For Sale
$3,100,000

3202 Shea BlvdPhoenix, AZ 85028

High-Yield Starbucks Investment, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a brand-new, 2,400 square foot Starbucks located in a high-traffic area of Phoenix, Arizona. Built in 2021, this Class A property boasts a 10-year net lease with a credit-rated tenant, ensuring consistent cash flow. Situated at the signalized intersection of E Shea Boulevard and N 32nd Street (over 41,300 vehicles daily), the property benefits from high visibility and accessibility. As an outparcel to a Bashas Grocery-anchored shopping center, it enjoys synergistic traffic and crossover shopping opportunities. The strong demographics are undeniable, with an average household income exceeding $115,500 within a 1-mile radius and nearly 275,000 residents within a 5-mile radius. The current NOI is $128,000, with a pro-forma NOI of $137,600, reflecting an attractive 4.13% cap rate and a pro-forma cap rate of 4.44%. The property's 100% occupancy and upcoming rent bumps further enhance its investment appeal. This is a rare chance to acquire a stable, high-performing asset in a thriving Phoenix market. The asking price is $3,100,000.

Highlights

  • $3,100,000 asking price for a Net Leased Starbucks in Phoenix, AZ.
  • Class A, 2,400 SF, newly built (2021) Starbucks with a 10-year lease commencing December 1, 2021.
  • Located in an affluent area near Paradise Valley and Scottsdale, with high household incomes.
  • Strong location at a signalized intersection with high daily traffic counts (over 41,300 vehicles).
  • Outparcel to a Bashas' Grocery-anchored shopping center.
  • 100% occupancy with a credit-rated tenant (Starbucks).

Property Details for 3202 Shea Blvd

Property type
Lifestyle centers, Power centers
Square Feet
2,400 SF
Class
A
Year Built
2021

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.5828429
Longitude
-112.012671
3202 Shea Blvd, Phoenix, Arizona

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3202 Shea Blvd
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