This listing is under contract.

JUST LISTED: Chase Bank Ground Lease - Peoria, AZ | $5.3M | Hard-Corner (±1.27 Acres) - ±71,657 Cars a Day

9873 W Happy Valley Rd Peoria, AZ 85383

9873 W Happy Valley Rd, Peoria, AZ, 85383
9873 W Happy Valley Rd, Peoria, AZ, 85383
UNDER CONTRACT FOR SALE NNN Property
Property Type:
Single Tenant Retail (NNN)
Amount:
$5,300,000
Cap Rate:
4.57%
Last Verified:
Dec 23, 2021

Single-tenant Chase Bank ground lease investment opportunity, located on a heavily trafficked hard corner, with daily traffic counts of ±71,657 (Source: ADOT, 2020). JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with $3.684 trillion in assets and a S&P credit rating of A-. The 2020 annual bank deposits at this location were $157,021,000 (Source: FDIC). The current average household income in a one-mile radius is $146,226 and is expected to increase to $164,416 by 2026 (Source: Esri). The Property is located at a dense retail corridor with nearby national retailers including Target, Lowe’s Home Improvement, The Home Depot, Sprouts Farmers Market, Fry’s (Kroger) Marketplace, Kohl’s, Marshalls, Ross Dress for Less, PetSmart, Bank of America, Wells Fargo, CVS Pharmacy, Firestone Complete Auto Care, Sherwin Williams, McDonald’s, Starbucks, El Pollo Loco, and many more. There has been strong population growth in a three-mile radius, with an annual growth rate of 3.93% from 2010 to 2020 and estimated 2.20% from 2021 to 2026 (Source: Esri). The City of Peoria was ranked the #1 city to live in Arizona by Money Magazine and the 6th wealthiest city in Arizona by Phoenix Business Journal (Source: peoriaed.com).

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Map of 9873 W Happy Valley Rd, Peoria, AZ, 85383

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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.