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4321 N Scottsdale Rd 9,551 SF 100% Leased Retail Building Scottsdale, AZ 85251 $10,944,013 CAD ($1,145.85 CAD/SF) 5.42% Cap Rate
INVESTMENT HIGHLIGHTS
- 1 of 4 Total Physical Barstool Locations Across the United States
- 10-year Initial Term w/ 2x 5-year Options to Extend
- Lease Began June 2022 & Initial Term Ends May 2032
- Absolute NNN Lease
- 3% Annual Increases
- ±9,551 SF Space (5,878 SF 1st Floor, 3,673 SF 2nd Floor)
EXECUTIVE SUMMARY
SVN Desert Commercial Advisors, as the sole representative of the Owner, is pleased to present for purchase this absolute NNN investment opportunity in the heart of Old Town Scottsdale. Occupied by Barstool Sports, on an initial ten-year lease the subject property represents a unique investment opportunity to qualified investors. As one of the four physical Barstool Sports locations (Barstool River North in Chicago, IL, Barstool Sansom Street in Philadelphia, PA, and Barstool Nashville in Nashville, TN are sister locations) the Scottsdale location operates as both a bar, restaurant and nightclub and lies in the northern pocket of Old Town Scottsdale, viewed by many as the epicenter of Old Town activity during both the day time and nighttime hours. The property is walkable to the W Scottsdale, The Remi Scottsdale, Scottsdale Fashion Square Mall, Scottsdale Waterfront and multiple other lifestyle and retail amenities. Further, the subject property lies within a qualified census tract for the Scottsdale opportunity zone, providing further investment opportunity for a buyer should they elect to substantially renovate the property further down the road. Barstool's initial lease commenced in June of 2022 and expires in May of 2032. They have two options to extend for a period of 5 additional years each. The subject property is currently offered at $7,840,000, representing a 5.25% CAP rate on 2025 income.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,551 SF
Building Class
B
Year Built/Renovated
1963/2007
Price
$10,944,013 CAD
Price Per SF
$1,145.85 CAD
Cap Rate
5.42%
NOI
$592,949 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.15
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
D/OC-2, Scottsdale - Commercial, D/OC-2
Parking
5 Spaces (0.52 Spaces per 1,000 SF Leased)
Frontage
62’ on Scottsdale
AMENITIES
- Bus Line
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $69,201 CAD | Total Assessment | $287,956 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$69,201 CAD
Improvements Assessment
$0 CAD
Total Assessment
$287,956 CAD
CONTACTS
-
Justin Horwitz -
Richard Lewis -
Sean Alderman -
Jillian Moyer -
SVN | Desert Commercial Advisors
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4321 N Scottsdale Rd
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