10781 Frank Lloyd Wright Blvd, Scottsdale, AZ 85259

Property Details for 10781 Frank Lloyd Wright Blvd

Year built

2001

Lot size

1.71 lot acres

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 14,550-square-foot, single-tenant net-leased storefront located at 10781 N Frank Lloyd Wright Blvd, Scottsdale, AZ 85259. The property, a Class B building constructed in 2001 and completely renovated in 2020, sits on a 1.71-acre lot with C-3 Highway Commercial zoning. The building is 100% occupied by Nash Powersports, a leading powersports dealer, under a lease commencing February 24, 2020, and expiring February 24, 2030, with two five-year renewal options. The current lease features a 10% rent increase every five years, providing significant long-term growth potential. The property boasts 68 parking spaces and offers excellent visibility and access near the intersection of Frank Lloyd Wright Blvd and Shea Blvd. The current annual net operating income (NOI) is $282,200, representing a 6.00% capitalization rate. The asking price is $4,700,000, translating to a price per square foot of $323.02. This fee-simple ownership opportunity offers strong cash flow and significant upside potential in a prime Scottsdale location. Lease options include two five-year extensions with rent increases based on the greater of CPI or 15% of base rent. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment for discerning buyers.

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Longitude

-111.835

Latitude

33.584