2440 Thomas Rd Phoenix, AZ 85015-5938

Property Details for 2440 Thomas Rd

Year built

1990

Construction

STEEL FRAME

Lot size

0.53 lot acres

Property size

2,413 SF

Zone code

C-G

Property type

Drive through restaurants

APN

110-36-010E

APU

11036010E

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.