Avondale Retail for Sale - Glendale
ARIZONA BROKER OF RECORD.... PRESCOTT COMMERCIAL - Matthew Fish ... License No. BR626105000
Faris Lee Investments is pleased to present the unique opportunity to acquire a two-tenant retail property located in the thriving Phoenix community of Avondale, Arizona. The asset is 100% occupied by Boot Barn, a national credit tenant, and OX Korean BBQ, with a $15M LLC guarantee, providing for ease of management and minimal landlord responsibilities. This offering represents a secure investment with strong, in-place cash flow from two tenants in a premier retail destination.
The property features a strong tenant lineup, led by Boot Barn, a publicly traded company (NYSE: BOOT). Boot Barn recently demonstrated its long-term commitment to this highly successful site by executing a 10-year lease extension and expanding its footprint by over 7,500 SF. This location’s proven success is evidenced by its ranking as the #2 most visited Boot Barn in Arizona as well ranking in the top 97% in the US per Placer.ai data. OX Korean BBQ is highly successful with multiple restaurant concepts including the adjacent Chinese Buffet w/sales over $15M annually. The investment offers a growing income stream and a hedge against inflation, with scheduled 10% rental increases from both tenants during their respective lease terms.
The subject property is ideally situated within Gateway Crossing (with annual visitor count over 4.5 Million), a dominant community shopping center that has historically maintained 100% occupancy with a roster of top-performing national retailers including Hobby Lobby, Best Buy, Old Navy, and Raising Cane’s. The site benefits from its location directly across from the 1 million-square-foot Gateway Pavilions regional center, anchored by Costco, Ross, Marshalls, and Harkins Theaters. Per Placer.ai, this premier center draws over 5.4 million annual visitors and ranks in the 99th percentile for community shopping centers nationwide (#10 of 7,209) and in Arizona (#2 of 168), providing exceptional daily-needs traffic to the area.
The property’s strategic location boasts high visibility and convenient access, with positioning adjacent to the on-ramp for the I-10 Freeway (216,000 VPD) and significant frontage on W McDowell Rd with over (80,000 VPD) at the intersection of N 99th Avenue and McDowell Rd. The immediate trade area is exceptionally dense, with a population of 338,600 people and an average household income of $93,120 within five miles. This market is poised for continued growth, with a strong development pipeline of over 15,000 new housing units under construction, ensuring an expanding consumer base. The combination of a committed national credit tenant, a prime location in a major retail corridor, and a high-growth market makes this an exceptional investment opportunity.
