Current Use by Public Records
- Retail properties & Spaces
Property Details for 4520 Cactus Rd
- Year built
- 2024
- Lot size
- 0.77 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 2,877 square foot Hawaiian Bros restaurant located at 4520 E Cactus Rd, Phoenix, AZ 85032. The property boasts a new construction, 15.1-year absolute NNN ground lease with a commencement date of April 1, 2024, and an expiration date of April 30, 2039, leaving 14.4 years remaining. The lease includes 12.5% rent bumps every five years and three, five-year lease options. The tenant, a franchisee of the fast-growing Hawaiian Bros Island Grill, enjoys 100% occupancy, generating a strong net operating income (NOI) of $200,000 and a 5.25% cap rate. The asking price is $3,809,500, translating to $1,324.12 per square foot. Situated on a 0.77-acre lot within the thriving PV Phoenix development, anchored by Costco and Whole Foods Market, this location benefits from an average household income exceeding $128,000 within a 5-mile radius and an estimated average unit volume of $4 million for the tenant. The strong lease guarantor, Stine Enterprises, Inc., is an established franchise group with a significant presence in Arizona and California. This property offers a compelling combination of a secure, long-term lease, a proven tenant, and a prime location in a high-growth area.
Value Estimations
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AI approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.985
- Latitude
- 33.6008
