Overview

Description

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed Brakes Plus investment property located in Flagstaff, Arizona. The tenant, Brakes Plus LLC, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1990, Brakes Plus offers exceptional products and service to customers in over 100 locations across 6 states.

The subject property is strategically located near the signalized, hard-corner intersection of U.S. Highway 89 and E. Marketplace Dr., which averages a combined 36,700 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to U.S. Highway 180, a major thoroughfare averaging 66,400 vehicles per day. Furthermore, the asset is ideally situated as an outparcel to Flagstaff Mall, a 347,000+ SF mall which features a diverse range of tenants including Planet Fitness, Hobby Lobby, Dillard’s, Starbucks, Kay Jewelers, Goodwill, and many more. Flagstaff Mall benefits from excellent visibility and access via significant street frontage, a large monument sign, and multiple points of ingress/egress. Other nearby national/credit tenants include Safeway, The Home Depot, Old Navy, Marshalls, Chipotle, Savers, Family Dollar, and many more. Strong tenant synergy significantly increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 50,000 residents and 33,000 employees, providing a direct consumer base from which to draw. Residents within 3 miles of the subject property boast an affluent average household income of $98,850.

---