0.53 mi
W Ray Rd	N Mill Ave	2017	30,000	0.58 mi
South Rural Road	E Knox Rd	2018	18,710	0.62 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT