655 Thunderbird Rd, Phoenix, AZ 85022-5213
- Banks
- 5,225 SF
- 0.63 lot acres
Current Use by Public Records
- Wells Fargo Bank / Bank / Loan Service
- Wells Fargo ATM / Atm
Property Details for 655 Thunderbird Rd
- Year built
- 1983
- Construction
- CONCRETE
- Lot size
- 0.63 lot acres
- Zone code
- C-R
- Property type
- Banks
- APN
- 159-02-675
- APU
- 15902675
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 2, 2022 | $4,020,000 | Frez Clay LLC | Lisa Tauber | Special Warranty Deed | $3M · The Bank Of Tampa |
| May 16, 2022 | — | Lisa Tauber | — | Deed · related | $2M · The Bank Of Hemet |
| Jan 30, 2019 | — | Tauber,marion Trust | — | Deed · related | — |
| Jan 31, 2008 | $3,750,000 | Edward A Tauber | Squaw Peak Ventures LLC | Grant Deed | $2.3M · Flagstar Bank Fsb |
| Nov 17, 2006 | $1,100,000 | Squaw Peak Ventures LLC | Flight 041 LLC | Grant Deed | $2M · Point Center Mtg Fund I LLC |
| May 24, 2006 | $301,500 | Sb Building LLC | Goldberg,david A & Susan W | Grant Deed | — |
| Feb 22, 2005 | $625,000 | David A Goldberg | Stojanovic,steven | Grant Deed | — |
| Apr 15, 1999 | — | Scs Realty | Stojanovic,stevan & Connie | Quit Claim Deed · related | — |
| Mar 7, 1996 | $450,000 | Stevan Stojanovic | Western Security Bank | Grant Deed · related | $400k · Western Security Bank |
| Jan 24, 1996 | $485,000 | Western Security Bank | Paul D Jones | Grant Deed · related | — |
| Sep 26, 1995 | — | Charmian L Jones | Paul B Jones Estate | Quit Claim Deed · related | — |
| Aug 23, 1990 | $575,000 | Paul D Jones | Western Security | Grant Deed · related | $518k · Western Security Bank |
| Sep 29, 1988 | $700,000 | Michael Spillman | — | Deed Of Trust · related | — |
| Sep 29, 1988 | — | Michael Spillman | Unknown | Grant Deed · related | — |
| Jul 1, 1988 | $700,000 | Michae Michae Spillman | Weste | Grant Deed · related | — |
| — | — | Tauber,marion Trust | — | Loan Modification · related | — |
| — | — | David Goldberg | — | Deed Of Trust · related | $1.3M · Irwin Union Bank Fsb |
Description
This exceptional investment opportunity presents a 5,150 square foot Wells Fargo Bank branch located at 655 E Thunderbird Rd, Phoenix, AZ 85022. The property sits on a 0.62-acre lot and boasts a strong financial performance, with a current asking price of $3,858,464 and a 6.25% cap rate, generating a net operating income (NOI) of $241,154. The property features a dual drive-thru and drive-thru ATM, enhancing convenience and accessibility for customers. The absolute NNN lease, with a corporate guaranty from Wells Fargo Bank, minimizes landlord responsibilities. The lease commenced on June 4, 2007, with a 20-year term, leaving approximately 2.5 years remaining until expiration on May 31, 2027. Built in 1983, this single-tenant property benefits from a highly visible location at a high-traffic intersection, boasting over 68,000 vehicles per day on 7th Street & Thunderbird Road. The surrounding area is densely populated, with over 381,000 residents within a 5-mile radius and average household incomes exceeding $158,000 within a 1-mile radius. Numerous national retailers, including Safeway, Walgreens, McDonald's, Starbucks, and Dunkin', are located nearby. The property also includes a monument sign generating additional income. The property's APN is 159-02-675. Wells Fargo, an investment-grade tenant with an A+ rating from Standard & Poor's, has occupied this location for over 17 years. This is a rare opportunity to acquire a stable, high-performing asset with a blue-chip tenant in a prime location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,145,000
-
Alternative Use
- Use
- Estimation
- FINANCIAL BUILDING
- $2,780,000 Current use
- COMMERCIAL (GENERAL)
- $3,640,000 Change: +31% Conversion: Difficult
- RESTAURANT
- $2,790,000 Change: +0% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.067
- Latitude
- 33.6072
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
