12831 Cave Crk Rd Phoenix, AZ 85022-5834

Property Details for 12831 Cave Crk Rd

Year built

1973

Construction

CONCRETE

Lot size

0.33 lot acres

Property size

1,155 SF

Zone code

C-C

Property type

Drive through restaurants

APN

166-12-029

APU

16612029

Description

This exceptional investment opportunity presents a 1,200-square-foot drive-thru restaurant in Phoenix, Arizona. Located on heavily trafficked Cave Creek Road (over 30,000 cars daily), this Class B property boasts a prime location near major national tenants including Home Depot, EOS Fitness, O'Reilly Auto Parts, and Sherwin Williams. The single-tenant building, constructed in 1973, sits on a 14,262-square-foot lot (APN 166-12-029) and is zoned C-C by the City of Phoenix. Currently operating under a NNN lease with a 7.9-year remaining term (commencing December 1, 2017, and expiring October 30, 2032), the lease includes 2% annual rent increases. The property offers a current NOI of $74,400 and a pro-forma NOI of $110,000, resulting in a current cap rate of 5.51% and a pro-forma cap rate of 8.15%. The asking price is $1,350,000 ($1,125 per square foot). The existing lease provides a six-month termination clause, offering flexibility for redevelopment or owner-user occupancy. This property is a fee-simple ownership and presents a compelling opportunity for both investors and owner-users seeking a high-traffic location within a densely populated and established trade area (over 320,000 people and 101,000 employees within a 5-mile radius). The property is 100% occupied.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.036

Latitude

33.6035

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments