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DOM: 234 Updated: 12.01.23 Posted: 04.01.23 Status: Sold     11.22.23

Summary

Price $2,667,000 $2,824,000
Built/Renov 2023
Tenant Whataburger (GL)
Cap Rate 4.50% 4.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,571
Lease Start 09-02-2023
#Units 325
Price/SF $746.85 $790.81
Expiration 09-01-2038
Tenant Type Fast Food/QSR
NOI $120,000
R. Term 13.1
Ownership Ground Lease
Rent/SF $33.60
Increases 8.0%/5/yrs
Pop 5Mi 277,704
Lot/AC 1.33
Options 3/5yrs/8%
AHHI 5Mi $81,602

Highlights

  • New 2023 construction
  • Brand-new 15-year lease with 3 (5-year) options to extend
  • Lease features 8% increases every 5 years throughout the initial term and at each option period
  • Absolute NNN ground lease with zero landlord responsibilities
  • Guarantee by top franchise operators Mark Peterson and Kyrstal Burge with more than 325 restaurants

Location Description

This newly constructed Whataburger is strategically located at the signalized, hard corner intersection of North 107th Avenue and West McDowell Road, visible to over 75,000 cars per day and easily accessible via Interstate 10, a major Phoenix area connector that sees more than 190,800 cars per day. Situated in the heart of Avondale's primary health, tech and retail corridor, the site is near...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Whataburger is an American regional fast food restaurant chain . The company, founded by Harmon Dobson and Paul Burton, opened its first restaurant in Corpus Christi, TX , in 1950...


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