This listing is under contract.

Just Listed for Sale: Wilhelm Automotive Phoenix | April 2020 Opening | 15 Year Absolute NNN Lease

15275 N 35th Ave Phoenix, AZ 85053

15275 N 35th Ave, Phoenix, AZ, 85053
Representative Photo
15275 N 35th Ave, Phoenix, AZ, 85053
UNDER CONTRACT FOR SALE NNN Property
Property Type:
Single Tenant Retail (NNN)
Amount:
$2,688,000
Cap Rate:
5.85%
Last Verified:
Mar 24, 2020

  • Brand-new single-tenant Wilhelm Automotive investment opportunity, offering a 15-year absolute triple-net (NNN) lease with no landlord responsibilities.
  • The lease is guaranteed by Wilhelm's parent company, GB Auto Service, Inc., a leading provider of automotive aftermarket repair service with ±116 retail locations across the Southwest.
  • The Property is located in a densely-populated area, with a 2019 population of ±373,766 in a 5-mile radius (Source: Esri).
  • Wilhelm Automotive is located near the highly-traveled intersection of West Greenway Road and North 35th Avenue, with average daily traffic counts of ±59,180 (Source: Esri).
  • The I-17 Freeway sees ±194,378 average vehicles daily at the Greenway Road exit, which is approximately one mile from the Property (Source: ADOT, 2018). 
  • The Property is located in Phoenix, Arizona, the fifth-largest city in the United States with a population of ±1,711,356 (Source: World Population Review, 2019). Phoenix is the county seat of Maricopa County, which has had the second-highest numeric population growth of any county in the United States since 2010 (Source: United States Census Bureau, 2019).  
  • Less than three miles from the Property is Arizona State University – West Campus, one of the five campuses that compose Arizona State University.
  • The top employers in Phoenix are: Banner Health (±10,041 employees), American Express (±6,754 employees), Honeywell (±6,262 employees), Amazon (±6,083 employees), and JPMorgan Chase (±6,060 employees) (Source: phoenix.gov).
  • Nearby national retailers include: Smart & Final Extra!, Wendy’s, Popeyes Louisiana Kitchen, Circle K, Del Taco, QuikTrip, and more.

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Map of 15275 N 35th Ave, Phoenix, AZ, 85053

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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.