6032 16Th StPhoenix, AZ 85042

Property Details for 6032 16Th St

Lot size

0.60 AC

Zone code

C-R

Property type

Land

Property subtype

Commercial land

APN

114-29-099

APU

11429099

Description

This exceptional investment opportunity presents a fee-simple owned, 2,400 square foot Starbucks located at 6032 S 16th St, Phoenix, AZ 85042. The property boasts a brand-new, 10-year net lease with a corporate guarantee from Starbucks (NASDAQ: SBUX), featuring a 10% rent increase every five years and four, five-year lease options. Built in 2024, this single-story building sits on a 0.6-acre lot and is part of a grocery-anchored center with a recently remodeled Safeway. The high-traffic location, with over 60,000 vehicles passing daily, offers excellent street-front visibility on a major thoroughfare. Benefiting from proximity to South Mountain Community College and South Mountain High School, and just a short drive from Downtown Phoenix and I-17, this property is situated in a densely populated area (225,000 within a 5-mile radius) within one of the fastest-growing counties in the US. The property's strong financials include a $3,636,147 asking price, a 5.30% cap rate, and a net operating income (NOI) of $192,716. This is a rare opportunity to acquire a low-management, high-return investment with a blue-chip tenant in a prime location. The property features a unique "farmhouse" design and is one of Starbucks' first double drive-thru locations in Arizona. Air rights are included, totaling 2,400 square feet.

• Alternative Use

  Use

  Valuation

  Residential

  $4,630,856

  Hospitality

  $4,241,839

  Educational

  $3,529,160

  Medical

  $3,650,534

  Retail

  $5,489,805

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.3917

Longitude

-112.048

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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