Price Adjustment-8939 N 8th St, Phoenix, AZ 85020-$1,625,000-Leased on a Master NNN Lease 8.03% Actual Cap Rate

8939 N 8th St, Phoenix, AZ 85020 $1,625,000-Leased on a Master NNN Lease 8.03% Actual Cap Rate Actual

Discover a compelling investment opportunity with a newly signed NNN absolute lease, offering stability and growth potential. Situated in a high-demand location, this property features:

Lease Details: A robust 5-year lease with built-in increases in years 2 through 5, ensuring predictable cash flow growth.
Tenant Reliability: A proven tenant known for exceptional property maintenance and consistent, on-time rent payments.
Triple Net Lease: Tenant responsible for taxes, insurance, and property maintenance, reducing landlord responsibilities and maximizing returns.
Options for Expansion: Two additional 5-year renewal options, providing long-term income security and flexibility.

Property Highlights:

Location: Strategically positioned in a thriving area known for its economic stability and growth potential.
Tenant Quality: Established tenant with a strong track record in property care and financial responsibility.
Investment Appeal: Ideal for investors seeking passive income with minimal management involvement and reliable returns.

Financial Snapshot:

Lease Rate: $10,500 per month with scheduled increases, enhancing cash flow over the lease term.
Cap Rate: 8.03% – A strong return on investment with steady, growing income.
Tenant Stability: Secure income stream backed by a reputable tenant committed to property upkeep and lease obligations.

Property Details:
– Comprehensive Renovation: Extensive upgrades position this building competitively in the rental market.
– Unit Mix:
– 6 Units: 1-bedroom apartments
– 2 Units: 2-bedroom, 1-bath apartments
– 1 Office Unit: Currently used as an office space, can be converted to a 1-bedroom apartment

Renovations & Upgrades:
– Apartment Upgrades (Rehabbed in 2024): Each of the 7 units has been thoughtfully updated, with bathroom renovations costing approximately $12,000 per unit.
– Office/Storage Space Addition: Added for approximately $100,000, this versatile space can serve multiple purposes.

Exterior Enhancements:
– Brick patio installed in 2019 ($15,000), featuring TV and power outlets.
– Security gate added in 2015 ($5,000).
– New brick wall for added privacy ($5,000).
– New mailboxes installed in August 2024 ($500).

Property Features:
– On-site laundry facility
– Two storage units included
– Tenant amenities such as microwaves, refrigerators, and stoves in all units
– Gated property for security and privacy
– Currently leased in a Master Lease on an Absolute NNN Lease

Buyer Information:
Buyer to verify all facts and figures.
There is NO SELLER CARRY

Act Now: Don’t miss out on this opportunity to secure a stable, long-term investment with an attractive 8.03% cap rate. Contact us today to learn more and explore this exclusive NNN lease opportunity.

Virtual Tour-Check it out!

If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?

Location

Sunnyslope, a vibrant neighborhood in Phoenix, AZ, offers a compelling blend of residential charm, strong employment opportunities, and convenient access to urban amenities. Located in the northern part of the city, Sunnyslope is known for its diverse housing options and its welcoming community atmosphere.

One of the key advantages of living in Sunnyslope is its proximity to **John C. Lincoln Hospital**, a major healthcare facility that serves as a significant employment hub in the area. The hospital not only provides a wide range of medical services but also supports numerous jobs in the healthcare sector, making it an important economic anchor for the community.

For outdoor enthusiasts, **North Mountain Park** is a major highlight of the Sunnyslope area. Just a short drive away, this expansive park offers ample opportunities for recreation, including hiking, mountain biking, and bird watching. The park’s trails traverse scenic desert landscapes and provide stunning views of the Phoenix skyline, making it a favorite destination for those who enjoy nature and outdoor activities.

Additionally, Sunnyslope benefits from its excellent connectivity to downtown Phoenix. Residents can easily commute to the city’s central business district via **State Route 51 (the Piestewa Freeway)**. This major highway provides a direct and efficient route, allowing for a quick drive to downtown Phoenix where a range of job opportunities, dining, shopping, and cultural attractions await. The ease of access to downtown makes Sunnyslope an ideal location for professionals who need to commute to the heart of the city while still enjoying the tranquil, community-oriented lifestyle of the neighborhood.

The combination of strong local employment opportunities, convenient access to urban amenities, and proximity to outdoor recreation makes Sunnyslope a highly desirable place to live in Phoenix.

$1,625,000

Sale Price

$126,000

Base Rent Lease

$5,140.00

NNN Reimbursement

$131,140

NNN Income including Rent and NNN Reimbursements

8.03%

NNN Cap Rate

Offering Memorandum and Marketing Flyer

To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.

Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.

If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.

Thank you for considering our investment opportunity, and we hope to hear from you soon!

One Page Flyer-Check it out Offering Memorandum-Check it out!