Auto Repair NNN Investment
For Sale
Contact for pricing
760 W Guadalupe Rd, Gilbert, AZ 85233
NNN leased Joe’s Auto in Phoenix, passive income opportunity.
Property Size2,533 SF
Lot Size0.42 Acres
Price / SF$384.92
Days on Market804
Property Features for 760 W Guadalupe Rd
General Information
Standard status
Active
Size
2,533 SF
Lot size
0.42 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$46,706
Building Details
Tenancy
Single
Listing Agency:
Colliers - Los Angeles - Orange County, California
Listed By:
Eric Carlton · License #CA 01809955
(949) 724-5561
Source:
Crexi
Added: Jun 24, 2024
Changed: Aug 16
Last Checked: Sep 4 at 9:29PM
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 Colliers - Los Angeles - Orange County, California
Investment Insights
Based on property information with market context.
This investment opportunity features a single tenant, absolute NNN leased Joe’s Auto, located in Phoenix, AZ. Joe’s Auto, a leading auto repair company with 9 locations across the Phoenix area, has been operating for over 30 years. The absolute triple net lease has over 6.5 years remaining in the primary term, with two 5-year option periods and zero landlord responsibilities. Annual rent increases in the primary term and FMV rent increases in the option periods provide a hedge against inflation. The property includes a 2,533 SF building on a 0.42-acre parcel, strategically located on the hard corner signalized intersection of W Guadalupe Road and N Cooper Road, which sees over 48,000 VPD. The location benefits from excellent ingress and egress. Nearby retailers include Walmart Supercenter, Smart & Final Extra!, Kohl’s, ULTA, HomeGoods, Michaels, Walgreens, Chase, Bank of America, In-N-Out Burger, Chick-fil-A, Chipotle, Whataburger and Raising Cane’s.
Key Highlights
- Absolute NNN lease with over 6.5 years remaining, offering passive income.
- Located on a high‑traffic hard corner signalized intersection (48,000 VPD) with excellent access.
- Established tenant, Joe's Auto, a leading auto repair company with 9 locations.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,948
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$558,960
$559.0K
Cap Rate 7%
$399,257
$399.3K
Cap Rate 9%
$310,533
$310.5K
Market Conditions
NOI Build-Up for 2,533 SF
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.
Gross rent
$43.2K $17.04/SF
− Vacancy
−$3.2K −$1.28/SF
EGI
$39.9K $15.76/SF
− OpEx
−$12.0K −$4.73/SF
NOI
$27.9K $11.03/SF
Area
Gilbert, AZ
Vacancy
7.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$558,960
Cap Rate 7%
$399,257
Cap Rate 9%
$310,533
Alternative Uses
Best Use
Retail
$399.3K
$349.4K – $465.8K
NOI $27,948 @ 7.0% cap · market cap 2.87%
Second Best
Industrial
$261.8K
$229.1K – $305.5K
NOI $18,327 @ 7.0% cap · market cap 1.88%
Theoretical Best
Office A
$665.0K
$581.9K – $775.9K
NOI $46,553 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
60k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 17%
QuikTrip
Shops & Services
31,669 visits/mo
0.5 miles
Circle K
Shops & Services
12,701 visits/mo
0.5 miles
Wendy's
Dining
9,930 visits/mo
0.4 miles
Chevron
Shops & Services
5,383 visits/mo
0.4 miles
Demographics for 85233, AZ
39,006
Population
15,080
Households
2.6
Avg Household Size
37
Median Age
43%
College-Educated
95%
High-School Grad
9.6 sq mi
ZIP Area
4,063
Density / Sq Mi
$105,154
Median Household Income
$55,132
Median Earnings
$1,895
Median Rent
$468,600
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?
Auto shop - NNN leased Joe’s Auto in Phoenix, passive income opportunity.
Where is this auto shop located?
The property is located at 760 W Guadalupe Rd Gilbert, AZ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Absolute NNN lease with over 6.5 years remaining, offering passive income.; Located on a **high‑traffic hard corner signalized intersection (48,000 VPD)** with excellent access.; Established tenant, **Joe's Auto**, a leading auto repair company with 9 locations.
