356 Stapley DrMesa, AZ 85203

Property Details for 356 Stapley Dr

Year built

2022

Lot size

0.41 AC

Property size (Sq ft)

940 SF

Zone code

LC

Property type

Retail properties

Property subtype

Retail space

APN

138-20-024C

APU

13820024C

Description

This exceptional investment opportunity presents a newly constructed, 940-square-foot Starbucks with a drive-thru, located at 356 N Stapley Dr, Mesa, AZ 85203, in Maricopa County. The property, built in 2022, is situated on a hard corner with high visibility and boasts a strong daily traffic count of approximately 47,506 vehicles. Currently operating under a net lease with a corporate guarantee from Starbucks, the lease commenced November 23, 2022, and has a remaining term of eight years, with four five-year renewal options. The current annual net operating income (NOI) is $128,000, representing a 5.15% cap rate and a price per square foot of $2,644.08. The asking price is $2,485,436. Rent increases by 10% every five years, ensuring a growing return on investment. The property benefits from a densely populated trade area with approximately 334,180 residents within a five-mile radius and is conveniently located near three high schools, totaling approximately 6,990 students, and adjacent to an Esporta Fitness-anchored retail center. This single-tenant property offers a secure and stable investment with a globally recognized brand, making it an attractive addition to any portfolio. The property's APN is 138-20-024C & 138-20-024D.

• CAP approach

  CAP return

  Valuation

  6%

  $438,047

  6.5%

  $404,351

  7%

  $375,469

• Comparable approach

  Method

  Valuation

  Relative Method

  $534,354

  Geo Method

  $534,354

• Alternative Use

  Use

  Valuation

  Residential

  $341,085

  Hospitality

  $312,432

  Educational

  $259,940

  Medical

  $268,880

  Retail

  $404,351

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.4221

Longitude

-111.806

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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