Barrio Queen - Queen Creek (Phoenix MSA)
6,396 SF | Retail Building | Queen Creek, AZ 85142 | $4,150,000 ($649/SF) | 6.40% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,150,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 6,396 SF
- Price / Square Foot
- $649
Listing Contacts
Emery Shane
Verified Profile
- Property Info
Property Overview
NNN LEASE Institutional Quality Real Property, Location, and Tenant. Barrio Queen is on a long NNN lease that provides the best of all worlds to the real estate investor. The concept is a well tested, highly awarded, high volume restaurant, with multiple locations. It is located in one of the best areas of the Phoenix AZ MSA. Barrio Queen has been recently purchased by international restaurant group, MTY ($1.16 BN Market CAP/$5.1 BN sales) that wants to take the concept national. The location is AAA, in an area known as Queen Creek (SW Phoenix Metro). Demographics put this location in the top 10% in the US, with average HH income over $165,000 within 1 and 3 miles! The site is in the center of Queen Creek Marketplace, the dominant center, which is a top 10% power center in Arizona (7.5 million visits annually). Barrio Queen sits right in the middle of the center, featuring draws from every point in the center. Security of the income is aided by low rent, and the superb rent to sales ratio. Finally, the lease features above market 2% annual increases, or 11.2% every Five years.
Property Details
- Year Built
- 2020
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 56,628 SF
Highlights
- Barrio Queen—NNN Established high volume concept. Chain owned by publicly traded Company (“MTY”)
- AAA Location: Queen Creek (Phoenix MSA) $165,000 avg. HH within 1 and 3 miles—Top 10% US
- Absolute NNN 15 year lease—low market rent & above average increases—2% annually (11 LTR)
- AAA Site. Outparcel to Queen Creek Marketplace. Dominant Power Center (top 10 in AZ). 7.5 million visitors annually.
- Security: High barriers to entry, low rents and great rent to sales ratio.
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