24988 Ellsworth RdQueen Creek, AZ 85142

Property Details for 24988 Ellsworth Rd

Year built

2023

Lot size

0.90 AC

Property size (Sq ft)

2,808 SF

Property type

Retail properties

Property subtype

Auto shops

APN

314-02-913

APU

31402913

Description

This exceptional investment opportunity presents a 1,405 square foot, free-standing Take 5 Oil Change located in Queen Creek, Arizona. Built in 2023, this property boasts a 14-year remaining lease term with two 5-year options and one 4-year + 11-month option, all with a 10% rent increase every five years. The absolute NNN lease provides a landlord with zero responsibilities, secured by a corporate guarantee from Driven Brands (NASDAQ: DRVN), a company with over $2.32 billion in annual revenue. The property sits on a 0.9-acre lot and enjoys exceptional visibility, with over 65,000 vehicles passing daily. Its prime location is adjacent to numerous high-traffic businesses, including Fry's Marketplace, Fat Cats, and EOS Fitness, and is surrounded by a dense residential area with nearly 150,000 residents within a 5-mile radius, and significant future residential development planned. The average household income within a 1-mile radius exceeds $165,000. The property generates a Net Operating Income (NOI) of $80,000, representing a 5.00% cap rate and a current asking price of $1,600,000. This is a below-market ground lease, offering significant long-term upside potential in one of Arizona's fastest-growing areas. The property's APN is 314-02-913. The address is 24988 S Ellsworth Rd, Queen Creek, AZ 85142.

• CAP approach

  CAP return

  Valuation

  6%

  $1,229,095

  6.5%

  $1,134,549

  7%

  $1,053,510

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,494,071

  Geo Method

  $1,494,071

• Alternative Use

  Use

  Valuation

  Residential

  $957,034

  Hospitality

  $876,638

  Educational

  $729,353

  Medical

  $754,436

  Retail

  $1,134,549

Location Insight

City

Queen Creek

County

Maricopa

State

Arizona

Latitude

33.2216

Longitude

-111.635

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].