8601 7th St Phoenix, AZ 85020-3110

Property Details for 8601 7th St

Year built

1965

Construction

CONCRETE

Lot size

0.47 lot acres

Property size

2,667 SF

Zone code

C-C

Property type

Retail space

APN

160-04-004D

APU

16004004D

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN lease for a Filiberto's Mexican Food restaurant in Phoenix, Arizona. The 2,667 square foot building, constructed in 1995 and renovated in 2024, sits on a 0.46-acre lot at 8601 N 7th St, 85020, within a high-traffic area boasting strong demographics (220,000+ people within a 5-mile radius). The property benefits from a 20-year lease with 20 years remaining, featuring attractive 3% annual rent bumps and four, five-year renewal options. The current asking price is $2,361,905, representing a price per square foot of $885.60 and a 5.25% cap rate based on a current NOI of $124,000. This is a management-free investment with zero landlord responsibilities, offering significant long-term value and passive income potential. The lease is personally guaranteed by one of Filiberto's original founders, ensuring the stability and longevity of this well-established, fast-growing QSR brand with over 150 locations across Arizona, New Mexico, and California. This property offers a compelling combination of a strong tenant, favorable lease terms, and a prime location in a thriving Phoenix market. The property's APN is 160-04-004D.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.065

Latitude

33.5626

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments