6032 16th St, Phoenix, AZ 85042-4465
- Commercial land
- 0.60 lot acres
Current Use by Public Records
- Commercial land
Property Details for 6032 16th St
- Lot size
- 0.60 lot acres
- Zone code
- C-R
- Property type
- Commercial land
- APN
- 114-29-099
- APU
- 11429099
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 29, 2025 | $3,600,000 | Eagl Star LLC | Hh South Mountain LLC | Special Warranty Deed | $1.6M · First Savings Bank |
| May 7, 2024 | — | Hh South Mountain LLC | — | Deed · related | $1.7M · Service FCU |
| Oct 15, 2021 | $1,000,000 | Hh South Mountain LLC | Cheng 9010 LLC | Special Warranty Deed | — |
| Jun 26, 2013 | $1,050,000 | Cheng 90 Of 10 LLC | Regency Realty Group INC | Grant Deed | — |
| Jun 26, 2013 | — | Cheng 90/10 LLC | Regency Rlty Grp INC | Quit Claim Deed · related | — |
| Jun 22, 2000 | $1,899,340 | Regency Realty Group INC | Safeway FCU | Grant Deed | — |
Description
This exceptional investment opportunity presents a fee-simple owned, 2,400 square foot Starbucks located at 6032 S 16th St, Phoenix, AZ 85042. The property boasts a brand-new, 10-year net lease with a corporate guarantee from Starbucks (NASDAQ: SBUX), featuring a 10% rent increase every five years and four, five-year lease options. Built in 2024, this single-story building sits on a 0.6-acre lot and is part of a grocery-anchored center with a recently remodeled Safeway. The high-traffic location, with over 60,000 vehicles passing daily, offers excellent street-front visibility on a major thoroughfare. Benefiting from proximity to South Mountain Community College and South Mountain High School, and just a short drive from Downtown Phoenix and I-17, this property is situated in a densely populated area (225,000 within a 5-mile radius) within one of the fastest-growing counties in the US. The property's strong financials include a $3,636,147 asking price, a 5.30% cap rate, and a net operating income (NOI) of $192,716. This is a rare opportunity to acquire a low-management, high-return investment with a blue-chip tenant in a prime location. The property features a unique "farmhouse" design and is one of Starbucks' first double drive-thru locations in Arizona. Air rights are included, totaling 2,400 square feet.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,150,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.048
- Latitude
- 33.3917
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
