Property Details for 1928 Buckeye Rd

Lot size

1.00 lot acres

Property size

14,477 SF

Property type

Retail properties & Spaces

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a fee-simple ownership of a 14,477 square foot retail building in Phoenix, Arizona, situated on a one-acre lot (APN: 109-63-173B). The property boasts 100% occupancy with two nationally recognized tenants, O'Reilly Auto Parts and Rent-A-Center, operating under a Net Net + (NN+) lease structure. Both tenants are credit-rated, providing a stable and predictable income stream. The building, completely renovated in 2018, features a single story and is zoned C-3. The property enjoys a prime location at 1928 W Buckeye Rd, Phoenix, AZ 85009, benefiting from high traffic counts (nearly 37,000 vehicles daily) at a signalized intersection with Buckeye Road and 19th Avenue, and excellent freeway access via I-17 (115,000 vehicles daily). The strong demographics of the area, with over 339,000 residents and a daytime population exceeding 130,000 within a 5-mile radius, and an average household income of approximately $86,000, further enhance the property's value. The asking price is $3,500,000, representing a price per square foot of $241.76 and a 5.52% cap rate, with a current Net Operating Income (NOI) of $193,178. Rent bumps are included in the lease agreements. The property's proximity to other national retailers and automotive services strengthens its position within the market. This is a rare opportunity to acquire a well-located, high-performing retail investment property with significant upside potential.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.101

Latitude

33.4372