Investment sale · Free Standing Building
Tempe Crossing
Priest Dr & Ray Rd | NEC
9895 S Priest Drive, Tempe, AZ 85284
- Price
- $4,280,000
- Cap rate
- 5.20%
- NOI
- $222,596
- Building Size
- 5,634 SF
- Tenancy
- Multi-tenant
- Traffic
- 191,000 VPDon I-10
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About this opportunity
Listed by Isaiah Clayton and Chad Tiedeman, Phoenix Commercial Advisors.
The site
| Property type | Retail · Free Standing Building |
|---|
Trade area
| 1 Mile | 3 Miles | 5 Miles | |
|---|---|---|---|
| Population | 11,528 | 97,574 | 213,307 |
| Households | 5,055 | 40,907 | 88,916 |
| Average household income | $132,022 | $147,829 | $141,111 |
2026 estimates for rings around the property.
Highlights
- Two tenant, fee simple property sitting on 1.3 acres of well-located real estate along the I-10 & Ray Road corridor - connecting Tempe, Chandler, Phoenix and the strong, affluent sub-market of Ahwatukee
- High-credit, corporate guaranteed tenancy, with Black Rock Coffee Bar (NASDAQ: BRCB) who has over 175 locations nationally and 55+ locations in Arizona alone
- Tested location - this Black Rock Coffee is the company’s 13th most trafficked location in the nation, according to Placer.ai
- Compounding income growth, with all tenants having 10% rent increases every five years in primary term and option periods
- Dynamic retail intersection with the regional shopping mall Chandler Pavilions just to the southwest and adjacent to the Shoppes at Casa Paloma
- Notable tenants at the intersection include: Lowe’s, AJ’s Fine Foods, Sam’s Club, Home Depot, Pottery Barn, Ulta Beauty and many more
- Strong visibility on Priest Drive & Ray Road with over 66,000 vehicles per day at the intersection
- Highly affluent trade area with an average household income of nearly $144,000 within a 3-mile radius
- Located just a 5-minute drive away from Intel Corporation’s 680+ acre Chandler Campus, the company’s second largest site in the U.S., and the largest employer in Chandler with ±11,300 employees
- Less than a half mile from the I-10, with over 191,000 vehicles per day and connects Tucson to Phoenix
- Dense neighborhoods surround the property, with nearly 213,000 residents in a 5-mile radius
Property overview
Tempe Crossing | 5.20 Cap | 5,634 SF | 100% Leased | Drive-Thru
Tempe Crossing is located along Priest Drive; situated on the east side; just north of Ray Road.
Location9895 S Priest Drive, Tempe, AZ 85284
- I-100.6 mi
- Loop 2021.7 mi
- Chandler Fashion Center3.9 mi
- Ahwatukee4.0 mi
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