19022 R H Johnson BlvdSun City West, AZ 85375

Property Details for 19022 R H Johnson Blvd

Year built

1981

Construction

STEEL FRAME

Lot size

1.29 AC

Property size (Sq ft)

12,850 SF

Zone code

C-C

Property type

Banks

APN

232-12-002

APU

23212002

Description

This exceptional investment opportunity presents a 12,693-square-foot Bank of America branch located at 19022 N R H Johnson Blvd, Sun City, Arizona, 85375. The property sits on approximately one acre of land and is subject to a triple-net (NNN) lease with a corporate guarantee from Bank of America. The lease commenced October 1, 2004, with a 15-year initial term, and currently has 5.2 years remaining. The current annual net operating income (NOI) is $98,255, representing a 5.50% cap rate and a price per square foot of $140.74. The lease includes scheduled rent increases of 5% every five years. Built in 1981, this single-tenant property boasts 100% occupancy and offers significant long-term value due to the strong tenant and favorable lease terms. The property's location in Sun City, Arizona, provides excellent visibility and accessibility. This is a rare opportunity to acquire a stable, high-quality net lease investment with a blue-chip tenant and substantial remaining lease term. The lease has renewal options extending through 2014, demonstrating Bank of America's commitment to the location. This investment offers a compelling combination of strong cash flow, long-term stability, and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $4,525,526

  6.5%

  $4,177,408

  7%

  $3,879,022

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,991,686

  Geo Method

  $4,991,686

• Alternative Use

  Use

  Valuation

  Residential

  $3,523,800

  Hospitality

  $3,227,782

  Educational

  $2,685,477

  Medical

  $2,777,834

  Retail

  $4,177,408

Location Insight

City

Sun City West

County

Maricopa

State

Arizona

Latitude

33.6573

Longitude

-112.352

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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