Ojos Locos
Phoenix, AZ
Key Details
| Price: | $4,658,959 |
|---|---|
| Cap Rate: | 6.15% |
| Annual Rent: | $286,526 |
| Address: | 9040 North Black Canyon Highway, Phoenix, Arizona 85051 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 7/2/2021 |
| Lease Expiration: | 7/31/2041 |
| Lease Term Remaining: | 16.9 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.44 Acres |
| Building Size: | 7,385 SF |
| Year Built: | 2021 |
NNN Pro is pleased to present the exclusive listing for a Ojos Locos located at 9040 North Black Canyon Highway, Phoenix, Arizona 85051. The site consists of roughly 7385 rentable square feet of building space on an estimated 0.44-acre parcel of land. This Ojos Locos is subject to a 20-year Triple Net (NNN) lease, which commenced 7/2/2021. The current annual rent is $286,526 and has scheduled increases of 2.00% Annually.
About the Investment
- 20-Year Absolute NNN Lease | The lease commenced on 7/2/2021 and has ~17 years remaining. The lease carries no landlord responsibilities.
- Corporate Guaranty | The lease features a corporate guaranty from Crazy Eyes Holdings, LLC, the parent company of Ojos Locos.
- Attractive Rental Increase | Structure The lease features 2.00% annual rental increases offering an attractive hedge against inflation.
- Excellent Unit-Level Economics | Please contact listing broker for more details.
Key Details
| Price: | $4,658,959 |
|---|---|
| Cap Rate: | 6.15% |
| Annual Rent: | $286,526 |
| Address: | 9040 North Black Canyon Highway, Phoenix, Arizona 85051 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 7/2/2021 |
| Lease Expiration: | 7/31/2041 |
| Lease Term Remaining: | 16.9 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.44 Acres |
| Building Size: | 7,385 SF |
| Year Built: | 2021 |
Talk to the Pros
Thomas Jonsson
tjonsson@nnnpro.com
License: AZ: BR695596000
Broker of Record
Thomas Jonsson
NNN Properties - Arizona
License: BR695596000
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.