1139 Broadway Rd Tempe, AZ 85282-1225

Property Details for 1139 Broadway Rd

Year built

1994

Construction

CONCRETE

Lot size

1.33 lot acres

Property size

3,181 SF

Zone code

I-1

Property type

Drive through restaurants

APN

123-35-001C

APU

12335001C

Description

This exceptional investment opportunity presents a 15-year absolute NNN ground lease for a new Chick-fil-A restaurant located at 1139 W Broadway Rd, Tempe, AZ 85282. The property, built in 2024, encompasses 4,987 square feet on a 1.33-acre lot and boasts a 100% occupancy rate with a lease commencement date of October 31, 2024, and expiration on October 31, 2039. The lease includes eight five-year renewal options and features a 10% rent increase every five years. The property offers a strong net operating income (NOI) of $150,000, resulting in a 3.75% cap rate and a price per square foot of $802.09. The asking price is $4,000,000. This prime location is less than 1.5 miles from Arizona State University, situated on a major arterial road with high visibility and significant daily vehicle traffic. The tenant, Chick-fil-A, Inc., provides a corporate guarantee, ensuring a secure and stable investment. This is a new Chick-fil-A format with multiple curbside delivery, takeout, and mobile-order options, a first in Arizona. The property benefits from a densely populated trade area with approximately 313,850 residents within a 5-mile radius and proximity to Tempe Diablo Stadium. The property's location and the strength of the Chick-fil-A brand combine to create a compelling investment opportunity with significant long-term growth potential. The property's APN is 123-35-001C.

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Longitude

-111.957

Latitude

33.4067

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments