2635 Broadway Rd Mesa, AZ 85204-1529
- Commercial real estate
- 0.29 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2635 Broadway Rd
- Year built
- 2005
- Lot size
- 0.29 lot acres
- Zone code
- LC
- Property type
- Commercial real estate
- APN
- 140-41-941
- APU
- 14041941
Description
This exceptional investment opportunity presents a brand-new, 1,418-square-foot Take 5 Oil Change located at 2635 E Broadway Rd, Mesa, AZ 85204. Situated on a 0.29-acre lot, this property boasts a 20-year absolute triple-net (NNN) lease with a corporate guarantee from Driven Funding Holdco, LLC, a company operating 3,500+ units. The current annual net operating income (NOI) is $110,000, representing a 6.00% capitalization rate. The lease commenced upon closing and includes four, five-year renewal options with annual rent increases of 1.50% starting in year two. Built in 2024, this property offers a secure, long-term investment with a strong tenant and attractive financial performance. The asking price is $1,833,333, translating to $1,292.90 per square foot. This is a 100% occupied, single-tenant property offering significant potential for passive income and long-term appreciation. The property's prime location in Mesa, Arizona, ensures high visibility and accessibility for customers. This is a rare opportunity to acquire a high-quality, net-leased asset with a strong tenant and favorable lease terms. The investment highlights include a long-term lease, corporate guarantee, and attractive annual rent increases. This is an ideal addition to any diversified investment portfolio.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,760,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,760,000
- 6.5%
- $1,755,000
- 7%
- $1,885,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,665,000
- Geo Method
- $1,760,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,685,000
- Retail
- $1,460,000
- Mixed-Use
- $1,390,000
- Hospitality
- $1,835,000
- Educational
- $1,695,000
- Residential Income
- $1,725,000
- Energy
- $1,620,000
- Income-Based Land
- $1,795,000
- Food Service
- $1,570,000
Location Insight
- Map
- Local Demand
- City
- Mesa
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.774
- Latitude
- 33.4078
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
