2650 Market StGilbert, AZ 85295

  • Retail properties
  • 7,800 SF
For Sale
$3,410,000 View listing

Property Details for 2650 Market St

Year built
2023
Lot size
2.90 AC
Property size (Sq ft)
7,800 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a single-tenant, 7,800 square-foot Portillo's restaurant on a substantial 2.9-acre lot in Gilbert, Arizona. Built in 2023, this property boasts a strong financial profile with an absolute triple-net (NNN) ground lease featuring a corporate guarantee and 8.4 years remaining, extending to March 31, 2033, with four or five-year renewal options. The lease includes a 10% rent increase every five years, ensuring consistent income growth. The current annual rent is $150,000, generating a net operating income (NOI) of $150,000, resulting in a 4.40% cap rate at the asking price of $3,410,000. This prime location at 2650 S Market St, Gilbert, AZ 85295, benefits from exceptional demographics, including a total population of approximately 124,339 and an average household income of $158,076 within a 3-mile radius. The property enjoys high visibility and significant consumer traffic due to its proximity to major retail centers such as San Tan Village Marketplace, San Tan Village, and San Tan Pavilions, as well as the Dignity Health Mercy Gilbert Medical Center. This is a rare opportunity to acquire a well-performing, established restaurant ground lease with significant long-term growth potential. The property's location and tenant strength make it an attractive addition to any investment portfolio.

2650 Market St, Gilbert, Arizona

Location Insight

City
Gilbert
County
Maricopa
State
Arizona
Latitude
33.3022
Longitude
-111.744

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