3225 Peoria AvePhoenix, AZ 85029

Property Details for 3225 Peoria Ave

Year built

2023

Lot size

0.79 AC

Property size (Sq ft)

3,600 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 3,600 square foot, free-standing Cafe Zupas restaurant located at 3225 W Peoria Ave, Phoenix, AZ 85029. The property boasts a strong 5.40% cap rate, generating a net operating income (NOI) of $180,000 annually. Secured by a corporate guarantee, the net lease (NN) features a 15-year term commencing February 1, 2024, and expiring January 31, 2039, leaving approximately 14.2 years remaining. Rent increases of 10% every five years provide significant long-term growth potential. The property sits on a 0.79-acre lot and benefits from high visibility on W Peoria Ave, with over 95,000 cars passing daily. The location is in a dense Phoenix infill area, with 448,011 residents within a five-mile radius and is less than a mile from a planned $850 million Metrocenter Mall redevelopment. Nearby tenants include well-known brands such as Chick-fil-A, Starbucks, Ross Stores, PetSmart, and Burlington. Built in 2023, this property offers a secure, high-performing investment with substantial upside. The asking price is $3,333,000, translating to a price per square foot of $925.83. The lease includes two, five-year renewal options. 100% occupancy ensures immediate cash flow.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.5818

Longitude

-112.13

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