Investment Offering
White Hills, AZ - Del Taco
19312 N 93 Hwy | White HIlls, AZ 86455
$3,750,000
Price8%
Cap Rate$300,000
NOI2,304
± SF Offering GLADescription
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, franchisee guaranteed, drive-thru equipped, Del Taco investment property located in White Hills, Arizona. The tenant, LV Pretroleum, LLC, recently signed a brand new 20-year lease with 4 (10-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and FMV increases 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. Founded in 1964, today Del Taco serves more than three million guests each week at its approximately 600 restaurants across 15 states.
Location
The asset is strategically located along U.S. Highway 93, a major commuter thoroughfare averaging 16,100 vehicles passing by daily and directly connects Las Vegas and Phoenix. 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 site is equipped with a large monument sign, creating excellent visibility along U.S. Highway 93. Furthermore, there is extremely limited competition in the surrounding 5-mile area with the asset being of one of only a few food options for the city of White Hills and travelers along U.S. Highway 93. The asset is adjacent to Cat Scale Truck Stop, TA Express Truck Stop, and a Conoco gas station, helping increase consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by average household income of $59,821.
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