Long Term Absolute NNN Chevron | 3501 W Union Hills Dr
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Long Term Absolute NNN Chevron 3501 W Union Hills Dr
2,500 SF Retail Building Phoenix, AZ 85308 $2,745,030 CAD ($1,098 CAD/SF) 5.50% Cap Rate
Investment Highlights
- Absolute NNN - no landlord responsibilities
- Attractive 2% annual increases
- Recently renovated
- ±16 years remaining on primary lease term
- Qualifies for bonus depreciation
- Located on a hard corner with ±64,240 vehicles per day at 35th Avenue & Union Hills Road
Executive Summary
INVESTMENT HIGHLIGHTS
• Absolute NNN - no landlord responsibilities
• ±16 years remaining on primary lease term
• Recently renovated
• Attractive 2% annual increases
• Qualifies for bonus depreciation
TENANT HIGHLIGHTS
• 9 unit franchisee operator with a net worth of $25M
• Chevron has ±8,000 locations in the US, with Arizona being one of the top states for number of locations
• Chevron had $196.9B in sales and other operating revenues in 2023
• Additional personal guaranty with guarantor net worth above $29.25M
• Property receives additional revenue from UHaul rentals, propane sales, and the restaurant
LOCATION HIGHLIGHTS
• Located on a hard corner with ±64,240 vehicles per day at 35th Avenue & Union Hills Road
• Strong household incomes over $106,000 in a 5 mile radius
• Close proximity to the 101 Freeway and I-17 Freeway
• Absolute NNN - no landlord responsibilities
• ±16 years remaining on primary lease term
• Recently renovated
• Attractive 2% annual increases
• Qualifies for bonus depreciation
TENANT HIGHLIGHTS
• 9 unit franchisee operator with a net worth of $25M
• Chevron has ±8,000 locations in the US, with Arizona being one of the top states for number of locations
• Chevron had $196.9B in sales and other operating revenues in 2023
• Additional personal guaranty with guarantor net worth above $29.25M
• Property receives additional revenue from UHaul rentals, propane sales, and the restaurant
LOCATION HIGHLIGHTS
• Located on a hard corner with ±64,240 vehicles per day at 35th Avenue & Union Hills Road
• Strong household incomes over $106,000 in a 5 mile radius
• Close proximity to the 101 Freeway and I-17 Freeway
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,500 SF
Building Class
B
Year Built/Renovated
1985/2024
Price
$2,745,030 CAD
Price Per SF
$1,098 CAD
Cap Rate
5.50%
NOI
$150,977 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Land Acres
0.67 AC
Zoning
C-2, Phoenix
Parking
9 Spaces (3.6 Spaces per 1,000 SF Leased)
Frontage
59 ft on N 35th Ave
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 207-20-002H | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $170,622 CAD |
PROPERTY TAXES
Parcel Number
207-20-002H
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$170,622 CAD
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Long Term Absolute NNN Chevron | 3501 W Union Hills Dr
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