The Property
1927 E Crocus Dr
Phoenix, Arizona 85022
ABSOLUTE NNN SINGLE-TENANT INVESTMENT
5-Year Lease | Built-In Rental Growth | 7.96% Cap Rate
POSITIONING
Bond-Like Income Secured by Real Estate
• Absolute Triple Net Structure
• Newly Executed 5-Year Lease (Commencing 1/1/2026)
• Personal Guarantee
• Two 5-Year Options
• Built-In $100 Annual Monthly Increases
• First Right of Refusal
Asking Price: $850,000
EXECUTIVE SUMMARY
Gerchick Real Estate is pleased to present a fully stabilized Absolute NNN investment secured by a newly signed 5-year lease.
The tenant reimburses property taxes and insurance in addition to base rent creating predictable, passive income.
This opportunity delivers:
• Immediate cash flow
• Structured rent growth
• Minimal landlord responsibility
• Strong yield within the single-tenant SFR asset class
The value proposition is income-driven. This is not an owner-occupant comparable play — it is a yield acquisition.
FINANCIAL OVERVIEW
Year 1 Income
Base Rent: $5,200/month
NNN Reimbursements: $440.25/month
Total Monthly Income: $5,640.25
Annual Income: $67,683
Cap Rate Analysis
Purchase Price: $850,000
Year 1 Cap Rate:
$67,683 ÷ $850,000 = 7.96%
Forward Cap Rate Growth
| Year | Annual Income | Forward Yield |
|---|---|---|
| Year 1 | $67,683 | 7.96% |
| Year 2 | $68,883 | 8.10% |
| Year 3 | $70,083 | 8.24% |
| Year 4 | $71,283 | 8.39% |
| Year 5 | $72,483 | 8.53% |
By Year 5, yield increases to 8.53% on original cost basis.
5-Year Cash Flow Projection
Assuming purchase at $850,000 cash:
Total Projected 5-Year Gross Income:
$67,683
$68,883
$70,083
$71,283
$72,483
Total 5-Year Income: $350,415
This represents over 41% of purchase price returned in five years through income alone.
LEASE ABSTRACT SUMMARY
• Lease Commencement: January 1, 2026
• Primary Term: 5 Years
• Options: Two 5-Year Extensions
• Rental Increases: $100 per month annually
• Personal Guarantee
• First Right of Refusal
• Tenant Reimburses Taxes & Insurance
Structure: Absolute NNN
INVESTMENT THESIS
Why This Asset Performs
- High Yield Relative to Asset Class
- Predictable Rent Growth
- Personal Guarantee Reduces Risk
- Minimal Management Burden
- Inflation Hedge via Increases
- Strong Phoenix Location
- Cap Rate Compression Potential
- Income Secured by Real Estate
This structure appeals to private investors, 1031 exchange buyers, family offices, and yield-focused capital seeking stable returns without active management.
BUYER REQUIREMENTS
The Seller recognizes traditional residential appraisal methodology may not fully reflect the value of the contractual income stream.
All offers must:
• Be Cash OR
• Waive Appraisal Contingency
• Provide Proof of Funds
This is an income acquisition.
DISCLAIMER
All information contained herein has been obtained from sources deemed reliable but is not guaranteed. Buyer shall independently verify all information including, but not limited to, lease terms, rental income, expenses, property condition, zoning, square footage, and all other material facts. Gerchick Real Estate makes no warranties or representations as to the accuracy of the information provided. Buyer is advised to conduct their own due diligence and consult with appropriate legal, financial, and tax professionals prior to making any investment decision.
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
• Located in the Desirable Lookout Mountain Submarket of North Phoenix
• Affluent Residential Pocket with Strong Long-Term Homeownership Stability
• Minutes from Lookout Mountain Preserve & Trail System
• High Barriers to Entry Due to Established Neighborhood Build-Out
• Close Proximity to SR-51, Loop 101 & I-17 Transportation Corridors
• Strong Rental Demand Driven by North Phoenix Employment Nodes
• Surrounded by Established Retail, Dining & Daily-Needs Amenities
• Access to Highly Rated Public & Charter Schools
• Low Supply of Institutional-Grade NNN Assets in This Submarket
Area Amenities:
Strategically positioned in Phoenix, this property offers unparalleled convenience for residents and tenants alike. Within minutes, you’ll find grocery stores, boutique shopping, fitness centers, and a variety of dining options—from casual cafes to upscale restaurants. Parks, walking trails, and recreational spaces are nearby, providing a balanced lifestyle for families, professionals, and short-term rental visitors.
Entertainment Venues:
The area boasts vibrant entertainment opportunities, including theaters, live music venues, sports complexes, and cultural attractions. Residents can easily access Scottsdale’s nightlife, Downtown Phoenix’s arts district, and family-friendly attractions like museums and local festivals, ensuring there’s always something to do.
Transportation:
Commuting is effortless with easy access to major highways, including I-10 and Loop 202, connecting to the broader Phoenix metro area. Public transportation is within reach, including bus routes and nearby light rail stations. This prime location offers both convenience and connectivity, making it ideal for renters, travelers, and long-term residents.
Major Employers:
The Phoenix area is a hub for employment across healthcare, education, tech, and finance. Nearby employers include **Banner Health**, **Dignity Health**, **Intel**, **American Express**, **Wells Fargo**, **Arizona State University**, and **Honeywell**. These strong employment centers contribute to a stable rental demand and long-term growth potential for investors.
Investor Note:
Phoenix continues to see strong population and employment growth, with rising rents and demand for quality housing. This property is positioned to capitalize on long-term appreciation, rental income potential, and lifestyle appeal, making it an attractive addition to any investor’s portfolio.
$850,000
Sale Price
$62,400
NNN Rental Income
$5,350
NNN Reimbursements
$62,400
Net Operating Income
7.34%
Actual 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!
We‘d like to invite you to check out the additional photos we have uploaded to our website for our property. These photos offer a more detailed view of the property from various angles and perspectives, giving you a better understanding of its layout and features. Take a few moments to browse through these photos to see for yourself what our property has to offer. We believe that they will provide you with a better insight into our property. Thank you for considering this property, and please don’t hesitate to contact us if you have any questions.
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