1636 Stapley Dr Mesa, AZ 85204-6610

Property Details for 1636 Stapley Dr

Year built

2002

Construction

CONCRETE

Lot size

1.67 lot acres

Property size

5,920 SF

Zone code

I-1

Property type

Turn key restaurants

APN

139-11-091

APU

13911091

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,320 square foot Red Robin restaurant in Mesa, Arizona. The property boasts a 15-year absolute NNN lease (commencing July 1, 2023, and expiring June 30, 2038), providing 13.6 years of remaining lease term with four 5-year renewal options. The lease includes a 10% rent increase every five years, ensuring consistent NOI growth and inflation protection. The property sits on a 1.67-acre lot with 98 parking spaces and benefits from a corporate guarantee. Located in a high-traffic area with excellent visibility, the restaurant is directly across from the Mesa Grand Power Center, a major retail hub with over 560,000 square feet of retail space and 4.1 million annual visits. The property also enjoys proximity to a large office center and major roadways, including US Highway 60, ensuring high consumer traffic. The strong demographics of the 5-mile trade area, with a population exceeding 419,800 and an average household income of $102,930, further enhance the investment potential. The property's NOI is $245,000, resulting in a 6.25% cap rate. The asking price is $3,920,000. Built in 2002, the property is zoned LI (Light Industrial) and features a well-established, nationally recognized tenant. This is a truly exceptional, low-management investment opportunity with significant long-term growth potential.

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Longitude

-111.807

Latitude

33.3837

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments