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3535 E Baseline RdGilbert, AZ 85234
Eegee's
Asset ClassRetail
Deal Size$2.7 M
Retail SF: 3,136Cap Rate: 5%Access Data Room
Free Standing QSR | Absolute NNN | Phoenix MSA
overview of deal

Overview

Price: $2,700,000 | Cap Rate: 5.00%

Lease Term: 15 Years

Lease Type: Abs. NNN Lease

Rent Commencement: 6/1/2021

Expiration Date: 5/31/2036

Rent Increases: 10% Every 5 Years

Options: 4 x 5-Years

Lease Guarantor: Corporate

Access the Data Room

Investment Highlights

FREE STANDING QSR IN PHOENIX MSA – EEGEE’S

  • Eegee’s has 11.25+ years remaining on an absolute triple-net with zero landlord responsibilities.
  • The Lease features 10% rental increases every five years as well as four five-year renewal options. There is a 10% base rent increase scheduled for 6/1/2026.

CORPORATE GUARANTY FROM EEGEE’S - ARIZONA BASED QSR CONCEPT

  • Eegee’s currently operates 30 locations throughout Phoenix & Tucson, AZ.
  • 39 North Capital and Kitchen Fund acquired Eegee’s in 2018 to expand from Tucson into the Phoenix Market.
  • Eegee’s menu focuses on their signature frozen drinks as well as their sub sandwiches.

ADJACENT TO 310K SF GROCERY ANCHORED SHOPPING CENTER

  • The subject property is across the street from Village Square at Dana Park, which is anchored by Phoenix based grocer, AJ’s Fine Foods.
  • This center ranks in the top 78th percentile of all community shopping centers in Arizona based on visits (Placer.ai).

DIRECT VISIBILITY ALONG E BASELINE RD & LOCATED IN QSR NODE

  • The subject property is just off the intersection of E Baseline Rd & N Val Vista Dr which sees a combined VPD of 67,000+ VPD.
  • Synergistic tenants surrounding the subject property include Chipotle, Starbucks, Circle K (adjacent), Taco Bell, Five Guys, Cafe Zupas, IHOP, and more.

AFFLUENT SURROUNDING DEMOGRAPHICS

  • Within a five-mile radius of the subject property, 361,191 people earn an average household income of $102,749. The immediate population within a one-mile radius of 14,648 earns$118,477 in AHHI.
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3535 E Baseline RdGilbert, AZ 85234

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
Ryan SarbinoffAZ Broker of Record

License #: BR675146000

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Listing provided by Revere CRE