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3626 E Indian School Road - Gino's East of Chicago, Phoenix, AZ

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3626 E Indian School Road - Gino's East of Chicago

Phoenix, AZ 85018-5127 - Central Scottsdale Ret Submarket

Property Type:Retail Sub Type:Bar Status:Existing Year Built:1964
Building Size:4,431 SF Land Area:.65 AC (28,183 SF)
For Sale Price:$4,202,428 Price/SF:$948.42
Cap Rate:5.25 %
Parking:Free Surface spaces are available; Ratio of 9.02/1,000 SF
Features:Bus Line, Pylon Sign, Signage

Property Description: Night Club/Tavern

Sale Notes:
CBRE is pleased to present a very rare opportunity to purchase an urban infill Gino' s East of Chicago restaurant, which also includes a new Verizon cell tower lease. The property is located at 3626 East Indian School in the Arcadia neighborhood of Phoenix, Arizona. This site is located just south of the prestigious Camelback corridor.

The Gino' s East investment offering consists of a brand new 10 year triple net (NNN) single tenant lease. The lease includes 10% rental increases every five years, with Two (2), Five (5) year options for the tenant to renew. The building is estimated to be 4,431 rentable square feet on approximately 21,780 square feet of land. The investment offers an opportunity to own real estate with one of Chicago' s most iconic tenants. The offering also includes a new Verizon 5 year cell tower lease, with Four (4), Five (5) year options. The lease has a 6% increase starting Lease Year 6 and then 2% annual increases thereafter. This Arcadia location will be operated by a Gino' s East franchisee that has been hand selected by Gino' s East corporate. This franchisee has the full rights to Arizona and plans to do additional locations in 2017.

Joseph Compagno
(602) 735-1733

Max Bippus
(602) 735-5518

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