$2,307,692
Commercial Property for Sale in Sierra Vista Arizona 85635
Sierra Vista, Arizona
Soft OfferCommercial Property for Sale in Phoenix Arizona 85042
6032 S 16th St, Phoenix, Arizona 85042
$3,636,147
$1,515 / sq ft 5.3% cap rate Listed Oct 8, 2024
2,400 sqft
Building
2,400 sqft
Lot
2024
Built
1
Stories
1
Units
Class A
Class
About this property
Commercial Property for Sale in Phoenix Arizona 85042 is a retail for sale in Phoenix, Arizona, listed at $3,636,147. Key details: year built 2024, building size 2,400 sqft, lot size 2,400 sqft, stories 1. Listed by Tim Westfall of Echo West Capital Advisors on LoopingCloud and last updated October 8, 2024.
This property offers a new 10-year lease with 10% rental increases every 5 years, making it a low-management investment. The lease is corporately guaranteed by Starbucks, the world's largest coffee company (NASDAQ: SBUX), with over 38,000 stores in 87 countries and a BBB+ credit rating.
The newly constructed, freestanding building features a double drive-thru, located in a high-traffic area next to a recently remodeled Safeway. It also benefits from proximity to South Mountain Community College and High School, and is just minutes from Downtown Phoenix. With nearly 225,000 residents within a 5-mile radius, this is a prime investment in a thriving market.
Key highlights
- Starbucks
- Lease Term 10 years
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Year Built
- 2024
- Building Size
- 2,400 sqft
- Lot Size
- 2,400 sqft
- Stories
- 1
- Total Units
- 1
- Building Class
- Class A
- Occupancy
- 100%
- Property Status
- Normal Sale
- Building Status
- Existing
Pricing details
- Net Operating Income
- $192,716
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
5.3%
Cap rate
$192,716
Net operating income
$1,515
Price per sq ft
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $3,636,147 | 5.3% | - | - | - |
Features and amenities
Prominent Tenants
- Starbucks
- Lease Term 10 years
Highlights
- Lease is corporately guaranteed by the largest coffee company in the world (NASDAQ: SBUX) with over 38,000 stores in 87countries making this a truly safe investment for any prospective investor.
- Freestanding, double drive-thru with patio, featuring a unique “farmhouse” design.
- Situated as a retail outparcel to a recently remodeled Safeway in a high-traffic area with 60,000 vehicles per day.
- Near South Mountain Community College (4,000 students) and South Mountain High School (2,000 students); just 10 minutes from Downtown Phoenix.
Location
Address as shown by the lister.
Get directionsNeighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Property documents
1 file to downloadFrequently asked questions
What is the asking price of Commercial Property for Sale in Phoenix Arizona 85042?
Commercial Property for Sale in Phoenix Arizona 85042 is listed at $3,636,147. That works out to about $1,515 per square foot. The stated cap rate is 5.3%.
Where is Commercial Property for Sale in Phoenix Arizona 85042 located?
The property is in 6032 S 16th St, Phoenix, Arizona 85042, Maricopa County.
What type of property is this?
This is a retail for sale in the commercial category.
How big is the property?
The building is 2,400 sqft. The lot is 2,400 sqft.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Tim Westfall of Echo West Capital Advisors listed this property. Use the Request Info button to send a message or call (602) 628-6298.
When was this listing published?
It was published on October 8, 2024 and last updated on October 8, 2024.
Listing information
- Listing ID
- CL-Arizona-12351
- Published
- Oct 8, 2024
- Last updated
- Oct 8, 2024
- Views
- 416
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