Leased Restaurant NNN
For Sale
Contact for pricing
505 W University Dr, Tempe, AZ 85281
Investment restaurant property with an active NNN lease, zero landlord responsibilities, and 18 years remaining on the term.
Property Size2,342 SF
Lot Size0.26 Acres
Days on Market122
Property Features for 505 W University Dr
General Information
Standard status
Active
Size
2,342 SF
Lot size
0.26 Acres
Property subtype
Retail
Listing Agency:
Johnson Group Commercial
(775) 232-8551
Listed By:
RYAN JOHNSON · License #NV BS1707
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 22 at 6:19PM
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 Johnson Group Commercial
Investment Insights
Based on property information with market context.
This investment retail restaurant building is occupied by Gadzooks. The property includes a 2,342-square-foot restaurant on 0.26 acres and is structured as a 20-year NNN lease with 18 years remaining. The lease includes zero landlord responsibilities, and the lease is supported by a lease guarantee from The Pool Real Estate, LLC.
The rent schedule provided in the offering reflects scheduled increases over the lease term, with Year 1–5 at $11,650 per month, Years 6–10 at $12,815 per month, Years 11–15 at $14,096.50 per month, and Years 16–20 at $15,506.15 per month. The property is adjacent to a new 40,000 SF Whole Foods 365 mixed-use development and is described as being in downtown Tempe near a large daytime employment base, including State Farm’s Southwest Regional Headquarters employing over 8,000 people, and minutes from ASU’s main campus.
The rent schedule provided in the offering reflects scheduled increases over the lease term, with Year 1–5 at $11,650 per month, Years 6–10 at $12,815 per month, Years 11–15 at $14,096.50 per month, and Years 16–20 at $15,506.15 per month. The property is adjacent to a new 40,000 SF Whole Foods 365 mixed-use development and is described as being in downtown Tempe near a large daytime employment base, including State Farm’s Southwest Regional Headquarters employing over 8,000 people, and minutes from ASU’s main campus.
Key Highlights
- 2,342 SF restaurant building on a 0.26‑acre lot in downtown Tempe, AZ, leased to Gadzooks
- 20‑year NNN lease with 18 years remaining; lease guarantee from The Pool Real Estate, LLC
- “Zero landlord responsibilities” under the NNN lease structure
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,045
Businesses Nearby
220k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 16%
Apparel 8%
Leisure 6%
Chick-fil-A
Dining
33,031 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
28,362 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
18,614 visits/mo
0.4 miles
Jack in the Box
Dining
13,708 visits/mo
0.4 miles
AMC Centerpoint 11
Leisure
13,061 visits/mo
0.3 miles
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Investment restaurant property with an active NNN lease, zero landlord responsibilities, and 18 years remaining on the term.
Where is this nnn property located?
The property is located at 505 W University Dr Tempe, AZ.
What are key features of this property?
This property features: 2,342 SF restaurant building on a 0.26‑acre lot in downtown Tempe, AZ, leased to Gadzooks; 20‑year NNN lease with 18 years remaining; lease guarantee from The Pool Real Estate, LLC; “Zero landlord responsibilities” under the NNN lease structure
