123 Phoenix Rd - Fast Food FOR SALE


Phoenix, OR 97535
$2,400,000 USD
503-781-8786
123 Phoenix Rd, Phoenix, OR for Sale
$2,400,000 USD
Fast Food - FOR SALE
1/4
null | 5.5% Cap Rate

123 Phoenix Rd
Phoenix, OR 97535


HIGHLIGHTS

  • 2025 build-to-suit for an investment-grade tenant (BBB+, S&P).
  • 10-year NNN lease with 10% rent bumps every five years, including at the start of each of four 5-year options.
  • Prominent hard corner at the signalized intersection of Pacific Hwy (15,100 VPD) and N Phoenix Rd (12,476 VPD), with immediate access to I-5 Exit 24.
  • Across from Ray’s Food Place, a regional grocer drawing 180K+ annual visits; nearby national co-tenancy includes McDonald’s, Dutch Bros, & Home Depot
  • Only Starbucks in Phoenix; the nearest location is ~3 miles away in Medford.
  • Starbucks rationalized the trade area—retaining this site while closing one Ashland store and three Medford stores.

OVERVIEW

Northmarq is pleased to present a brand-new 2025 build-to-suit Starbucks on a 10-year NNN lease (BBB+ S&P), featuring 10% rent increases every five years, including at the start of each of four five-year options. The asset occupies a prominent, signalized hard corner at Pacific Hwy (15,100 VPD) and N Phoenix Rd (12,476 VPD) with immediate access to I-5 Exit 24 (35,000+ VPD), delivering exceptional visibility and regional connectivity. The Property benefits from daily needs co-tenancy—across from Ray’s Food Place (180K+ annual visits) and proximate to McDonald’s, Dutch Bros, and a high-performing Home Depot (800K+ annual visits last 12 months per Placer.ai). As the only Starbucks in Phoenix—retained by the tenant while it rationalized the trade area by closing one Ashland store and three Medford stores—this location captures consolidated demand and durable customer traffic. This is the first freeway-access Starbucks from the California border. Positioned as Phase I of a larger master plan, the Offering provides stable, investment-grade cash flow today with upside from future complementary pad development.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$1,109 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,080 SF

ZONING

C-1

APN/PARCEL ID

10009301

ASK ABOUT THIS PROPERTY

Scott FrankNorthmarqMore Info
503-781-8786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Scott FrankNorthmarqMore Info
503-781-8786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.