Overview

Description

CHASE-JOHNSON COMMERCIAL is pleased to present 505 UNIVERSITY DRIVE for sale. This investment retail building is occupied by Gadzooks. The building is 2,342 square feet restaurant and on .26 acre of land. Award Winning Restaurant in Highly Sought after Downtown Tempe, AZ. 20 year NNN lease with 18 years of lease remaining. Zero Landlord Responsibilities. Lease guarantee from The Pool Real Estate, LLC. Adjacent to New 40,000 SF Whole Foods 365 Mixed Use Development. Large Daytime Employment Base Including State Farm’s Newly Developed Southwest Regional Headquarters which Employs Over 8,000 People. Minutes from ASU main Campus!

Rent Years 1-5 $11,650.00 month / Annual Rent $139,800.00
Rent Years 6-10 $12,815.00 month / Annual Rent $153,780.00
Rent Years 11-15 $14,096.50 month / Annual Rent $169,158.00
Rent Years 16-20 $15,506.15 month / Annual Rent $186,073.80

Highlights

• A FUTURE-FORWARD URBAN ENVIRONMENT
• Site of Novus Innovation Corridor: 330 acres in the Heart of Tempe
• 20 year NNN lease with Four (4), Five (5) Year Options to renew
• 10% rental increases Every Five Years
• Tenant has first Right of First Refusal (10 Days)

Documents

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