For Sale
$1,600,000

1765 University DrTempe, AZ 85288

High-yield QSR investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 546 square foot, absolute triple-net (NNN) leased property featuring The Human Bean, a well-established franchisee. Located at 1765 E University Dr, Tempe, AZ 85288, this property boasts a prime location near Arizona State University, benefiting from high visibility and significant daily traffic (74,000 cars per day). The 0.71-acre lot includes rights to 41 off-site parking spaces. The lease commenced May 1, 2017, with a 10-year term and 3% annual rent increases, providing a strong, predictable income stream. The current lease has approximately 2.4 years remaining, with options for renewal. The property generates a Net Operating Income (NOI) of $88,550, resulting in a 5.53% cap rate. Built in 2017, this property is situated in a thriving area with a population of 354,703 within the trade area and is just minutes from Tempe Marketplace, a major retail destination. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential. The ground lease expires April 30, 2027.

Highlights

  • Absolute Triple-Net (NNN) ground lease with 3% annual rent increases; 0.71-acre parcel includes rights to 41 off-site parking spaces.
  • High visibility location on University Dr. in Tempe, AZ, with 74,000 cars per day passing by.
  • Excellent location near Arizona State University's Tempe campus, serving 79,500+ students.
  • Infill Tempe location within a trade area of 354,703 residents.
  • Two-minute proximity to Tempe Marketplace, a 1.3 million square foot retail center.

Property Details for 1765 University Dr

Property type
Retail properties, Restaurants
Square Feet
546 SF
Year Built
2017
Lot Size (sq. ft)
30,928 SF

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.4215317
Longitude
-111.9110855
1765 University Dr, Tempe, Arizona

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1765 University Dr
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