Enterprise Truck Rental 330 N 24th St 5 000 pi² Local d'activités Immeuble Phoenix, AZ 85008 2 504 026 $ CAD (500,81 $ CAD/pi²) 5,50% Taux de capitalisation

This offering presents an opportunity to acquire a single-tenant, absolute NNN leased property in Phoenix, Arizona, occupied by Enterprise Truck Rental. The tenant executed a 10-year lease commencing January 12, 2020, with two five-year renewal options and 3% annual rental increases, ensuring predictable income growth and a hedge against inflation. Current in-place rents are approximately 50% below today’s market value, and the listed sale price is estimated at 25% below comparable land values, creating a compelling investment scenario.
Enterprise has demonstrated a strong commitment to this location, investing over $700,000 in capital improvements, including new HVAC units, lighting, roof upgrades, and expanded overhead doors. The property sits on a signalized hard-corner intersection at Van Buren Street and 24th Street, offering excellent visibility to more than 40,000 vehicles daily. Its infill location provides immediate access to Loop 202, Interstate 10, and State Route 51, and is less than one mile from Phoenix Sky Harbor International Airport, which serves over 50 million annual travelers.
With a corporate-backed tenant, long-term lease structure, and significant tenant investment, this asset offers stable cash flow and long-term value in a high-demand urban corridor.