695 Ocotillo RdBenson, AZ 85602

Property Details for 695 Ocotillo Rd

Year built

1987

Construction

STEEL FRAME

Lot size

0.93 AC

Property size (Sq ft)

3,190 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

123-18-079B

APU

12318079B

Description

This exceptional investment opportunity presents a fully renovated (2024) 3,190 square foot quick-service restaurant (QSR) in Benson, Arizona. Located on a 0.93-acre lot at 695 N Ocotillo Rd, this single-story building boasts a prime location just off I-10, a major travel artery in Southeast Arizona. The property benefits from high visibility and convenient access, further enhanced by its proximity to the Quality Inn Benson, ensuring a consistent customer base. The current tenant, Filiberto's Mexican Food, operates under a Net Lease (NNN) agreement with 4.6 years remaining on the lease, offering significant stability. The lease includes attractive 3% annual rent increases throughout the base term, with potential for even higher increases in the options. The current rent is $18.81 per square foot. Extensive renovations in 2024 encompassed both interior and exterior improvements, including upgrades to the roof, windows, and HVAC system. This turnkey investment offers a compelling 7.50% cap rate on a $60,000 annual net operating income (NOI) and an asking price of $800,000. The land value is $250.78 per square foot. This sub-$1 million QSR property represents a rare opportunity for a strong return in a strategically located market. The property is 100% occupied. Built in 1987.

• CAP approach

  CAP return

  Valuation

  6%

  $464,635

  6.5%

  $428,893

  7%

  $398,258

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,337,656

  Geo Method

  $1,337,656

• Alternative Use

  Use

  Valuation

  Residential

  $361,788

  Hospitality

  $331,396

  Educational

  $275,717

  Medical

  $285,200

  Retail

  $428,893

Location Insight

City

Benson

County

Cochise

State

Arizona

Latitude

31.9765

Longitude

-110.308

CBSA code

43420

CBSA name

SIERRA VISTA-DOUGLAS, AZ MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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