This listing is under contract.

Jiffy Lube Avondale, AZ | 2-Miles From Multiple New Manufacturing and Distribution Centers | 7.00% Cap Rate

115 Van Buren St Avondale, AZ 85323

115 Van Buren St, Avondale, AZ, 85323
115 Van Buren St, Avondale, AZ, 85323
UNDER CONTRACT FOR SALE NNN Property
Property Type:
Single Tenant Retail (NNN)
Amount:
$1,660,000
Cap Rate:
7.00%
Last Verified:
Feb 12, 2020

  • Single-tenant Jiffy Lube (Phoenix Lubrication Services, Inc.) investment opportunity, offering a 15-year absolute triple-net (NNN) lease with 2.75 years remaining.
  • The Tenant has been in business for over 30 years and operates ±67 locations throughout Arizona.
  • The Property is strategically located approximately one mile south of the I-10 Freeway, which sees ±189,962 daily vehicles on average (Source: ADOT, 2018).
  • Nearby national retailers include: Wells Fargo, Sam’s Club, Walgreens, The Home Depot, Ashley HomeStore, Goodwill, Circle K, AutoZone, O’Reilly, Taco Bell, Burger King, McDonald’s, and many more.
  • Nike recently acquired a manufacturing facility located less than two miles from the Property that will be transformed into a shoe factory. Nike will invest $184.5 million into the first phase of the facility expansion and will eventually employ roughly 500 people (Source: bizjournals.com, 2019).
  • Microsoft is building three new data centers in the Western Phoenix Valley, estimated to have an annual economic impact of $20 million and will create ±110 new Microsoft jobs as well as over 1,000 indirect jobs for construction. One of the data centers will be located roughly three miles south of the Property, consisting of two buildings totaling ±487,344 square feet (Source: azbigmedia.com, 2019).
  • Approximately three miles northwest of the Property, the brand-new Goodyear Civic Square at Estrella Falls is an $83 million project expected to finish by mid-2022. The project consists of a new permanent city hall, library, and ±100,000 square feet of Class-A office space.
  • Estimated annual population growth rate in a five-mile radius is approximately 1.91% per year over the next five years, more than double the national average (Source: Esri).

Additional URLs

Map of 115 Van Buren St, Avondale, AZ, 85323

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.