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4708 S 48th St 3,752 SF Retail Building Phoenix, AZ 85040 $4,410,048 CAD ($1,175.39 CAD/SF)

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Investment Highlights

Absolute NNN-style lease structure
High-visibility location experiencing almost 80,000 VPD at the intersection
Strategic regional access and connectivity to I-10, Loop 202, SR-143, Sky Harbor Airport, Tempe, and South Phoenix

Freestanding ±3,752 SF drive-thru building on ±0.84 acres
Dense employment and daytime population driver

Executive Summary

Lee & Associates is pleased to present an opportunity to acquire a freestanding, dark Pizza Hut drive-thru asset located at 4708 S. 48th Street in Phoenix, Arizona. Although Pizza Hut vacated the property on June 1, 2026, the tenant remains obligated and is currently fulfilling the lease obligations. Pizza Hut has approximately 5.56 years of remaining lease term, with the current term scheduled to expire on February 23, 2032. The lease is structured as an absolute NNN-style lease, with Tenant responsible for real estate taxes, CAM/CC&R charges, insurance, utilities, and broad maintenance obligations, including the building, roof, structure, systems, and related property components.
The property consists of a ±3,752 SF freestanding drive-thru building on approximately ±0.84 acres, with abundant parking, multiple access points, and strong visibility along 48th Street, which sees almost 80,000 vehicles per day. The asset sits in a dense South Phoenix office and industrial trade area with significant daytime population and immediate access to major transportation corridors including I-10, Loop 202, and SR-143. The combination of remaining lease income, tenant go-dark obligations, and flexible real estate fundamentals creates a compelling investment opportunity with future repositioning or owner-user potential.

Offering Memorandum

Property Facts

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Restaurant

Building Size

3,752 SF

Building Class

Year Built

2003

Price

$4,410,048 CAD

Price Per SF

$1,175.39 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.10

Lot Size

0.88 AC

Zoning

C2 - General Commercial

Parking

40 Spaces (10 Spaces per 1,000 SF Leased)

Frontage

143’ on S 48th St

Signage

Major Tenants

Accommodation and Food Services
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Pizza Hut began in 1958, when two brothers borrowed money from their mother to open a pizza place in Wichita, Kansas. The business grew from that single restaurant into a franchised brand with a broad menu centered on pizza, pasta, chicken wings, breadsticks, desserts, and delivery or carryout service. Pizza Hut later became part of Yum! Brands and continues to operate as a global restaurant system with a large franchise network across many markets. The company has also built a history around menu and service milestones, including early online ordering and signature products such as Stuffed Crust and Pan pizza.