655 Thunderbird Rd Phoenix, AZ 85022

Property Details for 655 Thunderbird Rd

Year built

1983

Construction

CONCRETE

Lot size

0.63 lot acres

Property size

5,225 SF

Zone code

C-R

Property type

Banks

APN

159-02-675

APU

15902675

Description

This exceptional investment opportunity presents a 5,150 square foot Wells Fargo Bank branch located at 655 E Thunderbird Rd, Phoenix, AZ 85022. The property sits on a 0.62-acre lot and boasts a strong financial performance, with a current asking price of $3,858,464 and a 6.25% cap rate, generating a net operating income (NOI) of $241,154. The property features a dual drive-thru and drive-thru ATM, enhancing convenience and accessibility for customers. The absolute NNN lease, with a corporate guaranty from Wells Fargo Bank, minimizes landlord responsibilities. The lease commenced on June 4, 2007, with a 20-year term, leaving approximately 2.5 years remaining until expiration on May 31, 2027. Built in 1983, this single-tenant property benefits from a highly visible location at a high-traffic intersection, boasting over 68,000 vehicles per day on 7th Street & Thunderbird Road. The surrounding area is densely populated, with over 381,000 residents within a 5-mile radius and average household incomes exceeding $158,000 within a 1-mile radius. Numerous national retailers, including Safeway, Walgreens, McDonald's, Starbucks, and Dunkin', are located nearby. The property also includes a monument sign generating additional income. The property's APN is 159-02-675. Wells Fargo, an investment-grade tenant with an A+ rating from Standard & Poor's, has occupied this location for over 17 years. This is a rare opportunity to acquire a stable, high-performing asset with a blue-chip tenant in a prime location.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.067

Latitude

33.6072

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments