Who can sell my net lease property in Arizona?

The short answer

Net lease is a lease structure, not a license, so a net lease property in Arizona can be sold by any licensed broker. This page states what Phoenix Commercial Advisors (PCA) does for an owner who wants to sell. PCA is a retail-only commercial real estate brokerage in Phoenix, founded in 1996. Its investment sales team sells single-tenant net lease retail and absolute NNN ground leases, and also multi-tenant retail and shopping centers.

This page is for the seller. If you are looking to buy a net lease property, the net lease buyers page shows the current offerings and how a buyer gets financials.

How a single-tenant net lease sale runs

1. A broker opinion of value. A written estimate of the price range the property is likely to sell for. It is not an appraisal, and it does not commit you to anything. Start at What is my property worth?. That page does not show a price.
2. A listing agreement. If you decide to go ahead, the price, the marketing period and the fee are agreed in writing before the property is offered.
3. The offering package. An offering memorandum, the lease or a lease abstract, a rent ledger and the supporting documents, assembled so a buyer can underwrite quickly.
4. Marketing. PCA markets investment property to a national buyer database, and also works with buyers on a 1031 exchange timeline. The listing appears on investment sales with its public facts; documents go only to people who ask.
5. Offers and a letter of intent. The team presents offers, advises on terms and negotiates the letter of intent.
6. Purchase agreement and due diligence. The buyer reviews the lease, financials, title and the property. The length of this period is set in the contract.
7. Escrow and closing. The team manages the process through to the close.

What is my net lease property worth?

The value of a single-tenant net lease property is mostly the value of its lease. A broker opinion of value looks at:

• The rent and its increases, and how much of the primary term remains.
• 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 lease type. Single net, double net, triple net (NNN) and absolute NNN put different obligations on the landlord, and a ground lease leaves the tenant owning the building.
• The location and the building: traffic, trade area, age and condition.
• Comparable sales of similar property.

The current offerings below publish an asking price and a cap rate each. 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 cap rate on one property says little about another with a different lease. To get a number for your property, start at What is my property worth?, contact the office, choose Owner considering a sale, or call 602-957-9800. The property value page does not show a price.

How long does it take?

PCA does not publish an average time to sell, and this page does not invent one. What moves the timeline is written into the deal: pricing against the market, the term left on the lease, the tenant's credit, the buyer's financing and the due diligence period in the purchase agreement. A buyer using a 1031 exchange is working to federal deadlines of 45 days to identify replacement property and 180 days to close, which is one reason some buyers move quickly; their tax adviser sets the details. Ask the team how comparable offerings have moved.

What buyers ask for, and who sees it

A buyer of a net lease property asks for the offering memorandum first, then the lease, the rent roll or rent ledger, and later the tenant's financials, estoppels, title and environmental reports. Offering documents are never posted on the open web. On a PCA listing they sit in a document vault with four levels, and the seller's property gets the level its document type earns:

For a single-tenant property the defaults are:

A property marked confidential raises each document by one level. A buyer's broker names the buyer they represent and the buyer's entity. Every role accepts the same agreement. Every request is recorded, and PCA can export the record of who asked for what, and when, for a seller.

What can be checked

• Current book. 20 investment offerings are listed as of 11/11/2026; 9 of them are single-tenant.
• Published pricing. Of the 9 single-tenant offerings, 8 publish a cap rate; the published rates run from 4.65% to 6.50%.
• Volume. Over $2.5 billion of retail investment property sold across 430+ closings, as the firm reports.
• Closings announced. The net lease sales below link to the property and to the brokers who closed them; all of them are on the closing announcements page.
• Focus. A retail-only brokerage since 1996.

Terms, in plain words

• Net lease. The tenant pays rent plus a share of property expenses. How much depends on the lease: single net, double net, triple net (NNN) or absolute NNN.
• Absolute NNN ground lease. The tenant leases the land, and typically owns or builds the building and carries nearly all obligations.
• 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.
• 1031 exchange. A federal tax rule that lets a seller defer tax by buying replacement property within set deadlines. PCA does not give tax advice.

Start

Contact the office and choose Owner considering a sale, or call 602-957-9800. A broker from the investment sales team replies.

Every offering in this group