For Sale
$1,786,454

19022 R H Johnson BlvdSun City West, AZ 85375

Sun City, AZ Retail Investment

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a 12,693-square-foot Bank of America branch located at 19022 N R H Johnson Blvd, Sun City, Arizona, 85375. The property sits on approximately one acre of land and is subject to a triple-net (NNN) lease with a corporate guarantee from Bank of America. The lease commenced October 1, 2004, with a 15-year initial term, and currently has 5.2 years remaining. The current annual net operating income (NOI) is $98,255, representing a 5.50% cap rate and a price per square foot of $140.74. The lease includes scheduled rent increases of 5% every five years. Built in 1981, this single-tenant property boasts 100% occupancy and offers significant long-term value due to the strong tenant and favorable lease terms. The property's location in Sun City, Arizona, provides excellent visibility and accessibility. This is a rare opportunity to acquire a stable, high-quality net lease investment with a blue-chip tenant and substantial remaining lease term. The lease has renewal options extending through 2014, demonstrating Bank of America's commitment to the location. This investment offers a compelling combination of strong cash flow, long-term stability, and significant upside potential.

Highlights

  • 12,693 SF Bank of America branch on ~1 acre in Sun City, AZ, subject to a NNN lease with corporate guarantee.
  • 5.2 years remaining on lease with options extending through 2014.
  • $98,255 annual NOI, 5.50% cap rate, $140.74/SF price.
  • 5% rent increases every five years.
  • Bank of America recently exercised an early renewal option.

Property Details for 19022 R H Johnson Blvd

Property type
Retail properties, Banks
Square Feet
12,693 SF
Year Built
1981
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Sun City West
County
Maricopa
State
Arizona
Latitude
33.6573973
Longitude
-112.3523321
19022 R H Johnson Blvd, Sun City West, Arizona

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19022 R H Johnson Blvd
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