Leroy’s Napa Auto
8882 West Bell Road, Peoria, Arizona 85382, USA Map
Freestanding Absolute NNN in Dense Business, Retail and Automotive Corridor in Phoenix Suburb
Listing Price $615,000
| Status | Closed |
| Lease Type | Absolute Net |
| GLA (Sq. Ft.) | 3,240 |
| NOI | $48,000 |
| Lease Term Remaining | 9 Years |
| Increases | Yes |
| State (BOR) | Arizona |
| Broker of Record | Ryan Sarbinoff |
| License # (BOR) | BR675146000 |
| Close Date | Jun 25, 2021 |
Investment Highlights
- Subject Property is a 3,240-Square Foot Building on a 0.5-Acre Lot | Building Features Four Lift Bays, Office, Restroom and Waiting Room with Signage
- Absolute NNN Lease with Zero Landlord Responsibility and Net Operating Income of $48,000
- Robust Local Traffic Counts on West Bell Road (66,858 Vehicles Per Day) and Arizona State Route 101 (123,660 VPD) | Subject is Located 10 Miles From Interstate 17 (207,142 VPD) and 15 Miles From Interstate 10/Papago Fwy (240,182 VPD) (Source: AZDOT.gov, CoStar.com, 2020 Count)
- Strategically Located in an Automotive Corridor with Twenty Major Car Dealerships Such as Mercedes Benz, Lexus, Audi, Acura, Honda, Volkswagen and More
- Located Nearby the Arrowhead Towne Center, an Open Air Mall with Free WiFi, Food Court, and Over 180 Stores and Restaurants | Anchored by Macy’s, Dillard’s, JCPenney, and Dick’s Sporting Goods
- Subject is Located Just Outside of Sun City, a 55+ Active Adult Retirement Community Across Six Square Miles with Over 40,000 Residents | Includes Eight Golf Courses, Seven Recreational Centers, and Amphitheater
- Over 290,000 People Live Within Five Miles, with an Average Household Income of $79,527 | Projections Show a 16.4-Percent Increase in the Median Household Income in Next Five Years
- Nearby Peoria Sports Complex is the Spring Training Facility for Major League Baseball Teams San Diego Padres and Seattle Mariners | Consists of One 12,500+ Capacity Stadium and Twelve Practice Fields
- Subject is Located 30 Miles From Phoenix Sky Harbor International Airport, Which Boarded Over 46 Million Passengers in 2019 and 22 Million in 2020
- Within Minutes of the P83 Entertainment District, Which Includes Two Shopping Centers (Arrowhead Crossing and North Valley Power Center), Huntington University, Hotels and Class A Office Space
- Ten Minutes From Rio Vista Park, a 52-Acre Park With a Recreation Center, Three Volleyball Courts, Seven Softball Fields, Public Skatepark and More
- Only 25 Miles South, Phoenix is the Fifth Largest City in the United States with a Population of 1.6 Million Residents, and a Metro Population of 4.9 Million
Investment Overview
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in Leroy’s Auto & Truck Care, an absolute net leased investment located at 8882 West Bell Road, Peoria, AZ (the “Property”). Built in 1998, subject to a 14 year lease expiring June 30, 2029, the Property comprises a +/- 3,240 SF building on a +/- 0.50-acre parcel, strategically positioned to be easy to access over 66,000 vehicles per day at the intersection of West Bell Road and North 89th Avenue, surrounded by retail, residential and other commercial development. The Property benefits from it’s highly visible location situated in a development area focused on automotive multiple car dealers, an Albertson’s grocery anchored center, and much more. The area is dense, located within 30 miles of Phoenix Sky Harbor Intercontinental Airport, half a mile off AZ SR 101 with 123,000 vehicles per day, 26 miles to Phoenix, 44 miles to Mesa, and 140 miles from Tucson. The population within 5 miles of the subject is 290,000 people, the average household income within five miles of subject is over $79,000 with over 119,000 households.
