Mobil

2649 West Indian School Road, Phoenix, AZ 85017

$2,400,000

Cap Rate 6.00%

$2,461,538

Cap Rate 5.85%

DOM: 12 Updated: 02.05.24 Posted: 12.06.23 Status: Sold 12.18.23

Summary

Price $2,400,000 $2,461,538	Built/Renov 2000	Tenant Mobil
Cap Rate 6.00% 5.85%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,895	Lease Start 04-12-2022	#Units 14
Price/SF $829.02 $850.27	Expiration 12-31-2042	Tenant Type Convenience/Gas
NOI $144,000	R. Term 17.8	Ownership Fee Simple
Rent/SF $49.74	Increases 10.0%/4/yrs	Pop 5Mi 495,776
Lot/AC 0.78	Options 2/5yrs/10%	AHHI 5Mi $81,237

Lease Highlights

Mobil has 19 years remaining on the current lease term with 2 (5-year) options
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Strong personal guaranty with guarantor net worth above $19.25M | Franchisee operates 14 locations

Location Description

Mobil is strategically positioned at the signalized hard corner intersection of Indian School Road and 27th Avenue, experiencing a high traffic volume of over 99,500 vehicles daily. Additionally, it benefits from its proximity to the I-17 Freeway, boasting 220,585 vehicles per day. The surrounding area features notable retailers such as Super 8, 7-Eleven, and Lenny's Burgers. Moreover, the...

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Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Freeway close
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Personal guarantee

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Links

Mobile Wikipedia Mobile Wikipedia Phoenix, Arizona Zip Code 85017 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Mobil
Guarantor:Franchisee
Company:West Coasts Petroleum Newports
# Units:14
Tenant S&P: AA-
Moody’s: Aa2
Stock: NYSE: XOM

About Tenant

Mobil is an American petroleum brand which operates gasoline stations and distributes oil and petroleum based products worldwide.. Mobil credits itself with being the first company to introduce...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	27,804	192,257	505,452
2023 Total Population :	28,042	190,944	495,776
2023 Employed Civilian Pop :	11,853	86,842	227,468
2023 Total Businesses :	752	6,669	18,246
2023 Average Household Income :	$ 58,686	$ 77,384	$ 81,237
2023 Total Consumer Spending :	$ 486 M	$ 4493 M	$ 12771 M
2023 Median Age :	27	30	32
2023 Total Households :	9,279	65,744	178,444
2023 Pop Age 25+: Bachelor's Degree :	1,314	15,688	49,336
2023 Average Home Value :	$ 281,333	$ 356,332	$ 390,062

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Indian School Road	N 27th Ave	2019	52,290	0.06 mi
W Indian School Rd	N Black Canyon Hwy	2015	47,585	0.09 mi
N 27th Ave	W Weldon Ave	2011	19,465	0.15 mi
N Black Canyon Hwy	W Indian School Rd	2010	15,340	0.21 mi
Indian School Rd	W Indian School Rd	2020	47,583	0.22 mi
Black Canyon Freeway	Grand Ave	2021	53,626	0.22 mi
	W Indianola Ave	2021	13,315	0.23 mi
N Black Canyon Hwy	W Indian School Rd	2010	14,403	0.23 mi
	W Indianola Ave	2021	12,755	0.26 mi
	W Indianola Ave	2018	12,668	0.26 mi

Listing Broker

Shane Carter

Cushman & Wakefield

Contact

37 Listings
6598 Views
31 Sold

Chris Hollenbeck

Cushman & Wakefield

Contact

37 Listings
6607 Views
31 Sold

Shane Carter

Shane Carter is a member of a multi-service retail brokerage team in Phoenix, Arizona along with Chris Hollenbeck and Brent Mallonee. One of Arizona’s premier retail teams, they are able to assist clients with expertise in site acquisition, project development, project leasing and investment sales. Working in conjunction with his team, Shane has been able to provide prominent owners, users and developers with astute acquisition, disposition and market growth strategies. Since starting his comme

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Chris Hollenbeck

Mr. Hollenbeck is a member of a multi-service retail team that delivers comprehensive, integrated real estate services to retail investors, developers and occupiers. He specializes in Capital Markets and manages his team’s national Investment Services Portfolio. Mr. Hollenbeck has an extensive history in the sale of retail properties through his past and current career experience at a national development company. Since moving to commercial retail brokerage, he completed over 1,000 transactions

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