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Views: 95 DOM: 261 Updated: 05.30.24 Posted: 10.25.23 Status: Active

Summary

Price $1,951,219
Built/Renov 2023
Tenant Salad and Go (GL)
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 830
Lease Start 12-31-2023
#Units 79
Price/SF $2,350.87
Expiration 12-30-2043
Tenant Type Fast Food/QSR
NOI $120,000
R. Term 19.5
Ownership Ground Lease
Rent/SF $144.58
Increases 10.0%/5/yrs
Pop 5Mi 180,988
Lot/AC 0.67
Options 3/5yrs/10%
AHHI 5Mi $152,484

Lease Highlights

  • Brand new 2023 construction
  • Salad and Go recently signed a new 20-year ground lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the primary term & option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The subject property is strategically located at the intersection of Noble Seven Lane and University Blvd. which see a combined daily traffic count in excess of 19,868 vehicles per day. It is near the Village at Riverstone, a 165,079 SF shopping center anchored by Kroger, with other major tenants including MOD Pizza, Orange Theory Fitness, Chase Bank, Wendy’s, and many more, creating a strong...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Salad and Go
  • Guarantor:Corporate
  • Company:And Go Concepts, LLC
  • # Units:79
  • Stock:Private

About Tenant

Founded in 2013 in Gilbert AZ, Salad and Go is a gourmet salad drive-thru restaurant chain located throughout the Phoenix Valley. The chain’s mission is to make ready-to-eat food available and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,496 88,949 319,946
2023 Total Population : 8,323 86,391 311,740
2023 Employed Civilian Pop : 4,439 44,167 152,372
2023 Total Businesses : 287 5,837 12,983
2023 Average Household Income : $ 133,310 $ 117,039 $ 109,647
2023 Total Consumer Spending : $ 360 M $ 3052 M $ 9572 M
2023 Median Age : 47 39 36
2023 Total Households : 3,232 30,819 102,264
2023 Pop Age 25+: Bachelor's Degree : 2,174 17,627 57,238
2023 Average Home Value : $ 377,187 $ 351,993 $ 336,201
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mill Place Ct Mill Run Dr 2011 130 0.24 mi
Seventh St 2007 4,421 0.28 mi
Bournewood Dr Green Belt Dr 2011 1,340 0.28 mi
St Theresa Blvd 2001 240 0.29 mi
Wood St 7th St 2007 1,280 0.30 mi
Seventh St 2007 6,186 0.32 mi
Jess Pirtle Blvd Mill Run Dr 2011 4,980 0.36 mi
7th St FM 1876 Rd 2011 2,810 0.43 mi
Lakeview Dr FM 1876 Rd 2011 920 0.44 mi
Seventh St 2006 5,960 0.46 mi

Listing Broker

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