19022 R H Johnson Blvd Sun City West, AZ 85375-4401
- Banks
- 12,850 SF
- 1.29 lot acres
Dec 13, 2024
Current Use by Public Records
- Banks
Property Details for 19022 R H Johnson Blvd
- Year built
- 1981
- Construction
- STEEL FRAME
- Lot size
- 1.29 lot acres
- Property size
- 12,850 SF
- Zone code
- C-C
- Property type
- Banks
- APN
- 232-12-002
- APU
- 23212002
Description
This exceptional investment opportunity presents a 12,693-square-foot Bank of America branch located at 19022 N R H Johnson Blvd, Sun City, Arizona, 85375. The property sits on approximately one acre of land and is subject to a triple-net (NNN) lease with a corporate guarantee from Bank of America. The lease commenced October 1, 2004, with a 15-year initial term, and currently has 5.2 years remaining. The current annual net operating income (NOI) is $98,255, representing a 5.50% cap rate and a price per square foot of $140.74. The lease includes scheduled rent increases of 5% every five years. Built in 1981, this single-tenant property boasts 100% occupancy and offers significant long-term value due to the strong tenant and favorable lease terms. The property's location in Sun City, Arizona, provides excellent visibility and accessibility. This is a rare opportunity to acquire a stable, high-quality net lease investment with a blue-chip tenant and substantial remaining lease term. The lease has renewal options extending through 2014, demonstrating Bank of America's commitment to the location. This investment offers a compelling combination of strong cash flow, long-term stability, and significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,650,000
- ML approach
- $1,650,000
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Location Insight
- Map
- Local Demand
- City
- Sun City West
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.352
- Latitude
- 33.6573
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
