2590 S Market St - Freestanding FOR SALE
Gilbert, AZ 85295 |
$2,535,000 USD
404-441-3849
2590 S Market St
Gilbert, AZ 85295
HIGHLIGHTS
- NNN Ground Lease with Increases
- Directly across from SanTan Village Marketplace – a 675,000-square-foot power center anchored by Walmart Supercenter and Sam’s Club
- 8.3 MSF of retail, 3.3 MSF of office, 1.8 MSF of industrial, and 8,812 multifamily units within a 3-mile radius
- Population of 125,222, over 41,400 households, and an average household income of $157,640 within a 3-mile radius
OVERVIEW
CBRE is pleased to exclusively offer for sale a ±12.4-year Whataburger NNN ground lease situated on 1.55 acres in Gilbert, AZ—a component of the Phoenix-Mesa-Chandler, AZ MSA (Population 5.1M). Whataburger’s 3,800-square-foot building was constructed in 2022, and its ground lease features a 10% rent increase in 2027, 2032, and each of the three 5-year renewal options.
FOR SALE DETAILS
PRICE
$2,535,000 USD
PRICE/SF
$676 USD /SF
CAP RATE
4.75%
% LEASED
-
TENANCY
Single
STATUS
Proposed
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Whataburger: Gilbert, AZ
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Fast Food
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2022
SPRINKLERS
-
PARKING SPACES
42
LAND DETAILS
LAND ACRES
1.55 AC
LAND SF
67,518 SF
ZONING
R-3
APN/PARCEL ID
313-21-979
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404-441-3849
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404-441-3849
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