For Sale - NNN Leased Investment ACE Hardware
Listing was updated at: 08/28/2019
Property Overview
Price/Rent PSF $ 2,100,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 13,979
Date Available 08/28/2019
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Floors 1
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Located within 3 miles of the vibrant Westgate Entertainment District, Tanger Outlets, StateFarm Stadium, and Gila River Arena. StateFarm Stadium is home to the Arizona Cardinals, a 1.7 million square foot facility with 63,400 permanent seats, and 88 luxury lofts, that has been consecutively sold out for 52 games. Gila River Arena is the premier home to the Arizona Coyotes, capable of accommodating 17,779 seats. Also located within 5 miles of Camelback Ranch, the spring training destination that hosts the Los Angeles Dodgers and Chicago White Sox that includes modern features and panoramic views. The subject property is only 3 miles away from Top Golf, a premier entertainment venue for golf with contemporary amenities. Nearby shopping centers include a Walmart Supercenter and a Fry’s shopping center. Right across the street from Stonehaven, a master planned community, currently being developed that includes 1,392 units, retail spaces, and a park.

The subject offering consists of a single tenant, triple net leased Ace Hardware in Glendale, AZ. The building was recently built in 2010 with 100 surface parking spaces available. The property is situated on 1.95 acres of land., zoned C-1, Phoenix. Both the tenant and landlord contributed to recent capital expenditures. The tenant is paying well below market rent and the property is being offered with a rent guarantee at the close of escrow to provide a stronger year one return for a prospective buyer. Additionally, the property has an existing cell tower lease, that will convey with the sale, which is an additional $12,000 in annual income.