12140 Dove Mtn Blvd Marana, AZ 85658-4208

Property Details for 12140 Dove Mtn Blvd

Year built

2006

Construction

FRAME

Lot size

0.72 lot acres

Property size

4,719 SF

Property type

Banks

APN

218-55-5680

APU

218555680

Description

This exceptional investment opportunity presents a 4,692 square foot Wells Fargo Bank located at 12140 N Dove Mountain Blvd, Marana, AZ 85658. The property is situated on a 0.71-acre lot and features a 25-year absolute triple-net (NNN) ground lease with a remaining term of approximately 6.9 years, expiring October 31, 2031. The lease commenced November 1, 2006, and includes 10% rent increases every five years, with the next increase scheduled for November 1, 2026. This will boost the current 5.75% cap rate to 6.05% at the asking price of $1,944,000 ($414.32/sq ft). The property boasts a strong NOI of $111,804 and 100% occupancy. The building was constructed in 2006 and benefits from a dense trade area, with over 56,658 residents within a 5-mile radius in the Tucson MSA. Marana is experiencing rapid growth, with projected household and population increases exceeding 7% by 2028. High traffic counts exceeding 27,600 vehicles daily are observed at the nearby intersection of West Tangerine Road and North Dove Mountain Boulevard. The lease also includes three, five-year renewal options, providing long-term stability and significant upside potential. This is a compelling investment opportunity in a high-growth area with a creditworthy tenant and attractive financial metrics.