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The Habit Burger Grill

1054 East Southern Avenue, Mesa, AZ 85204

$2,863,363

Cap Rate 5.45%

$2,888,888

Cap Rate 5.40%

DOM: 253 Updated: 06.10.24 Posted: 09.11.23 Status: Sold 05.22.24

Summary

Price $2,863,363 $2,888,888
Built/Renov 2023
Tenant The Habit Burger Grill
Cap Rate 5.45% 5.40%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,962
Lease Start 10-04-2023
#Units 378
Price/SF $966.70 $975.32
Expiration 09-30-2033
Tenant Type Fast Casual/Rest.
NOI $156,000
R. Term 8.4
Ownership Fee Simple
Rent/SF $52.67
Increases 10.0%/5/yrs
Pop 5Mi 404,637
Lot/AC 0.83
Options 2/5yrs/10%
AHHI 5Mi $95,678

Shane Carter
Cushman & Wakefield
Contact

Chris Hollenbeck
Cushman & Wakefield
Contact

Lease Highlights

  • Brand-new 2023 construction
  • Tenant will sign a new 10-year lease with 2 (5-year) options to extend
  • Lease features 10% rental increases every 5 years
  • Favorable NN+ lease with landlord responsible for roof & structure (New 10-year roof warranty)
  • Corporate guaranteed lease

Location Description

This newly constructed Habit Burger Grill is strategically positioned facing E. Southern Ave, which sees more than 21,038 VPD, and is .5 miles from U.S. Hwy 60 (232,508+VPD). Located in a grocery store anchored shopping center, the property is within a major retail hub with neighboring tenants including T-Mobile, Walgreens, Panda Express, Taco Bell and more, creating a strong consumer draw to...

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Key Features

  • New construction

  • Roof guarantee

  • Shopping Ctr out-parcel

  • Highway close

  • Dense 200M+ pop 5 mi

  • Affluent suburb location

  • Brand new lease

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

    • ...

Links

The Habit Burger Grill Wikipedia The Habit Burger Grill Wikipedia Mesa, Arizona Zip Code 85204 Broker Site Page

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

The Habit Restaurants Inc. is a burger-centric, fast-casual restaurant concept. It specializes in preparing fresh, made-to-order char-grilled burgers and sandwiches featuring USDA choice tri-tip...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 18,716 158,618 404,637
2023 Total Population : 19,018 158,570 405,621
2023 Employed Civilian Pop : 9,113 80,084 210,184
2023 Total Businesses : 696 6,043 13,249
2023 Average Household Income : $ 82,526 $ 84,883 $ 95,678
2023 Total Consumer Spending : $ 412 M $ 4350 M $ 13040 M
2023 Median Age : 29 32 35
2023 Total Households : 5,673 58,315 156,243
2023 Pop Age 25+: Bachelor's Degree : 1,254 17,732 58,817
2023 Average Home Value : $ 325,561 $ 379,446 $ 395,730
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Stapley Drive E Glade Ave 2019 34,479 0.20 mi
S Stapley Dr E Hilton Ave 2015 35,089 0.29 mi
South Stapley Drive E Hilton Ave 2018 40,558 0.29 mi
East Southern Avenue S Horne 2018 19,720 0.29 mi
South Horne E Glade Ave 2018 6,225 0.41 mi
S Horne E Glade Ave 2015 6,700 0.42 mi
South Horne E Glade Ave 2017 6,757 0.42 mi
S Stapley Dr E Millett Ave 2010 29,800 0.44 mi
South Stapley Drive E Millett Ave 2018 32,570 0.44 mi
E Southern Ave S Horne 2014 20,014 0.44 mi

Listing Broker

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