19385 Indian School Rd Litchfield Park, AZ 85340-9535
- Retail space
- 9,588 SF
- 0.99 lot acres
Current Use by Public Records
- Dollar Tree / Grocery Store / Kitchen Supply Store
Property Details for 19385 Indian School Rd
- Year built
- 2022
- Lot size
- 0.99 lot acres
- Property size
- 9,588 SF
- Property type
- Retail space
- APN
- 502-63-942
- APU
- 50263942
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,600 square foot Dollar Tree storefront in Litchfield Park, Arizona. The property boasts a strong corporate guarantee, a 10-year lease (commencing February 9, 2023, and expiring February 8, 2033) with three 5-year options, and a 10% rent increase at the start of each option period. Located at 19385 W Indian School Rd, 85340, on a 0.99-acre lot with 42 parking spaces, this property benefits from a high-traffic location near the intersection of W Indian School Road and N Jackrabbit Trail, within the Jackrabbit Ranch Marketplace (75,000 sq ft) and across from Village Grove at Verrado (170,000 sq ft), a shopping center anchored by Fry's Electronics, AutoZone, and Ace Hardware. The property's strong location is further enhanced by the proximity to other national retailers, including Costco, Dollar General, and CVS. The 5-mile trade area has over 96,900 residents and 5,300 employees, with average household incomes within 3 miles exceeding $154,042. The property features a Net Net Net (NNN) lease, minimizing landlord responsibilities, and a current Net Operating Income (NOI) of $120,000, representing a 5.61% cap rate. Built in 2023, this property offers a secure, low-management investment with significant upside potential due to the built-in rent escalations. The asking price is $2,140,000 ($222.92/sq ft). The property's APN is 502-63-942. 100% occupancy is currently maintained.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,020,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,110,000
- 6.5%
- $2,255,000
- 7%
- $1,920,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,215,000
- Geo Method
- $2,270,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,510,000
- Retail
- $2,155,000
- Mixed-Use
- $1,945,000
- Hospitality
- $1,865,000
- Educational
- $1,940,000
- Residential Income
- $2,250,000
- Energy
- $1,905,000
- Income-Based Land
- $2,535,000
- Food Service
- $2,035,000
Location Insight
- Map
- Local Demand
- City
- Litchfield Park
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.477
- Latitude
- 33.4923
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
