For Sale
$2,594,000

1503 Florence Blvd Casa Grande, AZ 85122

Prime location, 15-year NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a brand-new, state-of-the-art, 1,438 square foot auto shop in Casa Grande, Arizona. Located at 1503 E Florence Blvd, this single-tenant property boasts a prime, signalized hard-corner location with nearly 65,000 vehicles passing daily. The property features a 15-year absolute triple-net (NNN) lease with a highly reputable franchisee, ensuring zero landlord responsibilities. Rent increases by 10% every five years, providing significant long-term growth potential. The current NOI is $155,648, yielding a 6.00% cap rate at the asking price of $2,594,000. Built in 2023, this Class B property sits on a 0.83-acre lot with six parking spaces. The tenant, a top-performing Take 5 Oil Change location (second best nationally), benefits from its proximity to major retailers including Home Depot, Lowe's, Walmart, and numerous restaurants and businesses. The property is also conveniently located near a major hospital and a large, newly developed shopping center. The lease includes six, 5-year options, further securing long-term income. This is a rare opportunity to acquire a high-performing asset in a rapidly growing market with significant upside potential. The property's strong tenant, favorable lease terms, and prime location make it an ideal investment for discerning buyers.

Highlights

  • $2,594,000 asking price for a 1,438 SF Class B retail auto shop in Casa Grande, AZ.
  • Absolute NNN lease with a creditworthy franchisee tenant (Take 5 Oil Change) for 15 years, with 10% rent bumps every 5 years.
  • 6.00% cap rate based on a $155,648 NOI.
  • 100% occupancy in a brand-new, state-of-the-art building constructed in 2023.
  • High-traffic location with excellent visibility on a signalized corner, boasting approximately 65,000 vehicles per day.
  • Strong surrounding retail environment including major national brands and new developments.

Property Details for 1503 Florence Blvd

Property type
Retail properties, Auto shops
Square Feet
1,438 SF
Class
B
Year Built
2023
Buildings
1
Lot Size (sq. ft)
36,155 SF
Units
1

Location Insight

City
Casa Grande
County
Pinal
State
Arizona
Latitude
32.8791419
Longitude
-111.7225495

FAQs

What type of property is this?
Retail property - Prime location, 15-year NNN lease.
Where is the retail property located?
The property is located at 1503 Florence Blvd Casa Grande, AZ.
What is the asking price?
The asking price for this property is $2,594,000.
What are key features of this property?
This property features: $2,594,000 asking price for a 1,438 SF Class B retail auto shop in Casa Grande, AZ.; Absolute NNN lease with a creditworthy franchisee tenant (Take 5 Oil Change) for 15 years, with 10% rent bumps every 5 years.; 6.00% cap rate based on a $155,648 NOI.
How can I contact the broker?
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1503 Florence Blvd
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