16 Mckellips RdMesa, AZ 85201

Property Details for 16 Mckellips Rd

Year built

1985

Lot size

0.67 AC

Property size (Sq ft)

2,758 SF

Zone code

LC

Property type

Other commercial real estate

APN

136-17-003S

APU

13617003S

Description

This exceptional investment opportunity presents a brand-new, 1,585 square foot Gravity Coffee location in Mesa, Arizona. Built in 2024, this property boasts a prime location on East McKellips Road, a high-traffic thoroughfare with over 68,000 cars daily. The property features a drive-thru, crucial for this thriving QSR/Restaurant concept. The 25.1-year net lease, commencing December 15, 2024, and expiring December 31, 2049, includes a corporate guarantee and attractive 10% rent bumps every five years, ensuring consistent income growth. With a current net operating income (NOI) of $130,000 and a 5.80% cap rate, this offering provides a strong return on investment. The tenant, Gravity Coffee, is a rapidly expanding franchise with over 50 locations across nine states, demonstrating a proven business model. Situated on a 0.674-acre lot, this property benefits from a robust trade area with over 265,098 residents within a five-mile radius. The lease includes five, five-year renewal options, providing long-term stability and potential for future appreciation. This is a rare opportunity to acquire a high-performing, established brand in a rapidly growing market. The asking price is $2,241,000, representing a price per square foot of $1,413.88.

• Alternative Use

  Use

  Valuation

  Residential

  $1,000,759

  Hospitality

  $916,690

  Educational

  $762,675

  Medical

  $788,905

  Retail

  $1,186,384

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4519

Longitude

-111.832

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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