8530 Speedway BlvdTucson, AZ 85710

Property Details for 8530 Speedway Blvd

Year built

1989

Construction

STEEL FRAME

Lot size

0.51 AC

Property size (Sq ft)

1,803 SF

Property type

Gas stations

APN

133-25-1840

APU

133251840

Description

This exceptional investment opportunity presents the fee simple interest in a 1,804 square foot Chevron gas station and convenience store in Tucson, Arizona. Located at 8530 E Speedway Blvd, this single-tenant property boasts a 20.1-year absolute NNN lease with a remaining term of 18.8 years, commencing August 1, 2023, and expiring August 31, 2043. The lease includes two 5-year renewal options and features a 10% rent increase every five years, providing excellent protection against inflation. Built in 1989 and significantly renovated in 2020, the property includes four gas pumps and a well-maintained convenience store. The property sits on a 22,366 square foot lot and enjoys 100% occupancy. The current Net Operating Income (NOI) is $132,000, resulting in a 6.00% cap rate and a price per square foot of $1,219.51. The asking price is $2,200,000. This property benefits from its strategic location near major retailers such as Walmart, Sprouts, Lowe's, Fry's, and Safeway, within a densely populated area of Tucson, Arizona, the second-largest city in the state. The tenant is backed by a strong guarantor with a net worth exceeding $19.25 million. This is a truly passive investment opportunity with minimal landlord responsibilities, making it ideal for investors seeking a hands-off, high-return investment. The property's Class B designation and strong tenant history further enhance its appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $262,613

  6.5%

  $242,412

  7%

  $225,097

• Comparable approach

  Method

  Valuation

  Relative Method

  $756,048

  Geo Method

  $756,048

• Alternative Use

  Use

  Valuation

  Residential

  $204,484

  Hospitality

  $187,306

  Educational

  $155,836

  Medical

  $161,196

  Retail

  $242,412

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.235

Longitude

-110.81

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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