4676 Grant Rd Tucson, AZ 85712-2624
- Turn key restaurants
- 0.12 lot acres
Current Use by Public Records
- Jeremiah's Italian Ice / Ice Cream Shop
- Tropical Smoothie Cafe / Sandwich Shop / Restaurant
Property Details for 4676 Grant Rd
- Year built
- 1973
- Lot size
- 0.12 lot acres
- Property type
- Turn key restaurants
- APN
- 122-01-006B
- APU
- 12201006B
Description
This exceptional investment opportunity presents a 2,232 square foot, freestanding retail building located at 4676 E Grant Rd, Tucson, AZ 85712. The property boasts a prominent, high-traffic corner location on a busy intersection, with approximately 70,000 cars passing daily. The building is situated on a 19,378 square foot lot and features a dual-branded drive-thru concept, housing a Tropical Smoothie Cafe and Jeremiah's Italian Ice. A brand new ten-year lease is in place, with two five-year options to extend, offering significant long-term stability. The lease is an absolute NNN lease, meaning the tenant is responsible for all property expenses including taxes and insurance, minimizing landlord responsibilities. The property benefits from a strong NOI of $194,331, resulting in a 6.50% cap rate. The building was constructed in 1993 and has undergone recent renovations. The property is zoned C-1 by the City of Tucson and enjoys excellent visibility due to its location and a large digital monument sign. Surrounding the property are numerous major retailers, including Fry's Food and Drug, Starbucks, Chipotle, and more, further enhancing its desirability and potential for continued success. This investment offers a compelling combination of strong tenant occupancy, a prime location, and a favorable lease structure, making it an attractive addition to any portfolio. The property's APN is 122-01-006B
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,865,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,740,000
- 6.5%
- $1,790,000
- 7%
- $1,570,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,795,000
- Geo Method
- $1,945,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,835,000
- Retail
- $1,525,000
- Mixed-Use
- $1,905,000
- Hospitality
- $1,910,000
- Educational
- $1,825,000
- Residential Income
- $1,795,000
- Energy
- $1,535,000
- Income-Based Land
- $1,885,000
- Food Service
- $1,505,000
Location Insight
- Map
- Local Demand
- City
- Tucson
- County
- Pima
- State
- Arizona
- Longitude
- -110.893
- Latitude
- 32.2503
- CBSA code
- 46060
- CBSA name
- TUCSON, AZ METROPOLITAN STATISTICAL AREA
