1616 E Glendale Ave - Freestanding FOR SALE


Phoenix, AZ 85020- North Phoenix
$4,074,215 USD
602-538-7155
1616 E Glendale Ave, Phoenix, AZ for Sale
$4,074,215 USD
Freestanding - FOR SALE
1/6
null | 9% Cap Rate

1616 E Glendale Ave
Phoenix, AZ 85020
North Phoenix


HIGHLIGHTS

  • Absolute NNN Lease – zero landlord responsibilities
  • ±9 years remaining on primary lease term
  • Attractive 3% annual increases
  • Fully renovated in 2019
  • Parent company guaranty
  • 10.16% Average Cap rate for the primary lease term

OVERVIEW

INVESTMENT HIGHLIGHTS • Absolute NNN Lease – zero landlord responsibilities • ±9 years remaining on primary lease term • Attractive 3% annual increases • Fully renovated in 2019 • Parent company guaranty • 10.16% Average Cap rate for the primary lease term TENANT HIGHLIGHTS • Well known, recognized cannabis dispensary operator with 4 locations throughout Arizona • Known for its upscale, inviting store design and exceptional customer service, creating a best-in-class shopping experience • Arizona cannabis sales topped $1.3 billion in 2024, providing a strong market backdrop for continued success • www.sundaygoods.com LOCATION HIGHLIGHTS • Densely populated trade area with over 353,765 residents in a 5-mile radius • High traffic intersection with over a combined 80,000 VPD • Extremely high average household incomes over $151,000 in a 1 mile radius • Across the street from busy Sprouts anchored shopping center

FOR SALE DETAILS

PRICE

$4,074,215 USD

PRICE/SF

$2,115 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunday Goods - Long Term Abs NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

C-2, Phoenix

APN/PARCEL ID

164-26-035B

ASK ABOUT THIS PROPERTY

Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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