5022 Chandler Blvd Phoenix, AZ 85048-0800

Property Details for 5022 Chandler Blvd

Year built

1998

Construction

STEEL FRAME

Lot size

2.68 lot acres

Property size

9,288 SF

Zone code

I-P

Property type

Turn key restaurants

APN

301-84-173

APU

30184173

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, 9,662 square-foot Cracker Barrel restaurant in Phoenix, Arizona. Built in 1998, this Class A property boasts a rare 20-year absolute NNN lease with a corporate guarantee from Cracker Barrel, a publicly traded company (NASDAQ: CBRL). The lease commenced August 4, 2020, and expires July 31, 2040, with 15.7 years remaining. The lease includes 1% annual rent increases, providing consistent income growth. Situated on a 2.67-acre lot at 5022 E Chandler Blvd, this location benefits from high visibility and traffic counts exceeding 171,263 vehicles per day on Interstate 10 and 42,617 vehicles per day on Chandler Boulevard. The property's strategic location directly off Interstate 10 offers excellent accessibility. The lease structure includes six, 5-year renewal options, ensuring long-term stability. The asking price is $7,165,000, representing a cap rate of 4.25% and a price per square foot of $741.56. The property generates a net operating income (NOI) of $304,494. This investment offers a compelling combination of a strong tenant, a long-term lease, and a prime location in a rapidly growing market. The Phoenix metropolitan area, with a population exceeding 4.8 million, is one of the fastest-growing regions in the US, boasting a diverse economy and a robust healthcare sector. The surrounding Ahwatukee neighborhood is highly desirable, with a high average household income and a strong population base. This is a truly exceptional opportunity for a discerning investor seeking a stable, high-return investment in a premier location.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-111.975

Latitude

33.3062

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments