This listing is under contract.

JUST LISTED: Two Tenant Dutch Bros Coffee - Pedego Bikes Gilbert, AZ | $2.6M | Below Market Rents

459 N Gilbert Road Gilbert, AZ 85234

459 N Gilbert Road, Gilbert, AZ, 85234
459 N Gilbert Road, Gilbert, AZ, 85234
UNDER CONTRACT FOR SALE NNN Property
Property Type:
Neighborhood Center
Amount:
$2,600,000
Cap Rate:
4.42%
Last Verified:
Nov 17, 2021

Two Tenant investment opportunity with Dutch Bros Coffee and Pedego Electric Bikes. Well-below market rent with rare +2.35% to 2.4% annual increases in the initial term and 2.75% annual increases in the options. Thompson McCarthy Coffee Co. has been a highly successful Dutch Bros franchisee in the Phoenix metropolitan area since 2006. They operate over 20 locations and continue to expand in Arizona. Located in Gilbert’s historic downtown Heritage District, the most in-demand destination for shopping, dining, and entertainment in the Southeast Valley. The neighborhood is currently undergoing a 10-year redevelopment project to add ±151,500 square feet of retail space, ±322,000 square feet of commercial office space, ±2,010 units of multi-family housing, and ±320 hotel rooms. Currently under development directly across the street from the Property is Heritage Park, a ±9-acre mixed-use masterplan of office, retail, multifamily and hotel projects oriented around a remarkable public amenity space (Source: creationequity.com). Dense population of ±411,348 in a five-mile radius (Source: Esri). Average household income of ±$104,686 in a three-mile radius (Source: Esri). Nearby national retailers include Walgreens, Firestone Complete Auto Care, O’Reilly Auto Parts, Chase Bank, Wells Fargo Bank, Burger King, Dairy Queen, Arby’s, Salad and Go, and more.

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Map of 459 N Gilbert Road, Gilbert, AZ, 85234

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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.