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Flagstaff, AZ - Goodwill
4308 E US Hwy 66 | Flagstaff, AZ 86004
$5,250,000
Price5.73%
Cap Rate$301,036
NOI31,743
± SF Offering GLA2.95
± AC Land AreaDescription
SRS Real Estate Partners-West LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, Goodwill investment property located in Flagstaff, Arizona. The tenant recently executed a 5-year lease extension providing for an initial term through 2027 with 3
(5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Headquartered in Rockville, MD, Goodwill is a network of 157 community-based, autonomous organizations in the United States and Canada with a presence in 12 other countries.
Location
Goodwill is strategically located along U.S. Highway 89, a major commuter thoroughfare averaging 26,600 vehicles passing by daily. The site benefits from nearby on/off ramp access to Interstate 40 (66,400 VPD), the primary east/west freeway traveling throughout Flagstaff. The asset is ideally situated adjacent to Flagstaff Mall, a 347,000 square foot enclosed regional shopping center of more than 50 stores including Dillard’s, Bath & Body Works, Planet Fitness, Hobby Lobby, and more. Other nearby national/credit tenants include The Home Depot, Safeway, OfficeMax, CVS Pharmacy, Petco, Family Dollar, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, Summit High School is located less than 0.5 miles north of Goodwill, providing a direct consumer base from which to draw. Moreover, the asset is surrounded by several apartment complexes including Country Club Terrace (200 units), Country Club Meadows (178 units), and Mountain Ridge (201 units), providing a direct residential consumer base to draw from. The 5-mile trade area is supported by nearly 60,000 residents and 36,000 daytime employees with a healthy average household income of $87,000.
Documents & Links
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 Flagstaff AZ - Goodwill.pdf |  |  |
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215