NNN Retail Property with
For Sale
$13,853,000
14020 W Bell Road, Surprise, AZ 85374
NN leased Kohl’s investment property with remaining initial term and multiple extension options, featuring a roof replaced in 2022.
Property Size88,408 SF
Price / SF$156.69
Days on Market8
Property Features for 14020 W Bell Road
General Information
Standard status
Active
Size
88,408 SF
Property subtype
Retail
Building Details
Year Built
2003
Tenancy
Single
Listing Agency:
SRS Industrial - Newport Beach
(714) 404-8849
Listed By:
Matthew Mousavi · License #CA 01732226
(714) 404-8849
Source:
Srsre
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 30 at 2:24AM
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 Industrial - Newport Beach
Investment Insights
Based on property information with market context.
SRS Real Estate Partners-West, LLC is pleased to offer the fee simple interest (land and building ownership) in an NN leased Kohl’s retail investment property at 14020 W. Bell Road in Surprise, Arizona.
The tenant has more than six years remaining in the initial term, with eight (5-year) options to extend. The lease includes 7.5% rental increases at the beginning of each option period, and the structure is NN with limited landlord responsibilities.
The offering notes a current rent of $9.33 per square foot. The property’s roof was replaced in 2022 and has approximately six years remaining on the roof warranty.
The tenant has more than six years remaining in the initial term, with eight (5-year) options to extend. The lease includes 7.5% rental increases at the beginning of each option period, and the structure is NN with limited landlord responsibilities.
The offering notes a current rent of $9.33 per square foot. The property’s roof was replaced in 2022 and has approximately six years remaining on the roof warranty.
Key Highlights
- NN leased Kohl’s investment property with fee simple land & building ownership
- Year built 2003
- Tenant has over 6 years remaining on the initial term with 8 (5‑year) extension options
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.86M | $21.00 |
| − Vacancy | −$157.8k | −$1.79 |
| EGI | $1.70M | $19.22 |
| − OpEx | −$509.6k | −$5.76 |
| NOI | $1.19M | $13.45 |
88,408 SF · lease $21.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$16.99M
$14.86M – $19.82M
NOI $1,189,132 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$27.26M
$23.86M – $31.81M
NOI $1,908,467 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
620k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Superstores 22%
Shops & Services 14%
Apparel 8%
Walmart
Superstores
134,858 visits/mo
0.4 miles
In-N-Out Burger
Dining
53,733 visits/mo
0.4 miles
Raising Cane's Chicken Fingers
Dining
48,610 visits/mo
0.4 miles
Kohl's
Apparel
40,744 visits/mo
0.0 miles
Starbucks
Dining
23,955 visits/mo
0.4 miles
Demographics for 85374, AZ
41,182
Population
21,982
Households
1.9
Avg Household Size
61
Median Age
30%
College-Educated
95%
High-School Grad
12.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$78,690
Median Household Income
$45,427
Median Earnings
$1,897
Median Rent
$355,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - NN leased Kohl’s investment property with remaining initial term and multiple extension options, featuring a roof replaced in 2022.
Where is this retail space located?
The property is located at 14020 W Bell Road Surprise, AZ.
What is the asking price?
The asking price for this property is $13,853,000.
What are key features of this property?
This property features: NN leased Kohl’s investment property with fee simple land & building ownership; Year built 2003; Tenant has over 6 years remaining on the initial term with 8 (5‑year) extension options
