This exceptional investment opportunity presents a 7,200 square foot Red Robin restaurant located at 1375 W Elliot Rd, Tempe, AZ 85284. The property boasts a prime location in a major retail corridor, situated on a 1.26-acre lot (APN 301-53-059) with excellent visibility on Elliot Road, experiencing over 56,000 vehicles daily and less than a mile from I-10. This Costco outparcel benefits from its proximity to numerous national retailers including Walmart, Ikea, Life Time Fitness, and many more, ensuring high foot traffic and brand recognition. The property features a 12-year remaining lease term (NNN) with a strong tenant history exceeding 30 years, guaranteeing consistent income. With a current NOI of $222,480 and a 6.00% cap rate, this represents a compelling investment at an asking price of $3,708,000 ($515/sq ft). The area boasts a dense residential population of over 216,000 residents within minutes, exhibiting a high household income exceeding $98,000, and a substantial daytime employment base of over 170,000 within a 2-mile radius, including major employers like Swire Coca-Cola, Honeywell, and American Airlines. The property is currently 100% occupied, offering immediate and substantial returns. This is a rare opportunity to acquire a well-established, high-performing asset in a thriving retail environment.
Highlights
Excellent visibility on Elliot Road, with over 56,000 vehicles per day and less than a mile from I-10.
Prime retail location in a Costco outparcel, surrounded by national retailers including Walmart, Ikea, and Life Time Fitness.
High daytime employment, with over 170,000 employees within a 2-mile radius, including major employers like Honeywell and American Airlines.
Dense residential population of over 216,000 residents within minutes, boasting average household incomes exceeding $98,000.
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Contacts
Peter LeBlanc
Alec Miller
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1375 Elliot Rd, Tempe, Arizona, 85284
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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1375 Elliot Rd
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