For Sale
$3,809,500

4520 Cactus RdPhoenix, AZ 85032

High-yield, 15-year ground lease. Strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 2,877 square foot Hawaiian Bros restaurant located at 4520 E Cactus Rd, Phoenix, AZ 85032. The property boasts a new construction, 15.1-year absolute NNN ground lease with a commencement date of April 1, 2024, and an expiration date of April 30, 2039, leaving 14.4 years remaining. The lease includes 12.5% rent bumps every five years and three, five-year lease options. The tenant, a franchisee of the fast-growing Hawaiian Bros Island Grill, enjoys 100% occupancy, generating a strong net operating income (NOI) of $200,000 and a 5.25% cap rate. The asking price is $3,809,500, translating to $1,324.12 per square foot. Situated on a 0.77-acre lot within the thriving PV Phoenix development, anchored by Costco and Whole Foods Market, this location benefits from an average household income exceeding $128,000 within a 5-mile radius and an estimated average unit volume of $4 million for the tenant. The strong lease guarantor, Stine Enterprises, Inc., is an established franchise group with a significant presence in Arizona and California. This property offers a compelling combination of a secure, long-term lease, a proven tenant, and a prime location in a high-growth area.

Highlights

  • New construction, 2,877 SF Hawaiian Bros restaurant with a 15-year absolute NNN ground lease.
  • Strong lease guarantor: Stine Enterprises, Inc.
  • Excellent location anchored by Costco and Whole Foods Market.
  • High average household income exceeding $128,000 within a 5-mile radius.
  • Hawaiian Bros estimated average unit volume of $4 million.

Property Details for 4520 Cactus Rd

Property type
Retail properties, Restaurants
Square Feet
2,877 SF
Year Built
2024
Lot Size (sq. ft)
33,541 SF

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.6008087
Longitude
-111.9850151
4520 Cactus Rd, Phoenix, Arizona

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4520 Cactus Rd
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