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1430 S Power Rd
Mesa, AZ 85206
La-Z-Boy · Retail Property For Sale
Executive Summary
La-Z-Boy NNN Investment | 12-Year Lease | High-Traffic Mesa, AZ Location
La-Z-Boy Furniture Gallery (NYSE: LZB) sale-leaseback opportunity featuring a 21,539 SF freestanding retail asset in Mesa, AZ. The property is secured by a new 12-year absolute NNN lease with a corporate guarantee. The lease includes flat rent through the primary term and four (4) five-year renewal options with 5% increases. Positioned on a 1.77-acre, high-visibility corner site with over 220’ of frontage and 30,000+ VPD. La-Z-Boy has operated at this location for over 28 years and will complete a remodel as part of the transaction, further enhancing the property’s value.
La-Z-Boy Furniture Gallery (NYSE: LZB) sale-leaseback opportunity featuring a 21,539 SF freestanding retail asset in Mesa, AZ. The property is secured by a new 12-year absolute NNN lease with a corporate guarantee. The lease includes flat rent through the primary term and four (4) five-year renewal options with 5% increases. Positioned on a 1.77-acre, high-visibility corner site with over 220’ of frontage and 30,000+ VPD. La-Z-Boy has operated at this location for over 28 years and will complete a remodel as part of the transaction, further enhancing the property’s value.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
21,539 SF
Building Class
B
Year Built
1998
Price
$15,468,492 CAD
Price Per SF
$718.16 CAD
Cap Rate
6%
NOI
$928,109 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
1.77 AC
Zoning
C-2, Mesa
Parking
87 Spaces (4.04 Spaces per 1,000 SF Leased)
Amenities
- Drive Thru
Property Taxes
| Parcel Number | 141-54-036F | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $464,153 CAD |
Property Taxes
Parcel Number
141-54-036F
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$464,153 CAD
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