19385 Indian School RdLitchfield Park, AZ 85340

Property Details for 19385 Indian School Rd

Year built

2022

Lot size

0.99 AC

Property size (Sq ft)

9,588 SF

Property type

Retail space

APN

502-63-942

APU

50263942

Description

This exceptional investment opportunity presents a fee-simple ownership of a 9,600 square foot Dollar Tree storefront in Litchfield Park, Arizona. The property boasts a strong corporate guarantee, a 10-year lease (commencing February 9, 2023, and expiring February 8, 2033) with three 5-year options, and a 10% rent increase at the start of each option period. Located at 19385 W Indian School Rd, 85340, on a 0.99-acre lot with 42 parking spaces, this property benefits from a high-traffic location near the intersection of W Indian School Road and N Jackrabbit Trail, within the Jackrabbit Ranch Marketplace (75,000 sq ft) and across from Village Grove at Verrado (170,000 sq ft), a shopping center anchored by Fry's Electronics, AutoZone, and Ace Hardware. The property's strong location is further enhanced by the proximity to other national retailers, including Costco, Dollar General, and CVS. The 5-mile trade area has over 96,900 residents and 5,300 employees, with average household incomes within 3 miles exceeding $154,042. The property features a Net Net Net (NNN) lease, minimizing landlord responsibilities, and a current Net Operating Income (NOI) of $120,000, representing a 5.61% cap rate. Built in 2023, this property offers a secure, low-management investment with significant upside potential due to the built-in rent escalations. The asking price is $2,140,000 ($222.92/sq ft). The property's APN is 502-63-942. 100% occupancy is currently maintained.

• CAP approach

  CAP return

  Valuation

  6%

  $2,603,560

  6.5%

  $2,403,290

  7%

  $2,231,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,537,110

  Geo Method

  $1,537,110

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,659,160

  Mixed-Use / Specialty

  $2,405,830

  Hospitality / Lodging

  $1,779,540

  Office

  $2,403,100

  Institutional / Educational

  $2,505,060

  Residential Income

  $2,930,920

  Multifamily

  $3,453,620

  Automotive / Energy

  $2,147,190

  Parking / Income-Based Land

  $729,998

  Restaurant / Food Service

  $1,274,990

  Healthcare / Senior Housing

  $2,455,740

Location Insight

City

Litchfield Park

County

Maricopa

State

Arizona

Latitude

33.4923

Longitude

-112.477

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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