At Home
143,271 SF | Retail Building | Mesa, AZ 85206 | $11,046,593 ($77/SF) | 7.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,046,593
- Property Type
-
Retail
- Square Feet
- 143,271 SF
- Price / Square Foot
- $77
Listing Contacts
Chris Hollenbeck
Verified Profile
Shane Carter
Verified Profile
- Property Info
Property Overview
INVESTMENT HIGHLIGHTS
• Absolute NNN lease – zero landlord responsibilities
• Low Rent Per Square Foot: $5.72
• Upside in higher future rents from potential redevelopment
• 2% annual increases
• $73/SF – High residual value and below replacement cost
TENANT HIGHLIGHTS
• More than 250 locations in 40 states with 70 million visits a year
• At Home was acquired in 2021 by Hellman & Friedman, a private equity firm with over $80 billion in assets under management and committed capital.
• At Home’s revenue when they were acquired in 2021 was $1.737B
• Over 45 years in the business
LOCATION HIGHLIGHTS
• Densely populated trade area with ±358,175 residents in a 5 mile radius
• Located in the attractive retail corridor of Greenfield Gateway with neighboring national credit tenants such as Walmart Supercenter, Sportsman’s Warehouse, Hobby Lobby, Esporta Fitness, Raising Canes, Starbucks and more
• Large ±12 acre lot - prime for future redevelopment
• High average household incomes of $116,684 in a 1 mile radius
• Less than 1 mile from US-60 Freeway (±249,545 VPD)
• Absolute NNN lease – zero landlord responsibilities
• Low Rent Per Square Foot: $5.72
• Upside in higher future rents from potential redevelopment
• 2% annual increases
• $73/SF – High residual value and below replacement cost
TENANT HIGHLIGHTS
• More than 250 locations in 40 states with 70 million visits a year
• At Home was acquired in 2021 by Hellman & Friedman, a private equity firm with over $80 billion in assets under management and committed capital.
• At Home’s revenue when they were acquired in 2021 was $1.737B
• Over 45 years in the business
LOCATION HIGHLIGHTS
• Densely populated trade area with ±358,175 residents in a 5 mile radius
• Located in the attractive retail corridor of Greenfield Gateway with neighboring national credit tenants such as Walmart Supercenter, Sportsman’s Warehouse, Hobby Lobby, Esporta Fitness, Raising Canes, Starbucks and more
• Large ±12 acre lot - prime for future redevelopment
• High average household incomes of $116,684 in a 1 mile radius
• Less than 1 mile from US-60 Freeway (±249,545 VPD)
Property Details
- Class
- B
- Year Built
- 2002
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 521,849 SF
Highlights
- Absolute NNN lease – zero landlord responsibilities
- Low Rent Per Square Foot: $5.72
- Upside in future rents from potential new users
- 2% annual increases
- More than 250 locations in 40 states with 70 million visits a year
- Densely populated trade area with ±358,175 residents in a 5 mile radius
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