Investment Offering
Queen Creek, AZ - Salad & Go
90 W. Ocotillo Road | Queen Creek, AZ 85140
$1,700,000
Price5%
Cap Rate$85,000
NOI700
± SF Offering GLA1.17
± AC Land AreaDescription
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN,, corporate guaranteed, drive-thru equipped, Salad and Go investment property located in Queen Creek, Arizona (Phoenix MSA). The tenant, And Go Concepts, LLC, recently signed a brand new 20-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increase commencing in Year 5 of the initial term and continuing throughout the option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The newly-constructed building features a state-of-the-art design and high-quality materials. Salad and Go was founded in 2013 in Gilbert, Arizona. The company currently operates nearly 88 locations the Western United States and is continuing to expand.
Location
The Salad and Go is located near the signalized, hard corner intersection of Ocotillo Rd and Ironwood Dr with a combined (52,600 VPD). The building is equipped with a double drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is within close proximity to multiple national/credit tenants including Safeway, Walgreens, Circle K, O’Reilly Auto Parts, L.A. Fitness, Starbucks, Take 5 Oil Change, Ace Hardware, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover tenant exposure to the site. The site is within walking distance to the Amberline Queen Creek Apartments, a 199 unit new multi-family development that will provide a direct residential consumer base from which to draw. The 5-mile trade area is supported by over 112,000 residents and 12,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property boast an affluent average household income of $122,129.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215