12831 Cave Creek RdPhoenix, AZ 85022

Property Details for 12831 Cave Creek Rd

Year built

1973

Construction

CONCRETE

Lot size

0.33 AC

Property size (Sq ft)

1,155 SF

Zone code

C-C

Property type

Retail properties

Property subtype

Drive through restaurants

APN

166-12-029

APU

16612029

Description

This exceptional investment opportunity presents a 1,200-square-foot drive-thru restaurant in Phoenix, Arizona. Located on heavily trafficked Cave Creek Road (over 30,000 cars daily), this Class B property boasts a prime location near major national tenants including Home Depot, EOS Fitness, O'Reilly Auto Parts, and Sherwin Williams. The single-tenant building, constructed in 1973, sits on a 14,262-square-foot lot (APN 166-12-029) and is zoned C-C by the City of Phoenix. Currently operating under a NNN lease with a 7.9-year remaining term (commencing December 1, 2017, and expiring October 30, 2032), the lease includes 2% annual rent increases. The property offers a current NOI of $74,400 and a pro-forma NOI of $110,000, resulting in a current cap rate of 5.51% and a pro-forma cap rate of 8.15%. The asking price is $1,350,000 ($1,125 per square foot). The existing lease provides a six-month termination clause, offering flexibility for redevelopment or owner-user occupancy. This property is a fee-simple ownership and presents a compelling opportunity for both investors and owner-users seeking a high-traffic location within a densely populated and established trade area (over 320,000 people and 101,000 employees within a 5-mile radius). The property is 100% occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $277,242

  6.5%

  $255,915

  7%

  $237,636

• Comparable approach

  Method

  Valuation

  Relative Method

  $448,669

  Geo Method

  $448,669

• Alternative Use

  Use

  Valuation

  Residential

  $215,874

  Hospitality

  $197,740

  Educational

  $164,517

  Medical

  $170,175

  Retail

  $255,915

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.6035

Longitude

-112.036

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].