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Views: 101 DOM: 269 Updated: 06.20.24 Posted: 10.17.23 Status: Active

Summary

Price $1,927,000
Built/Renov 2023
Tenant Gravity Coffee
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 750
Lease Start 12-01-2023
#Units 100
Price/SF $2,569.33
Expiration 12-01-2048
Tenant Type Fast Food/QSR
NOI $118,500
R. Term 24.4
Ownership Fee Simple
Rent/SF $158.00
Increases 10.0%/5/yrs
Pop 5Mi 135,021
Lot/AC 1.19
Options 5/5yrs/10%
AHHI 5Mi $81,713

Lease Highlights

  • New 2023 construction with a drive-thru
  • Brand-new 25-year lease with 5 (5-year) options to extend
  • The lease features 10% rent increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Gravity Coffee is conveniently located at the corner of Apache Trail and Ironwood Drive, which is a primary thoroughfare with a combined daily traffic count of 45,000 vehicles. The subject property is surrounded by well-known national retailers such as Walmart, Safeway, McDonald's, Dollar Tree, and more. This strong tenant synergy in the immediate trade area enhances consumer draw and promotes...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Gravity Coffee
  • Guarantor:Corporate
  • Company:Gravity Coffee Company
  • # Units:100
  • Stock:Private

About Tenant

Gravity Coffee Company is an operator of drive-thru coffee shops largely based in the Pacific Northwest. Their stores feature modern architecture with a menu including proprietary syrups,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,817 60,512 131,376
2023 Total Population : 11,126 59,844 128,649
2023 Employed Civilian Pop : 3,953 24,792 54,606
2023 Total Businesses : 436 1,056 1,991
2023 Average Household Income : $ 64,452 $ 81,009 $ 90,119
2023 Total Consumer Spending : $ 296 M $ 1785 M $ 4110 M
2023 Median Age : 53 50 47
2023 Total Households : 5,221 25,200 52,342
2023 Pop Age 25+: Bachelor's Degree : 786 6,028 16,228
2023 Average Home Value : $ 168,110 $ 250,778 $ 304,962
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Ironwood Dr W 4th Ave 2013 9,714 0.04 mi
N Ironwood Dr Apache Trl 2013 8,257 0.06 mi
Apache Trl S Gold Dr 2016 24,437 0.08 mi
Apache Trl S Saguaro Dr 2016 24,383 0.11 mi
Apache Trl N Valley Dr 2011 20,541 0.24 mi
North Ironwood Drive W Roosevelt St 2018 7,357 0.25 mi
N Ironwood Dr W Roosevelt St 2016 7,032 0.25 mi
S Ironwood Dr W 4th Ave 2016 8,782 0.26 mi
West Apache Trail S Main Dr 2019 17,697 0.34 mi
West Apache Trail N Rennick Dr 2018 19,019 0.40 mi

Listing Broker

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