16749 Shea Blvd Fountain Hills, AZ 85268-6602

Property Details for 16749 Shea Blvd

Year built

2003

Construction

CONCRETE

Lot size

2.20 lot acres

Property size

14,314 SF

Zone code

C-2

Property type

Drug stores

APN

176-09-485

APU

17609485

Description

This exceptional investment opportunity presents a 14,490-square-foot, single-story storefront formerly occupied by Walgreens, situated on a 2.2-acre lot in Fountain Hills, Arizona. The property boasts an absolute triple-net (NNN) lease with 3.8 years remaining, guaranteeing zero landlord responsibilities. The strong financial performance is reflected in an 11.11% cap rate and a substantial NOI of $333,270. Built in 2003, this property benefits from a prime location on Shea Boulevard, a major thoroughfare connecting Fountain Hills and Scottsdale. The surrounding area demonstrates robust economic indicators, including a 5-mile household income exceeding $154,100 and approximately $714.9 million in consumer spending within a 5-mile radius. The C-2 zoning allows for flexible future use. Furthermore, the property's adjacency to significant multifamily developments, including the approved Village at Four Peaks (approximately 316 units) and the completed Park Place at Fountain Hills (approximately 230 units), promises continued growth and increased value. A single-lane drive-thru on the west side of the building adds further convenience and potential. The asking price is $3,000,000. This is a rare opportunity to acquire a passively managed, high-return investment with significant upside potential.

Location Insight

City

Fountain Hills

County

Maricopa

State

Arizona

Longitude

-111.721

Latitude

33.5758

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments