For Sale
$1,350,000

12831 Cave Creek RdPhoenix, AZ 85022

1,200 SF Restaurant, High Traffic Area

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 1,200-square-foot drive-thru restaurant in Phoenix, Arizona. Located on heavily trafficked Cave Creek Road (over 30,000 cars daily), this Class B property boasts a prime location near major national tenants including Home Depot, EOS Fitness, O'Reilly Auto Parts, and Sherwin Williams. The single-tenant building, constructed in 1973, sits on a 14,262-square-foot lot (APN 166-12-029) and is zoned C-C by the City of Phoenix. Currently operating under a NNN lease with a 7.9-year remaining term (commencing December 1, 2017, and expiring October 30, 2032), the lease includes 2% annual rent increases. The property offers a current NOI of $74,400 and a pro-forma NOI of $110,000, resulting in a current cap rate of 5.51% and a pro-forma cap rate of 8.15%. The asking price is $1,350,000 ($1,125 per square foot). The existing lease provides a six-month termination clause, offering flexibility for redevelopment or owner-user occupancy. This property is a fee-simple ownership and presents a compelling opportunity for both investors and owner-users seeking a high-traffic location within a densely populated and established trade area (over 320,000 people and 101,000 employees within a 5-mile radius). The property is 100% occupied.

Highlights

  • High-traffic location with over 30,000 cars per day on Cave Creek Road.
  • Excellent proximity to national tenants including Home Depot, EOS Fitness, O'Reilly Auto Parts, and Sherwin Williams.
  • Strong demographics: over 320,000 residents and 101,000 employees within a 5-mile radius.

Property Details for 12831 Cave Creek Rd

Property type
Retail properties, Restaurants
Square Feet
1,200 SF
Class
B
Year Built
1973
Buildings
1
Stories
1
Lot Size (sq. ft)
621,252,720 SF
Units
1

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.6035123
Longitude
-112.0363425
12831 Cave Creek Rd, Phoenix, Arizona

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12831 Cave Creek Rd
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