Freestanding NNN Industrial
1051 E Broadway Rd, Phoenix, AZ 85040
For Sale
Contact for pricing
Freestanding industrial asset structured with an absolute NNN lease and no landlord responsibilities.
Property Size11,580 SF
Price / SF$154.58
Days on Market57
Property Features for 1051 E Broadway Rd
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Buildings
Tenancy
Listing Agency:
SRS Real Estate Partners | Tampa
(813) 371-0980
Listed By:
Matthew mousavi · License CA #01732226
(714) 404-8849
Source:
Moodyscre
Added: Sep 18
Changed: Nov 9
Last Checked: Nov 12 at 6:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | Tampa
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Investment Insights
Based on property information with market context.
The property is a freestanding industrial building totaling 11,580 square feet, offered with fee simple ownership of both the land and improvements. Hawaii Jerk Shop occupies the facility under an absolute NNN lease structure, placing landlord responsibilities at zero.
A new 5-year lease is scheduled to begin at the close of escrow, with two additional 5-year extension options. The agreement includes 2% annual rent increases during the initial term and option periods. The tenant operates a jerky business with products distributed through more than 400 locations and online.
A new 5-year lease is scheduled to begin at the close of escrow, with two additional 5-year extension options. The agreement includes 2% annual rent increases during the initial term and option periods. The tenant operates a jerky business with products distributed through more than 400 locations and online.
Key Highlights
- 11,580‑square‑foot freestanding industrial building
- Fee simple ownership includes land and building
- Absolute NNN lease with zero landlord responsibilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,842
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,456,840
$1.5M
Cap Rate 7%
$1,040,600
$1.0M
Cap Rate 9%
$809,356
$809.4K
Market Conditions
NOI Build-Up for 11,580 SF
Gross rent
$118.1K $10.20/SF
− Vacancy
−$14.1K −$1.21/SF
EGI
$104.1K $8.99/SF
− OpEx
−$31.2K −$2.70/SF
NOI
$72.8K $6.29/SF
Area
Phoenix, AZ
Vacancy
11.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,456,840
Cap Rate 7%
$1,040,600
Cap Rate 9%
$809,356
Alternative Uses
Best Use
Industrial
$1.04M
$910.5K – $1.21M
NOI $72,842 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.51M
$3.07M – $4.09M
NOI $245,538 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 85040, AZ
33,993
Population
11,962
Households
2.8
Avg Household Size
30
Median Age
15%
College-Educated
69%
High-School Grad
10.1 sq mi
ZIP Area
3,366
Density / Sq Mi
$57,890
Median Household Income
$36,355
Median Earnings
$1,193
Median Rent
$294,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for NNN properties in Phoenix
Vacancy Rate% for Industrial in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding industrial asset structured with an absolute NNN lease and no landlord responsibilities.
Where is this nnn property located?
The property is located at 1051 E Broadway Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 11,580‑square‑foot freestanding industrial building; Fee simple ownership includes land and building; Absolute NNN lease with zero landlord responsibilities
