NEW LONG TERM 10-YEAR EXTENSION

8039 N 35th Avenue Phoenix, AZ 85051

8039 N 35th Avenue, Phoenix, AZ, 85051
8039 N 35th Avenue, Phoenix, AZ, 85051
FOR SALE NNN Property
Property Type:
Single Tenant Retail (NNN)
Amount:
$2,250,000
Cap Rate:
6.00%
Last Verified:
Jul 29, 2021

LONG TERM COMMITMENT - Operating at this location since 1983, the tenant recently extended their term an additional 6 years and 10 months with an agreed capital improvement of at least $250k (no later than 12/31/2023) EXCELLENT VISIBILITY - Direct frontage on 35th Avenue, visible to 30,000 cars per day (CPD) and has easy ingress/egress SYNERGETIC POWER CENTER - Anchored by VASA Fitness, a 60,000 SF gym, and CASA Academy, a 28,000 SF charter school serving grades K-4. CASA will continue to add one grade level per year until they serve grades K-8. The center features great cross traffic that will continue to benefit CEC OUTSTANDING DEMOGRAPHICS - Within a 3-mile radius there are 36 elementary schools, +200K residents and a $48K median household income

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Map of 8039 N 35th Avenue, Phoenix, AZ, 85051

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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.