2440 Thomas Rd, Phoenix, AZ 85015-5938
- Drive through restaurants
- 2,413 SF
- 0.53 lot acres
Current Use by Public Records
- Jack in the Box / Restaurant / Take-out & Catering
Property Details for 2440 Thomas Rd
- Year built
- 1990
- Construction
- STEEL FRAME
- Lot size
- 0.53 lot acres
- Zone code
- C-G
- Property type
- Drive through restaurants
- APN
- 110-36-010E
- APU
- 11036010E
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 26, 2025 | $2,830,000 | Jt Itc Investments Limited Partners | Tierra Partners III L L C | Special Warranty Deed | — |
| Jun 18, 2024 | — | Tierra Partners III LLC | — | Deed · related | $1M · First Fidelity Bank |
| Jan 31, 2024 | $1,725,000 | Tierra Partners III LLC | Robert Honda | Special Warranty Deed | $1M · Tierra Financial Services LLC |
| Mar 23, 2016 | — | The Akiko & Masaji Honda Trust | Akiko Honda | Intrafamily Transfer · related | — |
| Oct 23, 2007 | — | Akiko & Masaji Trust | Honda Family Trust | Warranty Deed · related | — |
| May 2, 1994 | $1,400,000 | Kompton Inn L L C | Phoenix Quality | Grant Deed | $1M · Seller Carry Back |
| Dec 31, 1990 | — | Phoenix Quality | Summit Hotel Cor | Grant Deed · related | — |
| Feb 3, 1989 | — | First Hotel Inv | Unknown | Grant Deed · related | — |
Description
This offering presents a compelling investment opportunity: a Jack in the Box restaurant in Phoenix, Arizona, operating under an absolute NNN lease with 16.8 years remaining until expiration. The lease, originally commencing September 9, 1993, and recently extended, features a 48-year term and includes 10% rent increases every five years. The property boasts a 2,413 square foot building situated on a 0.91-acre lot at a high-traffic intersection of Arizona Veterans Highway 17, Black Canyon Highway 60, and Thomas Road, experiencing over 267,200 vehicles per day. This prime location benefits from strong demographics, including over 434,000 residents and 17,680 businesses within a five-mile radius, and an average household income exceeding $79,700 within the same area. The Jack in the Box, a publicly traded company (NASDAQ: JACK), is a top performer, ranking in the top 20% of stores statewide and the top 28% nationally. The property's Net Operating Income (NOI) is $154,832, resulting in a 4.60% cap rate. The asking price is $3,365,000. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime location.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,310,000
Market price range: $626k - $2.00M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,290,000 Current use
- COMMERCIAL (GENERAL)
- $1,680,000 Change: +30% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.112
- Latitude
- 33.4809
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
