320 W Florence Blvd - Convenience Store FOR SALE


Casa Grande, AZ 85122 | 
$4,070,000 USD
623-249-8637
320 W Florence Blvd, Casa Grande, AZ for Sale
$4,070,000 USD
Convenience Store - FOR SALE
1/16
null | 5.75% Cap Rate

320 W Florence Blvd
Casa Grande, AZ 85122


HIGHLIGHTS

  • New 20-Year Absolute NNN Lease Through August 2046
  • Potential 100% Bonus Depreciation | Recent Roof, Fuel-System and Paving Upgrades
  • $234,000 Stabilized NOI | 5.75% Cap Rate | $4.07M Asking Price
  • 10% Rent Increases Every Five Years | Four 5-Year Options
  • Corporate and Personal Guarantees | Experienced Multi-Site Operator
  • 0.55-Acre Signalized Site | Three Fee-Simple Parcels | I-8/I-10 Access

OVERVIEW

Commercial Plus, LLC is pleased to present the opportunity to acquire the fee-simple interest in a Sinclair-branded gas station and convenience store located at 320 W. Florence Blvd. in Casa Grande, Arizona. The offering combines long-term contractual income, an absolute NNN lease structure, scheduled rent growth and ownership of an improved infill site at a signalized Casa Grande intersection. Offered at $4,070,000, the property generates $234,000 in stabilized annual base rent, representing a 5.75% stabilized cap rate. The 20-year primary lease extends through August 13, 2046, providing an investor with durable income and limited management responsibilities. ABSOLUTE NNN LEASE The tenant is responsible for property taxes, insurance, maintenance, repairs, structure, roof, paving, fuel systems and other property-level obligations. This structure allows the purchaser to receive contractual rental income without responsibility for the day-to-day operation of the gas station or convenience store. The property is leased to an experienced multi-site operator. The lease is supported by corporate and personal guarantees, financial-reporting rights, assignment protections and tenant environmental obligations. CONTRACTUAL RENT GROWTH Annual base rent increases 10% every five years throughout the initial lease term. These increases produce 33.1% cumulative rent growth during the initial term and increase the yield on the original asking price from 5.75% to approximately 7.65% by Years 16–20. The lease also includes four additional five-year renewal options with 10% increases at each extension. FEE-SIMPLE REAL ESTATE The offering includes approximately 0.55 acres across three contiguous parcels and an approximately 2,130-square-foot convenience-store building. The purchaser receives fee-simple ownership of the land and improvements subject to the existing lease. Property improvements include: • Recently completed roof replacement • Four multi-product fuel dispensers • Approximately 35,000 gallons of fuel-storage capacity • Recently completed fuel-system upgrades • Newly paved and striped parking and circulation areas The tenant’s operating business, inventory and operations are not included in the sale. POTENTIAL BONUS DEPRECIATION As an improved retail motor-fuels property, the asset may qualify for accelerated depreciation treatment. Eligible portions of the depreciable basis may receive 15-year treatment and potentially qualify for first-year bonus depreciation, subject to property qualification, supported basis allocation, applicable tax elections and the purchaser’s individual circumstances. CASA GRANDE LOCATION The property occupies a visible position along Florence Boulevard at a signalized three-route intersection. The location benefits from established retail, regional roadway access, nearby residential development and connectivity to both Interstate 8 and Interstate 10. Casa Grande is centrally positioned between the Phoenix and Tucson metropolitan areas within the expanding Pinal County employment and technology corridor. The surrounding 15-minute trade area is projected to grow from approximately 76,800 residents in 2026 to approximately 87,400 by 2031. Qualified buyers may execute a confidentiality agreement to receive the complete offering package and supporting due-diligence materials. Unapproved site visits and direct contact with the tenant, employees or management are strictly prohibited. Stabilized NOI and cap rate exclude the initial three-month rent waiver. Potential depreciation benefits are subject to property qualification and the purchaser’s independent tax analysis.

FOR SALE DETAILS

PRICE

$4,070,000 USD

PRICE/SF

$2,172 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NNN Property in Casa Grande, AZ #cr103-az

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1961

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

B-2, Casa Grande

APN/PARCEL ID

506-07-053B,506-07-054,506-07-055

ASK ABOUT THIS PROPERTY

Dylan PriceCommercial Plus GroupMore Info
623-249-8637

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

Dylan PriceCommercial Plus GroupMore Info
623-249-8637

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