Tropical Smoothie Caf?|Jeremiah's Italian Ice 4676 E Grant Rd

Investment Highlights

Opportunity to purchase a single-tenant asset with a 10-year lease with (two 5-year) option periods to extend and 10% rent increase every five years. 4676 E Grant Road has an absolute triple net lease, meaning the tenant maintains all aspects of the premises and pays for taxes and insurance. Ideal dual-brand concept with Tropical Smoothie Caf? & Jeremiah's Italian Ice, creating customer traffic and demand throughout the day into the night. Landmark signalized location at one of the most identifiable corners in all of Tucson, benefitting from excellent visibility and access. Surrounding national/credit tenants include Starbucks, First Watch, Dutch Bros, Panda Express, Chipotle, Trader Joe's, Roadhouse Cinemas, & PetSmart. Owner/Agent: Arizona licensed real estate agent(s) or broker(s) at Volk Company have an ownership interest in this property

Executive Summary

VOLK Company is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a drive-thru Tropical Smoothie Caf? and Jeremiah's Italian Ice property at 4676 E Grant Road in Tucson, Arizona. The building has been newly remodeled as a Tropical Smoothie Caf? and Jeremiah's Italian Ice prototype, offering an absolute triple net lease with no landlord responsibilities. Tropical Smoothie Caf? is a 1,235-location, 31-year-old concept, and Jeremiah's Italian Ice is a 100-location, 28-year-old concept. The tenant, Patelbui6 LCC, signed a brand-new 10-year lease with two 5-year options to extend. The lease features 10% rental increases every five years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging inflation. 4676 E Grant Road is located on the southwest corner of Grant Road and Swan Road, one of Tucson's most identifiable hard corners. This intersection alone sees over 70,000 drivers daily and has an estimated 5-mile population density of 276,558. Nearby tenants in this strong central location include Dutch Bros Coffee, Walgreens, Fry's, Starbucks, Chipotle, Trader Joe's, and more. In the heart of Southern Arizona, Tucson is strategically positioned in the Sonoran Desert between Phoenix and Mexico along Arizona's Sun Corridor. Tucson has an expanding economy based on technology, tourism, education, and a growing entrepreneurial hub. Many large institutions in Tucson include Raytheon, Missile Systems, Davis Monthan Air Force Base, and the University of Arizona. With its low cost of living and educated workforce, Tucson has shown significant economic growth by expanding downtown areas and large new employers making commitments to the area.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Fast Food
• Building Size    2,232
• Building Class    C
• Year Built/Renovated    1973/2024
• Price    3,000,000
• Price Per SF    1,344
• Cap Rate    6.27
• NOI    188,000
• Percent Leased    100
• Tenancy    Multiple
• Building Height    1 Story
• Building FAR    0.05
• Land Acres    1.00 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.

• Bus Line
• Pylon Sign
• Signage
• Signalized Intersection
• Drive Thru