---
title: "Sell a Ground Lease Property in Arizona | PCA"
url: "https://newphoenixcommercialadvisors.com/sell-ground-lease-arizona/"
description: "For owners: what an absolute NNN ground lease is, how the sale of a ground lease property runs in Arizona, what a buyer looks at"
publisher: "Phoenix Commercial Advisors"
generated: "11/15/2026"
date: "11/15/2026"
---

# How do I sell a ground lease property in Arizona?

If you own land in Arizona that is ground leased to a retailer or restaurant, the Phoenix Commercial Advisors investment sales team can value the leased fee, market it to qualified buyers and run the offer, escrow and closing. 9 single-tenant offerings are on the market with the team now, in Arizona and Colorado.

## The short answer

A ground lease property in Arizona can be listed by any licensed commercial real estate broker. This page states what Phoenix Commercial Advisors (PCA) does for an owner who wants to sell one. PCA is a retail-only commercial real estate brokerage in Phoenix, founded in 1996. Its [investment sales team](https://newphoenixcommercialadvisors.com/services/investment-sales/) sells absolute NNN ground leases and other single-tenant net lease retail, and also multi-tenant retail and shopping centers.

The steps of a single-tenant sale, and the document levels a buyer passes through, are set out on the [net lease sellers page](https://newphoenixcommercialadvisors.com/sell-net-lease-property-arizona/). This page covers what is particular to a ground lease.

## What a ground lease is

In an absolute NNN ground lease the tenant leases the land. The tenant typically owns or builds the building and carries nearly all obligations for the property, and the landowner collects ground rent. An owner who sells is selling the land with that lease in place.

A ground lease is one kind of net lease. In the others, single net, double net and triple net (NNN), the landlord owns the building and the lease splits the property expenses between landlord and tenant.

## What a buyer looks at

- **The ground rent and its increases.**
- **The term.** How much of the primary term remains, and the options to renew.
- **The tenant and who stands behind the lease.** A corporate tenant, a corporate guarantee and a franchisee guarantee are different credits to a buyer.
- **The building at the end of the lease.** The lease says who owns the improvements when the term ends.
- **The location.** Traffic, trade area and the site itself.
- **Comparable sales** of similar property.

A buyer reads the lease itself, so the offering package carries the ground lease or an abstract of it.

## What is my ground lease worth?

The value is mostly the value of the lease. A broker opinion of value gives a written price range, built from the items above. It is not an appraisal, and asking for one does not commit you to anything.

The single-tenant offerings below publish an asking price and, where the seller allows, a cap rate. Of the 9 single-tenant offerings, 8 publish a cap rate; the published rates run from 4.65% to 6.50%. Those are asking figures, not sale prices, and a rate on one property says little about another with a different lease. The [cap rates page](https://newphoenixcommercialadvisors.com/cap-rates-arizona-net-lease/) explains the figure. To get a number for your property, start at [What is my property worth?](https://newphoenixcommercialadvisors.com/sell/property-value/). That page does not show a price.

## What can be checked

- **Current book.** 20 investment offerings are listed as of 11/15/2026; 9 of them are single-tenant.
- **Volume.** Over $2.5 billion of retail investment property sold across 430+ closings, as the firm reports.
- **Ground leases in the record.** The firm's transaction record of 7,466 leases and sales from 1996 to 2026 keeps ground leases as their own deal type. The totals by type are on the [track record](https://newphoenixcommercialadvisors.com/track-record/).
- **Closings announced.** The net lease sales below link to the property and to the brokers who closed them.
- **Focus.** A retail-only brokerage since 1996.

## Terms, in plain words

- **Ground lease.** A lease of land. The tenant typically owns or builds the improvements.
- **Leased fee.** The landowner's interest: the land, subject to the lease.
- **Absolute NNN.** The tenant carries nearly all obligations for the property.
- **Cap rate.** Annual net operating income divided by the price.
- **Broker opinion of value.** A broker's written estimate of a likely sale price range. Not an appraisal.

## Start

Start at [What is my property worth?](https://newphoenixcommercialadvisors.com/sell/property-value/), or [contact the office](https://newphoenixcommercialadvisors.com/contact/) and choose Owner considering a sale, or call 602-957-9800. A broker from the [investment sales team](https://newphoenixcommercialadvisors.com/team/) replies.

## Every offering in this group

| Property | City | Type | Size | Price or rate | Brokers |
|---|---|---|---|---|---|
| [Tutor Time](https://newphoenixcommercialadvisors.com/properties/tutor-time-anthem/) (Anthem Way & I-17 / NEC) | Anthem | Sale, Freestanding buildings | 11,752 SF | $4,500,000 | Isaiah Clayton, Chad Tiedeman |
| [Icons Sports Grill](https://newphoenixcommercialadvisors.com/properties/icons-sports-grill-gilbert/) (McQueen Rd & Elliot Rd / SEC) | Gilbert | Sale, Restaurant | 6,105 SF | $1,620,000, 6.00% cap | Isaiah Clayton, Chad Tiedeman |
| [Angie's Prime Grill](https://newphoenixcommercialadvisors.com/properties/angies-prime-grill-prescott-valley/) (State Route 69 & Stoneridge Dr / SWC) | Prescott Valley | Sale, Freestanding buildings | 1,045 SF | $2,632,000, 5.70% cap | Danny Gardiner, Chad Tiedeman |
| [Chipotle](https://newphoenixcommercialadvisors.com/properties/chipotle-gilbert/) (Power Rd & Germann Rd / SWC) | Gilbert | Sale, Freestanding buildings | 2,325 SF | $3,900,000, 4.65% cap | Chad Tiedeman |
| [Senor Taco](https://newphoenixcommercialadvisors.com/properties/senor-taco-chandler/) (Dobson Rd & Warner Rd / NWC) | Chandler | Sale, Restaurant | 2,768 SF | $2,609,000, 5.75% cap | Danny Gardiner, Isaiah Clayton |
| [Fresenius Medical Care](https://newphoenixcommercialadvisors.com/properties/fresenius-medical-care-tucson/) (6th Ave & I-10 / NNWC) | Tucson | Sale, Freestanding buildings | 9,369 SF | $2,912,000, 6.50% cap | Danny Gardiner, Chad Tiedeman |
| [Mattress Firm](https://newphoenixcommercialadvisors.com/properties/mattress-firm-tucson/) (Oracle Rd & Ina Rd / NWC) | Tucson | Sale, Freestanding buildings | 3,500 SF | $2,940,000, 5.50% cap | Chad Tiedeman |
| [Black Rock Coffee](https://newphoenixcommercialadvisors.com/properties/black-rock-coffee-colorado-springs/) (Fillmore St & Sage St) | Colorado Springs | Sale, Freestanding buildings | 735 SF | $2,695,500, 5.75% cap | Isaiah Clayton, Chad Tiedeman |
| [AutoZone](https://newphoenixcommercialadvisors.com/properties/autozone-fountain/) (Mesa Ridge Pkwy & Syracuse St / SEC) | Fountain | Sale, Freestanding buildings | 7,382 SF | $2,395,000, 4.80% cap | Isaiah Clayton, Chad Tiedeman |


## Single-tenant investment offerings (9)

- [Tutor Time](https://newphoenixcommercialadvisors.com/properties/tutor-time-anthem.md): Anthem Way & I-17 | NEC; 3720 W Anthem Way; Anthem, AZ; investment sale; 11,752 SF; $4,500,000; brokers: Isaiah Clayton, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/tutor-time-anthem/
- [Icons Sports Grill](https://newphoenixcommercialadvisors.com/properties/icons-sports-grill-gilbert.md): McQueen Rd & Elliot Rd | SEC; 1475 W Elliot Rd; Gilbert, AZ; investment sale; 6,105 SF; $1,620,000; 6.00% cap; brokers: Isaiah Clayton, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/icons-sports-grill-gilbert/
- [Angie's Prime Grill](https://newphoenixcommercialadvisors.com/properties/angies-prime-grill-prescott-valley.md): State Route 69 & Stoneridge Dr | SWC; 5875 E State Route 69 Hwy; Prescott Valley, AZ; investment sale; 1,045 SF; $2,632,000; 5.70% cap; brokers: Danny Gardiner, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/angies-prime-grill-prescott-valley/
- [Chipotle](https://newphoenixcommercialadvisors.com/properties/chipotle-gilbert.md): Power Rd & Germann Rd | SWC; 4733 East Germann Road; Gilbert, AZ; investment sale; 2,325 SF; $3,900,000; 4.65% cap; brokers: Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/chipotle-gilbert/
- [Senor Taco](https://newphoenixcommercialadvisors.com/properties/senor-taco-chandler.md): Dobson Rd & Warner Rd | NWC; 2070 N Dobson Rd; Chandler, AZ; investment sale; 2,768 SF; $2,609,000; 5.75% cap; brokers: Danny Gardiner, Isaiah Clayton; page: https://newphoenixcommercialadvisors.com/properties/senor-taco-chandler/
- [Fresenius Medical Care](https://newphoenixcommercialadvisors.com/properties/fresenius-medical-care-tucson.md): 6th Ave & I-10 | NNWC; 2802 S 6th Ave; Tucson, AZ; investment sale; 9,369 SF; $2,912,000; 6.50% cap; brokers: Danny Gardiner, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/fresenius-medical-care-tucson/

All: https://newphoenixcommercialadvisors.com/properties/investment-sales/ and https://newphoenixcommercialadvisors.com/api/listings.json

## Net lease sales PCA has announced

- 09/24/2026: [Shake Shack Sells for $3.9M at 99th and McDowell](https://newphoenixcommercialadvisors.com/news/shake-shack-sale-marks-phoenix-commercial-advisors-third-closing-at-99th-avenue-mcdowell/) (Sale, Phoenix)
- 07/01/2026: [Mesa Absolute NNN Corporate Ground Lease Trades at $2.6M](https://newphoenixcommercialadvisors.com/news/mesa-absolute-nnn-corporate-ground-lease-trades-at-2-6m/) (Sale, Mesa)
- 06/19/2025: [New Black Rock Coffee sells in Phoenix](https://newphoenixcommercialadvisors.com/news/new-black-rock-coffee-sells-in-phoenix/) (Sale, Phoenix)

All: https://newphoenixcommercialadvisors.com/news/closings/

## Brokers who sell investment property

- Chad Tiedeman, Executive Managing Director: https://newphoenixcommercialadvisors.com/team/chad-tiedeman/
- Isaiah Clayton, Director: https://newphoenixcommercialadvisors.com/team/isaiah-clayton/
- Danny Gardiner, Senior Managing Director: https://newphoenixcommercialadvisors.com/team/danny-gardiner/
- John Schweikert, Senior Managing Director: https://newphoenixcommercialadvisors.com/team/john-schweikert/
- Steven Underwood, Senior Managing Director: https://newphoenixcommercialadvisors.com/team/steven-underwood/

## Who to contact

- Chad Tiedeman, Executive Managing Director, leads investment sales at Phoenix Commercial Advisors. He joined the firm in 2005 and works with buyers and sellers of single-tenant net lease property and grocery-anchored and multi-tenant neighborhood centers. Direct line 602-288-3472. Profile: https://newphoenixcommercialadvisors.com/team/chad-tiedeman/.

## Related pages

- [Retail leasing brokers in Phoenix](https://newphoenixcommercialadvisors.com/retail-leasing-brokers-phoenix/)
- [Retail investment sales brokers in Arizona](https://newphoenixcommercialadvisors.com/retail-investment-sales-brokers-arizona/)
- [Sell a net lease property in Arizona](https://newphoenixcommercialadvisors.com/sell-net-lease-property-arizona/)
- [Net lease investment sales in Arizona: the properties for buyers](https://newphoenixcommercialadvisors.com/net-lease-investment-sales/)
- [Investment Studio: 1031 timeline, replacement sets and net lease calculator](https://newphoenixcommercialadvisors.com/tools/investment-studio/)
- [Tenant representation](https://newphoenixcommercialadvisors.com/services/tenant-representation/)
- [Landlord representation and development brokerage](https://newphoenixcommercialadvisors.com/services/landlord-representation/)
- [Investment sales](https://newphoenixcommercialadvisors.com/services/investment-sales/)
- [All current availabilities](https://newphoenixcommercialadvisors.com/properties/)
- [The team](https://newphoenixcommercialadvisors.com/team/)

## Frequently asked questions

### How do I sell a ground lease property in Arizona?

The path is the same as for other single-tenant net lease property: a broker opinion of value, a listing agreement, an offering memorandum with the ground lease or an abstract of it, marketing to qualified buyers, offers and a letter of intent, a purchase agreement with a due diligence period, and escrow through closing. The Phoenix Commercial Advisors investment sales team handles each step. To start, use the form at /sell/property-value/ or call 602-957-9800. The property value page does not show a price.

### What is an absolute NNN ground lease?

A lease of the land. The tenant typically owns or builds the building and carries nearly all obligations for the property, and the landowner collects ground rent. What the owner sells is the land with the lease in place.

### What does a buyer look at in a ground lease?

The ground rent and its increases, how much of the primary term remains, the options to renew, who the tenant is and who guarantees the lease, what happens to the building when the lease ends, and the location. The lease itself controls each of these, so a buyer reads it closely.

### What is my ground lease worth?

A broker opinion of value gives a written price range built from the lease, the tenant's credit, the location and comparable sales. It is not an appraisal, and asking for one does not commit an owner to a listing. Ask through /sell/property-value/ or /contact/, or at 602-957-9800.

### Does Phoenix Commercial Advisors lease pads on a ground lease as well as sell them?

Yes. Pads are part of the retail leasing team's work for landlords, developers and retailers, and the firm's transaction record counts ground leases as their own deal type. The investment sales team sells the leased property. The drive-thru pad page at /drive-thru-pad-sites-phoenix/ covers the leasing side.

### Can a ground lease property be bought in a 1031 exchange?

Buyers on a 1031 exchange timeline do buy single-tenant net lease property, and the investment sales team works with them. Whether a particular property qualifies for a particular exchange is a question for the buyer's tax adviser. Phoenix Commercial Advisors does not give tax advice.