This fee-simple industrial property in Tucson, Arizona, presents a compelling investment opportunity. The 14,412-square-foot warehouse sits on a 3-acre lot and is 100% occupied by Ferguson Waterworks (NYSE: FERG), a highly reputable, BBB+ rated tenant with over 1,750 locations across the U.S. and Canada. The property benefits from a long-term net lease (NN+) with a remaining term of approximately 7 years, expiring December 31, 2031, and includes lease options for ten, five-year terms with a 10% rent increase each time. The current annual net operating income (NOI) is $127,200, resulting in a 6.00% capitalization rate. The lease commenced January 15, 1997, and includes a 10% rent increase effective January 1, 2027. Built in 1998, the property boasts a prime location in Pima County, strategically positioned between I-10 and I-19 freeways, offering easy access to the Tucson metro area. The property's location is within a dense industrial area with other national brands. Ferguson recently completed a $250,000 paving upgrade, demonstrating their commitment to the site. The asking price is $2,120,000, translating to $147.10 per square foot and $16.22 per square foot for land value. The property's strong tenant, long-term lease, and prime location make it an attractive investment for those seeking stable, passive income. The property's APN is 140-28-018B.
Highlights
Investment-grade tenant with a strong corporate guarantee backed by over $29 billion in annual revenue.
Ferguson Enterprises, the nation's largest distributor of plumbing supplies, occupies the property.
Publicly traded company (NYSE: FERG) with a $40.65 billion market capitalization.
E-commerce capabilities and recession-resistant business model.
Highly desirable 3-acre industrial site in a prime location.
Long-term tenant occupancy since 1991 with consistent lease renewals.
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Contacts
Ron Duong
James Andrews
Craig Elster
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2275 Ginter Rd, Tucson, Arizona, 85706
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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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2275 Ginter Rd
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