810 Union Hills Dr Phoenix, AZ 85024
- Retail properties
- 870 SF
- 0.50 lot acres
Current Use by Public Records
- Retail properties
Property Details for 810 Union Hills Dr
- Year built
- 2024
- Lot size
- 0.50 lot acres
- Property size
- 870 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 870-square-foot Starbucks located in Phoenix, Arizona. The property boasts a 10-year absolute NNN lease with Starbucks Corporation, a highly rated investment-grade tenant (S&P BBB+ Credit Rating | Moody’s Baa1 Rating), commencing August 30, 2034. The lease includes four 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The building, constructed in 2024, is a single-story, drive-thru/walk-up design with a 21-car stack, strategically positioned on a 0.497-acre lot in a high-traffic area. The property benefits from its location near Loop 101 (152,709 cars per day) and on E Union Hills Dr (54,339 cars per day), adjacent to a Goodwill anchored retail center and across from a Basha's Grocery store. The surrounding area includes numerous national retailers and is characterized by strong demographics: a 5-mile population of 286,638 and a 1-mile average household income of $114,176. The property's Net Operating Income (NOI) is $154,000, resulting in a 5.35% cap rate. The asking price is $2,879,000. This is a fee simple ownership of both the building and land, offering a secure and lucrative investment opportunity. The property is zoned C.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.065
- Latitude
- 33.6547
