For Sale
$2,120,000

2275 Ginter RdTucson, AZ 85706

14,412 SF Warehouse, 6% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Property Details for 2275 Ginter Rd

Property type
Warehouses, Industrial properties
Square Feet
14,412 SF
Year Built
1998
Lot Size (sq. ft)
130,680 SF

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.1378971
Longitude
-110.9374673
2275 Ginter Rd, Tucson, Arizona

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2275 Ginter Rd
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