Absolute NNN Restaurant Pad
5679 W Northern Ave Glendale, AZ 85301
5679 W Northern Ave, Glendale, AZ, 85301
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For Sale
Contact for pricing
Absolute NNN lease with 9+ years remaining and 1.75% annual rent increases on a 2.46-acre pad site.
Property Size12,103 SF
Lot Size2.46 Acres
Price / SF$446.17
Days on Market182
Property Features for 5679 W Northern Ave
General Information
- Standard status
- Active
- Size
- 12,103 SF
- Lot size
- 2.46 Acres
- Property subtype
- RETAIL
Listing agency
Commercial Investment Advisors (CIA) - Corporate
(602) 770-7145
Listed by
Jessica Gibson
(602) 770-7145
Source
Moodyscre
Added: Jan 20 Updated: Jul 21 at 3:29AM Checked: Jul 21 at 3:29AM
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 Commercial Investment Advisors (CIA) - Corporate
Investment Insights
Based on property information with market context.
This is an absolute NNN restaurant pad site offered for sale with more than 9 years remaining on the initial 20-year absolute NNN lease. The lease includes annual rental increases of 1.75%. The property is currently operating under the tenant, AZ Z Corral, LLC, which owns and operates three Golden Corral locations, and the business has been operating since 2015.
The pad is situated on a large 2.46-acre lot with exceptional visibility and access along Northern Avenue, with traffic counts of 29,450 CPD. It serves as a pad site to a Lowe’s Home Improvement and Walmart-anchored shopping center.
The tenant is leasing 1.20 acres of the total parcel size, with the balance retained as part of the overall site footprint.
The pad is situated on a large 2.46-acre lot with exceptional visibility and access along Northern Avenue, with traffic counts of 29,450 CPD. It serves as a pad site to a Lowe’s Home Improvement and Walmart-anchored shopping center.
The tenant is leasing 1.20 acres of the total parcel size, with the balance retained as part of the overall site footprint.
Key Highlights
- Absolute NNN lease with 9+ years remaining on the initial 20‑year term
- 1.75% annual rental increases built into the lease
- Tenant AZ Z Corral, LLC owns and operates 3 Golden Corral locations
Local Financial Insights For Specialty 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 | $232.4k | $19.20 |
| − Vacancy | −$16.3k | −$1.34 |
| EGI | $216.1k | $17.86 |
| − OpEx | −$54.0k | −$4.46 |
| NOI | $162.1k | $13.39 |
12,103 SF · lease $19.20/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.32M
$2.03M – $2.70M
NOI $162,083 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.33M – $4.44M
NOI $266,119 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Glendale Tappen Repair
Home Appliance Store
Golden Corral Buffet ...
Restaurant
Near-By Storage Units
Storage Facility
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Absolute NNN lease with 9+ years remaining and 1.75% annual rent increases on a 2.46-acre pad site.
Where is this conventional restaurant located?
The property is located at 5679 W Northern Ave Glendale, AZ.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Absolute NNN lease with 9+ years remaining on the initial 20‑year term; 1.75% annual rental increases built into the lease; Tenant AZ Z Corral, LLC owns and operates 3 Golden Corral locations
