2694 Market StGilbert, AZ 85295

Property Details for 2694 Market St

Year built

2023

Lot size

0.64 AC

Property size (Sq ft)

1,315 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a 1,315 square foot, single-tenant, absolute triple-net (NNN) ground lease for a Take 5 Oil Change in Gilbert, Arizona. Located at 2694 S Market St, this property boasts a 4.75% cap rate with a current NOI of $80,000. The 15-year lease, commencing June 17, 2023, and expiring June 30, 2038, includes a substantial 13.6 years remaining term. Rent increases are built-in, with a 10% bump every five years, ensuring consistent income growth. The property sits on a 0.64-acre lot and benefits from a corporate guarantee from Take 5 Oil Change, a division of Driven Brands, the largest automotive services company in North America. This prime location enjoys excellent visibility and proximity to major shopping centers, including San Tan Village Marketplace, San Tan Village, and San Tan Pavilions, as well as the Dignity Health Mercy Gilbert Medical Center. The strong demographics of the area, with a 3-mile average household income of $158,076, further enhance the investment potential. The lease includes three and five-year renewal options, providing long-term security and growth opportunities. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant upside potential. The ground lease has 13.8 years remaining, mirroring the building lease term. This property is a turnkey investment ready for immediate income generation.

Location Insight

City

Gilbert

County

Maricopa

State

Arizona

Latitude

33.3014

Longitude

-111.744

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].