For Sale
$2,200,000

8530 Speedway BlvdTucson, AZ 85710

High-yield NNN lease, strong tenant, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents the fee simple interest in a 1,804 square foot Chevron gas station and convenience store in Tucson, Arizona. Located at 8530 E Speedway Blvd, this single-tenant property boasts a 20.1-year absolute NNN lease with a remaining term of 18.8 years, commencing August 1, 2023, and expiring August 31, 2043. The lease includes two 5-year renewal options and features a 10% rent increase every five years, providing excellent protection against inflation. Built in 1989 and significantly renovated in 2020, the property includes four gas pumps and a well-maintained convenience store. The property sits on a 22,366 square foot lot and enjoys 100% occupancy. The current Net Operating Income (NOI) is $132,000, resulting in a 6.00% cap rate and a price per square foot of $1,219.51. The asking price is $2,200,000. This property benefits from its strategic location near major retailers such as Walmart, Sprouts, Lowe's, Fry's, and Safeway, within a densely populated area of Tucson, Arizona, the second-largest city in the state. The tenant is backed by a strong guarantor with a net worth exceeding $19.25 million. This is a truly passive investment opportunity with minimal landlord responsibilities, making it ideal for investors seeking a hands-off, high-return investment. The property's Class B designation and strong tenant history further enhance its appeal.

Highlights

  • Fee simple ownership of a 1,804 SF Chevron gas station and convenience store in Tucson, AZ.
  • 20-year absolute NNN lease with 18.8 years remaining, commencing August 1, 2023, including two 5-year renewal options and 10% rent increases every five years.
  • Absolute NNN lease; tenant responsible for all taxes, insurance, and maintenance.
  • 10% rent increases every five years throughout the base term and two 5-year options.
  • Strong guarantor with a net worth exceeding $19.25 million.

Property Details for 8530 Speedway Blvd

Property type
Retail properties, Gas stations
Square Feet
1,804 SF
Class
B
Year Built/Renovated
1989/2020
Buildings
1
Stories
1
Units
1

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.2350358
Longitude
-110.8102859
8530 Speedway Blvd, Tucson, Arizona

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
8530 Speedway Blvd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message