1975 Williams Field Rd Gilbert, AZ 85295

Property Details for 1975 Williams Field Rd

Year built

2022

Lot size

1.62 lot acres

Property size

9,987 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 9,987 square foot, single-tenant retail property located at 1975 E Williams Field Rd, Gilbert, AZ 85295. The property boasts a fee-simple ownership structure encompassing the building and a 1.615-acre lot, zoned C. Currently occupied by "The Backyard," a restaurant with a proven track record, the property features a long-term absolute NNN lease with 10 years remaining until March 31, 2034. The lease includes attractive 10% rent escalations every five years and two five-year renewal options, ensuring consistent income growth. The tenant recently completed a substantial $1 million+ remodel, demonstrating a strong commitment to the location. This prime pad site benefits from exceptional visibility and high traffic counts exceeding 58,500 cars per day, situated on a signalized intersection directly across from the 1,196,000 square foot Santan Village lifestyle center. The property's strategic location within a thriving retail corridor, coupled with the affluent demographics (average household income within 1 mile: $168,121; 5-mile population: 295,883), creates a compelling investment case. The property's strong NOI of $420,750 yields a 6.60% cap rate, making it an attractive addition to any portfolio. Built in 2022, this one-story building offers a stable and lucrative investment opportunity with significant upside potential. The tenant operates six distinct brands with 13 locations in Arizona and Texas, with plans for four additional restaurants opening soon.

Location Insight

City

Gilbert

County

Maricopa

State

Arizona

Longitude

-111.748

Latitude

33.3062