Ojos Locos 9040 Black Canyon

Investment Highlights

20-Year Absolute Triple-Net (NNN) Lease: The lease commenced on July 2nd, 2021, and has ~18.5 years remaining Attractive Rental Increases: The lease features rare 2.00% annual rental increases Corporate Guaranty:The lease features a corporate guaranty from Crazy Eyes Holdings, LLC, the parent company of Ojos Locos

Executive Summary

Bang Realty is pleased to present the exclusive listing for an Ojos Locos Sports Cantina located at 9040 North Black Canyon Highway in Phoenix, Arizona. The subject property consists of approximately 7,385 rentable square feet and is situated on roughly 0.44 acres of land. The property features a 20-year absolute triple-net (NNN) lease that commenced on July 2nd, 2021. The current annual rent is $275,400 and the lease features rare two percent (2.00%) annual rental increases that will continue through four (4), five (5)-year options.*Rent based on 8/1/2023 Rental Increase of $280,908*

• Sale Type    Investment NNN
• Property Type    Retail Retail General Retail Restaurant Retail
• Building Size    7,385
• Building Class    B
• Year Built    2021
• Price    4,321,662
• Price Per SF    585
• Cap Rate    6.50
• NOI    280,908
• Percent Leased    100
• Building Height    1 Story
• Building FAR    0.39
• Land Acres    0.44 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.