Tucson, AZ - Los Bertos Mexican Food

3344 N. Oracle Road, Tucson, AZ

$837,000

Price

6.5%

Cap Rate

$54,434

NOI

Overview
Cap Rate
6.5%
NOI
$54,434
Building Size
3,202 sqft
Occupancy
100%
Year Built
1988
Description

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN, freestanding, drive-thru equipped Los Bertos investment property located in Tucson, Arizona. The tenant, Los Bertos, LLC, recently executed a brand new 11-year lease with 1 (5-year) option period to extend. The lease features rare 1.75% annual rental increases throughout the initial term and the option period, generating healthy NOI growth. The lease is personally guaranteed by a 3-unit operator and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment. Landlord recently completed more than $75,000 in improvements including parking lot repairs and resurfacing, a new roof, significant electrical upgrades (all new), new and improved signage program, and a fully renovated, best in class interior.

Los Bertos is strategically located on N. Oracle Road, averaging a combined 42,000 vehicles daily. The asset is less than 2 miles east of Interstate 10 (170,400 VPD), the primary north/south thoroughfare for the state of Arizona. The site is equipped with a drive-thru lane providing ease and convenience to customers. Los Bertos is ideally positioned near a dense retail corridor and within close proximity to several shopping centers including Tucson Mall (1,300,000 SF), Oracle Westmore Shopping Center (287,000 SF), and Tucson Place (230,000 SF). Nearby national/credit tenants include Walmart Supercenter, Best Buy, Target, LA Fitness, Sam’s Club, and more, increasing consumer draw and traffic to the trade area. Additionally, the restaurant is within a 5-mile radius of The University of Arizona (44,800+ student enrolled), and Banner - University Medical Center Tucson (649 beds), providing a strong customer base to draw from. The 5-mile trade area is supported by a dense population of over 246,000 residents and features an average household income of $61,347.


Location
Gallery