1251 Riordan Rnch St Flagstaff, AZ 86001
- Banks
- 779 SF
- 0.65 lot acres
Feb 01, 2025
Current Use by Public Records
- Wells Fargo ATM / Atm
- Wells Fargo Drive-Up Bank / Atm / Bank
Property Details for 1251 Riordan Rnch St
- Year built
- 2005
- Construction
- CONCRETE
- Lot size
- 0.65 lot acres
- Property size
- 779 SF
- Property type
- Banks
- APN
- 103-04-020E
- APU
- 10304020E
Description
This exceptional investment opportunity presents a brand-new, single-tenant, absolute triple-net (NNN) lease with Angie's Lobster & Prime Grill, a fast-food restaurant in Flagstaff, Arizona. The 1,340 square foot building, constructed in 2005 and renovated in 2024, sits on a 0.65-acre lot at 1251 S Riordan Ranch St, 86001. The property boasts a strong 20-year lease commencing September 22, 2024, and expiring October 31, 2044, with a 5.5% cap rate and a current NOI of $182,000. Rent increases by 10% every five years, providing significant long-term growth potential. The lease includes three and five-year option periods. The tenant, Angie's Lobster & Prime Grill, is backed by a corporate guarantee. This prime location offers high visibility, situated near Northern Arizona University and major retailers, benefiting from Flagstaff's robust tourism and local population. The property's strategic placement along a major thoroughfare with approximately 40,174 vehicles per day ensures consistent customer traffic. This is a rare opportunity to acquire a stable, high-performing investment with substantial upside. The property's APN is 103-04-020E.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Flagstaff
- County
- Coconino
- State
- Arizona
- Longitude
- -111.661
- Latitude
- 35.1893
- CBSA code
- 22380
- CBSA name
- FLAGSTAFF, AZ METROPOLITAN STATISTICAL AREA
