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.
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Contacts
Mark Ruble
Chris Lind
Zack House
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4520 Cactus Rd, Phoenix, Arizona, 85032
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4520 Cactus Rd
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