810 Union Hills DrPhoenix, AZ 85024

Property Details for 810 Union Hills Dr

Year built

2024

Lot size

0.50 AC

Property size (Sq ft)

870 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 870-square-foot Starbucks located in Phoenix, Arizona. The property boasts a 10-year absolute NNN lease with Starbucks Corporation, a highly rated investment-grade tenant (S&P BBB+ Credit Rating | Moody’s Baa1 Rating), commencing August 30, 2034. The lease includes four 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The building, constructed in 2024, is a single-story, drive-thru/walk-up design with a 21-car stack, strategically positioned on a 0.497-acre lot in a high-traffic area. The property benefits from its location near Loop 101 (152,709 cars per day) and on E Union Hills Dr (54,339 cars per day), adjacent to a Goodwill anchored retail center and across from a Basha's Grocery store. The surrounding area includes numerous national retailers and is characterized by strong demographics: a 5-mile population of 286,638 and a 1-mile average household income of $114,176. The property's Net Operating Income (NOI) is $154,000, resulting in a 5.35% cap rate. The asking price is $2,879,000. This is a fee simple ownership of both the building and land, offering a secure and lucrative investment opportunity. The property is zoned C.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.6547

Longitude

-112.065

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