George Brazil HVAC

2655 East Magnolia Street, Phoenix, AZ 85034

$7,135,000

Cap Rate 6.25%

$7,430,850

Cap Rate 6.00%

DOM: 9 Updated: 12.28.23 Posted: 12.01.23 Status: Sold 12.11.23

Summary

Price $7,135,000 $7,430,850	Built/Renov 1984/2021	Tenant George Brazil HVAC
Cap Rate 6.25% 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 35,385	Lease Start 12-01-2014	#Units 1
Price/SF $201.64 $210.00	Expiration 04-30-2035	Tenant Type Industrial
NOI $445,851	R. Term 9.11	Ownership Fee Simple
Rent/SF $12.60	Increases 3.0%/1/yrs	Pop 5Mi 303,782
Lot/AC 2.56	Options 0/0yrs	AHHI 5Mi $81,970

Lease Highlights

George Brazil HVAC has 11+ years remaining on the current lease term
Lease features 3% annual rental increases
Absolute NNN | Zero landlord responsibilities
$350,000 was recently invested to upgrade training center | $100,000 in recent roof replacement with 8.5 year warranty remaining
Corporate guaranteed lease | NearU Holdings, LLC

Location Description

George Brazil HVAC is strategically located on East Magnolia Street with excellent visibility from Interstate 10 which sees 140,000 vehicles passing per day. The 35,385 square foot building is on a 2.56 acre lot in the Sky Harbor International Airport Park. Other surrounding local businesses include Caliber Fleet Solutions, One Stop Truck Shop and Western Transport Logistics Inc. The 5-mile...

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Key Features

Recent renovation
Roof guarantee
Strategically located
Freeway visibility
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Annual rent increases
Corporate Guarantee

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Links

George Brazil HVAC Wikipedia Phoenix, Arizona Zip Code 85034 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: George Brazil HVAC
Guarantor:Corporate
Company:NearU Holdings, LLC
# Units:1
Stock:Private

About Tenant

George Brazil Air Conditioning & Heating (“George Brazil HVAC”) is a leading provider of HVAC services to residential customers in the greater Phoenix, Arizona area. Founded as George Brazil...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	962	74,560	316,391
2023 Total Population :	908	71,317	302,624
2023 Employed Civilian Pop :	413	30,414	150,673
2023 Total Businesses :	365	4,684	15,090
2023 Average Household Income :	$ 70,673	$ 68,528	$ 81,683
2023 Total Consumer Spending :	$ 17 M	$ 1430 M	$ 8462 M
2023 Median Age :	27	29	32
2023 Total Households :	275	23,556	117,314
2023 Pop Age 25+: Bachelor's Degree :	6	4,199	35,195
2023 Average Home Value :	$ 318,524	$ 311,913	$ 402,350

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
I- 10	S 24th St	2016	262,933	0.16 mi
E Old Tower Rd		2018	3,710	0.23 mi
E University Dr	S 24th St	2013	1,285	0.34 mi
S 24th St	E University Dr	2015	21,710	0.45 mi
South 24th Street	E University Dr	2019	25,143	0.45 mi
	S 24th St	2021	7,448	0.47 mi
S 24th St	Salt River Shore	2003	15,000	0.48 mi
	S 24th St	2021	11,844	0.50 mi
24th St	I- 10	2020	21,814	0.52 mi
South 24th Street	Sky Harbor Cir S	2021	24,584	0.52 mi

Listing Broker

Chris Hollenbeck

Cushman & Wakefield

Contact

37 Listings
6629 Views
31 Sold

Shane Carter

Cushman & Wakefield

Contact

37 Listings
6620 Views
31 Sold

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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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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