4902 East Warner RoadPhoenix, AZ 85044
listed bySEAN STUTZMAN O: 480.634.8194 C: [email protected]
ARI SPIRO O: 480.634.8596 C: [email protected]
JENNIFER EGGERT O: 480.565.3772 C: [email protected]
MICHAEL ACHTMAN O: 480.887.0597 C: [email protected]
pg 2
EXECUTIVE SUMMARY
SALE PRICE $4,500,000
PRICE/ SF $241.42/SF
PROFORMA CAP RATE 7.53%
BUILDING SIZE 18,640 SF
OCCUPANCY 85%
PARCEL SIZE 1.29 Acres
YEAR BUILT 1988
ZONING C-2, Phoenix
CROSS STREETS 48th St & Warner Rd
TRAFFIC COUNT 32,831 VPD (Warner)
• A-Location with Annual Household Income over $106,000
• Offering includes Pep Boys Freestanding Pad Building at Below Market Rents ($16.82 NNN)
• Stabilized Property with Long Tenant History
• Upside Opportunity - 6.57% CAP Rate at 85% Occupancy
• 100% E-Commerce Resistant Tenant Base
• Proforma 7.53% CAP Rate with Ability to Secure New Financing
pg 3
PROPERTY PHOTOS
pg 4
PROPERTY PHOTOS
pg 5
PARCEL VIEW
PARCEL #: 301-59-008Z
LOT SIZE: 1.29 Acres
TAXES (2019): $ 36,951.14
301-59-008Z301-59-008Z
48th Street
Warner Road
32,831 VPD
21,686 VPD
pg 6
AERIAL VIEW
ChandlerAhwatukee
AHWATUKEE FOOTHILLSA small town with big activities, Ahwatukee Foothills is the southernmost pocket of Phoenix at the base of south mountain park. One of 15 villages designated by the City of Phoenix, the affluent neighborhood of Ahwatukee Foothills offers its residents and visitors a leisurely lifestyle. South Mountain Park – the largest municipal park in the United States – stretches out along the community’s northern border. As a result, the views and opportunities for trail activities, from hiking to biking to horseback riding, can’t be beat.
Tempe
EXCELLENT LOCATION WITH EASY ACCESS AROUND TEMPE, CHANDLER, AND AHWATUKEE,
CENTRAL TO THE I-10, US-60, & LOOP-101
pg 7
AREA OVERVIEW
CHANDLER, AZChandler, the fourth largest City in Arizona, is located in one of the fastest growing innovation and technology centers in the nation. Chandler is a vibrant, diverse, fiscally responsible community with a supportive business climate that attracts global industry leaders, exciting startups, talented workers and their families. In addition to being a great place to live, play and work our local hotels, resorts, golf courses, restaurants and ample shopping opportunities make Chandler one of Arizona’s great vacation spots. Chandler embodies an active lifestyle with easy access to outdoor recreation with endless family-fun, award-winning events, world-class golf facilities, and a vibrant downtown.
TEMPE, AZKnown for hosting year-round events, Tempe is home to one of the longest-standing, juried arts festivals in the state, Tempe Festival of the Arts. Four Peaks Oktoberfest at Tempe Town Lake, Arizona Dragon Boat Festival, and Rock ‘n’ Roll Arizona Marathon and ½ Marathon are among the many other special events to check out while in Tempe. Home to Arizona State University, Tempe is one of Arizona’s most educated cities, with 40% of adults over 25 having a Bachelor’s Degree or Better. Tempe attracts a great number of Tourists with its many events and attractions like Tempe Town Lake; the city brings in 3.7 Million annual visitors on average, which has an estimated economic impact of over $1 Billion.
pg 8
RENT PROJECTIONS
Unit Tenant Name Unit Sqft Original Lease Date Lease From Lease To Month PSF Annual PSF Monthly Rent Annual RentRental
DateIncreases Amount
Lease Type
Pad Pep Boys Auto Service & Tires 5,056 11/21/2013 03/01/2019 02/29/2024 1.40$ 16.82$ 7,085.00$ 85,020$ 03/01/21 $7,235.00 NNN
03/01/22 $7,335.00 estimated at $6 psf
*03/01/24 $7,630.00
*03/01/26 $7,780.00
Options/Notes: One, 5-year term remaining. This building has been an automotive use since 1989. *03/01/28 $7,930.00
1 Available 1,010 NNN
Notes: formerly general office use estimated at $6 psf
2 Nemanic Chiropractic 1,082 10/01/2012 02/01/2017 01/31/2023 1.41$ 16.89$ 1,522.55$ 18,271$ 02/01/20 $1,553.00 NNN
02/01/21 $1,584.06 estimated at $6 psf
Options/Notes: No Options Remaining. 02/01/22 $1,615.74
3 Lord & Cobbler Shoe Repair 500 12/06/2016 12/01/2016 11/30/2021 2.03$ 24.42$ 1,017.41$ 12,209$ 12/01/20 $1,047.93 NNN
*12/01/21 $1,079.37 estimated at $6 psf
*12/01/22 $1,111.75
*12/01/23 $1,145.10
*12/01/24 $1,179.46
Options/Notes: One, 5-year term remaining. This suite has been a shoe repair business since 1998. *12/01/25 $1,214.84
4 D'Amico Trattoria 3,600 12/30/2015 01/04/2016 01/03/2021 1.69$ 20.34$ 6,101.43$ 73,217$ 01/01/20 $6,284.47 NNN
*01/1/21 $6,473.01 estimated at $6 psf
*01/1/22 $6,667.20
*01/1/23 $6,867.21
*01/1/24 $7,073.23
Options/Notes: One, 5-year term remaining. This suite has been an Italian Restaurant since 1998. *01/1/25 $7,285.43
5 Trend Smoke & Cigar 1,000 08/25/2014 09/01/2018 08/31/2021 1.69$ 20.26$ 1,688.26$ 20,259$ 09/01/20 $1,738.91 NNN
Options/Notes: No Options Remaining. This suite has been a Veterinarian and Dog Grooming since 2003. estimated at $6 psf
6 Ahwatukee Veterinary 3,996 06/01/2012 06/01/2018 05/31/2023 1.72$ 20.68$ 6,888.00$ 82,656$ 06/01/20 $7,095.00 NNN
06/01/21 $7,308.00 estimated at $6 psf
Options/Notes: No Options Remaining. 06/01/22 $7,527.00
7 Bark Avenue Pet Salon 600 09/30/2012 09/01/2018 08/31/2021 2.05$ 24.58$ 1,228.95$ 14,747$ 09/01/20 $1,248.95 NNN
Options/Notes: No Options Remaining. This suite has been a Dog Grooming and Veterinarian since 2003. estimated at $6 psf
11 Available 700
Notes: formerly State Farm office for 20 years.
12 Available 1,096
Notes: formerly a Salon.
Total Units 18,640 100% Occupied 16.44$ 25,532$ 306,379$
Occupied Units: 7 | Vacancy: 3 | 85% Occupied
pg 9
RENT PROJECTIONS
Unit Tenant Name APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR
Pad Pep Boys Auto Service & Tires 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ 7,085.00$ $7,235.00 85,170$
1 Available -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
2 Nemanic Chiropractic $1,553.00 1,553.00$ 1,553.00$ 1,553.00$ 1,553.00$ 1,553.00$ 1,553.00$ 1,553.00$ 1,553.00$ 1,553.00$ $1,584.06 1,584.06$ 18,698$
3 Lord & Cobbler Shoe Repair 1,017.41$ 1,017.41$ 1,017.41$ 1,017.41$ 1,017.41$ 1,017.41$ 1,017.41$ 1,017.41$ $1,047.93 1,047.93$ 1,047.93$ 1,047.93$ 12,331$
4 D'Amico Trattoria $6,284.47 6,284.47$ 6,284.47$ 6,284.47$ 6,284.47$ 6,284.47$ 6,284.47$ 6,284.47$ 6,284.47$ $6,473.01 6,473.01$ 6,473.01$ 75,979$
5 Trend Smoke & Cigar 1,688.26$ 1,688.26$ 1,688.26$ 1,688.26$ 1,688.26$ $1,738.91 1,738.91$ 1,738.91$ 1,738.91$ 1,738.91$ 1,738.91$ 1,738.91$ 20,614$
6 Ahwatukee Veterinary 6,888.00$ 6,888.00$ $7,095.00 7,095.00$ 7,095.00$ 7,095.00$ 7,095.00$ 7,095.00$ 7,095.00$ 7,095.00$ 7,095.00$ 7,095.00$ 84,726$
7 Bark Avenue Pet Salon 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 1,228.95$ 14,747$
11 Available -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
12 Available -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Total Units 25,745$ 25,745$ 25,952$ 25,952$ 25,952$ 26,003$ 26,003$ 26,003$ 26,033$ 26,222$ 26,253$ 26,403$ 312,265$
pg 10
FINANCIAL ANALYSIS
APRIL 2020 YEAR FORWARDPROFORMA
95% OCCUPANCYCURRENT
85% OCCUPANCY
Scheduled Gross Income $362,773 $312,265
CAM Recapture (estimated at $6 NNN) $111,840 $95,004
Total Gross Income $474,613 $407,269
Vacancy (5%/15% Actual) $23,731 $0/Actual
Adjusted Gross Income $450,883 $407,269
Total Operating Expenses (estimated at $6 NNN) $111,840 $111,840
Net Operating Income $339,043 $295,429
$241.42 psfSale Price of $4,500,000 Actual Cap Rate of 6.57%Proforma Cap Rate of 7.53%
pg 11
TENANT PROFILES
Voted "Best Veterinarian" by Ahwatukee Foothills News, Ahwatukee Commons Veterinary Hospital is a full-service vet and boarding clinic located in the Foothills of Ahwatukee at the corner of Warner and 48th Street. The professional and courteous staff at ACVH provides the best possible veterinary, surgical and dental care for their highly-valued patients. In addition to being an animal hospital/clinic, Ahwatukee Commons Veterinary Hospital also offers complete boarding services for your pets.
In 1921, four Navy buddies pooled together $800 to open a single auto parts supply store in Philadelphia. This venture would go on to become the multi-billion dollar nationwide retails and service chain that is known as Pep Boys today. With over 900 stores across the U.S. and Puerto Rico, the Company has come a long way from its humble beginnings. Pep Boys is attributed as the “founders of the automotive aftermarket”.
Trattoria D’Amico is an authentic Italian Restaurant owned and operated by an Italian family from Rome, Italy. Massimo, Romolo and Claudia have been working in restaurants since they were able to walk. They owned their own restaurant in Rome for 43 years and have decided to bring their ideas to America. Now it is time to Trattoria D’amico to bring the Italian best cuisine to the States.
TRASH
SIGN
BAYS
NORTH
pg 12
SITE PLAN
48th Street
Warn
er Roa
d
32,8
31 V
PD
21,686 VPD
AVAILABLE
SMOKE SHOP
SHOE REPAIR
AVAILABLE
CHIROPRACTOR
AVAILABLE
AVERAGE HOUSEHOLD
INCOME$106,290*3 Mile Radius
AGE36.2*5 Mile Radius
DAYTIME POPULATION
318,150*5 Mile Radius
MEDIAN
2019 SUMMARY (SOURCE: ESRI) ONE MILE THREE MILE FIVE MILE
DAYTIME POPULATION 19,645 133,713 318,150
POPULATION 13,136 94,671 227,206
AVG HOUSEHOLD SIZE 2.01 2.42 2.49
AVG HOUSEHOLD INCOME $82,391 $106,290 $100,991
MEDIAN AGE 37.9 37.4 36.2
pg 13
DEMOGRAPHIC ANALYSIS
4902 East Warner RoadPhoenix, AZ 85044
listed bySEAN STUTZMAN O: 480.634.8194 C: [email protected]
ARI SPIRO O: 480.634.8596 C: [email protected]
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Disclaimer
JENNIFER EGGERT O: 480.565.3772 C: [email protected]
MICHAEL ACHTMAN O: 480.887.0597 C: [email protected]
