CRE Buyers List 2K-6K Retail - Marvin

Sale Comp - Summary Report
1343 S Gilbert Rd
Mesa, AZ 85204 - Red Mountain/Mesa Submarket
TRANSACTION DETAILS
Sale Date Dec 29, 2023
Sale Price $3,106,796
Asking Price $3,106,796
On Market 70 Days
Price/SF $1,545.67
Actual Cap Rate 5.15%
Hold Period 83 Months
Sale Type Investment
Document # 0022157
Price Status Confirmed
Comp Status Research Complete
Comp ID 6616284
BUILDING LAND
Type 2 Star Retail Fast Food Land Acres 1.23 AC
Location Suburban Bldg FAR 0.04
GLA 2,010 SF Zoning C-2, Mesa
Floors 1 Parcels 140-61-164E
Typical Floor 2,010 SF Land SF 53,579 SF
Class C
Construction Masonry
Year Built 2022
Tenancy Single
Owner Occup No
Elevators None
Number of Tenants At Sale 1
C-2, Mesa
BUYER & SELLER CONTACT INFO

Recorded Buyer Poshh 1343 LLC Recorded Seller Global New Millennium Partners, Ltd.
True Buyer Cook Realty & Investments, Inc True Seller Dhanani Group
Shannon Cook Jimmy Wachaa
(623) 551-9667 (p) (281) 201-2700 (p)
Buyer Type Private Equity
Marcus & Millichap Seller Type Institutional
Buyer Broker
(310) 909-5500 (p) Listing Broker Marcus & Millichap
(310) 909-5500 (p)
2024 CoStar Group - Licensed to NNN Investments Consultants LLC - 1449568 3/6/2024
Page 1
1343 S Gilbert Rd
TRANSACTION NOTES
The Dhanani Group sold this 2,010 square foot retail property to Cook Realty & Investments, Inc. for $3,106,796 or approximately $1,545,67 in a
triple net investment sale. At the time of closing the property was 100% occupied by a Popeyes branch.
The property was on market for 80 days with the property closing at the initial asking price of $3,106,796.
The in-place NOI for 2023 was reported to be $160,000 yielding an actual cal rate of 5.15%.
The information in the comparable has been verified by sources deemed reliable.
AMENITIES
• Pylon Sign
SALE HISTORY
Sale Date Price Sale Type Buyer Seller
Dec 2023 $3,106,796 ($1,545.67/SF) Individual Property Cook Realty & Investments, Inc Dhanani Group
Jan 2017 $825,000 ($410.45/SF) Individual Property Dhanani Group Marion Yasui
Jan 1995 $865,000 ($430.35/SF) Individual Property K&HT Corp. The Boyd Family Trust
KEY TENANTS AT SALE
Tenant Industry Floor SF Occupied Exp Date

Popeyes 1 2,010 May 2042
MARKET AT SALE
Vacancy Rates 2023 Q4 YOY Change
Subject Property 0.0% 0.0%
Submarket 1-3 7.1% -0.8%
Market Overall 4.4% -0.8%
Market Asking Rent Per Area YOY Change
Subject Property $13.42/SF 6.3%
Submarket 1-3 $19.31/SF 9.5%
Market Overall $24.57/SF 9.4%
Submarket Leasing Activity Prev Year
12 Mo. Leased 806,639 SF 5.0%
Months on Market 15.4 -3.4 mo
Submarket Sales Activity 2023 Q4 Prev Year
12 Mo. Sales Volume (Mil.) $194.37M $494.35M
Market Sale Price Per Area $233/SF $180/SF
Page 2
1343 S Gilbert Rd
LOCATION TRANSPORTATION
Zip 85204 Airport 20 min drive to Phoenix–Mesa Gate-
way Airport
Submarket Red Mountain/Mesa
Walk Score Somewhat Walkable (67)
Submarket Cluster East Valley
Transit Score Some Transit (36)
Market Phoenix
County Maricopa
State AZ
CBSA Phoenix-Mesa-Scottsdale, AZ
DMA Phoenix, AZ
Page 3
1343 S Gilbert Rd
NEARBY SALE COMPARABLES

Address Name Rating Yr Blt/Renov Size Sale Date Sale Price Price/SF
Sec McQueen Rd & 2021 2,094 SF Mar 2022 $3,067,000 $1,464.66
Guadalupe Rd
68 E Main St Jimmy John's 1991 2,401 SF Apr 2022 $3,500,000 $1,457.73
15 E Guadalupe St Starbucks 2022 2,750 SF May 2022 $3,775,000 $1,372.73
1877 N Arizona Ave 2022 3,300 SF Sep 2022 $4,000,000 $1,212.12
1140 E Baseline Rd 2023 3,751 SF Sep 2022 $3,750,000 $999.73
2120 E Baseline Rd Jack in the Box 1984 3,027 SF Mar 2023 $2,222,450 $734.21
2010 E Brown Rd 1970 1,824 SF Apr 2023 $1,070,000 $586.62
4354 E Baseline Rd 1998 2,944 SF May 2023 $3,500,000 $1,188.86
686 South Gilbert Road Lowes Shopping Center 2022 1,500 SF Jul 2023 $3,750,000 $2,500.00
5205 Baseline Rd Chick-fil-A 2023 2,838 SF Aug 2023 $4,200,000 $1,479.92
1205 N Country Club Dr Wendy's 1979 3,200 SF Sep 2023 $2,275,000 $710.94
2721 E McKellips Rd 2023 1,887 SF Oct 2023 $2,636,000 $1,396.93
Page 4
5105 S Power Rd - Black Rifle Coffee
Mesa, AZ 85212 - Gateway Airport Submarket
TRANSACTION DETAILS
Sale Date Dec 27, 2023
Price Discount $140,000 (4%)
On Market 63 Days
Price/SF $1,137.50
Leased at Sale 100%
Document # 0656838
Comp ID 6606921
BUILDING LAND
Type 3 Star Retail Restaurant (Neighbor- Land Acres 0.90 AC
hood Center)
Bldg FAR 0.07
Location Suburban
Zoning Commercial
GLA 2,800 SF
Parcels 304-30-073
Floors 1
Land SF 39,204 SF
Typical Floor 2,400 SF
Class B
Year Built 2023
Tenancy Single
Commercial

Recorded Buyer Overland Leasing LLC Recorded Seller Power 202 Mixed-Use LLC
True Buyer DATS Trucking, Inc. True Seller VIVO Partners
Don Ipson Devan Wastchak
(435) 673-1886 (p) (602) 393-9370 (p)
Buyer Type Institutional
No Buyer Broker on Deal Listing Broker CBRE
Buyer Broker
(602) 735-5555 (p)
TRANSACTION NOTES
Page 5
VIVO Partners sold the 2400-square-foot retail building at 5105 S Power Rd to a private entity for $3,185,000 or $1,327 per-square-foot. It had a
4.71% cap rate at the time of sale, and is fully leased to Starbucks. The listing brokerage confirmed the details of the sale.
INCOME & EXPENSES
Net Operating Income $150,013 $53.58

Capital Expenditures - -
Debt Service - -
Cash Flow $150,013 $53.58
KEY TENANTS AT SALE

Black Rifle Coffee Retailer 1 2,400 -
MARKET AT SALE
Subject Property 0.0%
Submarket 2-4 3.9% 1.7%
Submarket 2-4 $27.94/SF 9.8%
12 Mo. Leased 44,918 SF -71.7%
Page 6
way Airport
Submarket Gateway Airport
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 7

5427 S Power Rd Whataburger 2022 3,746 SF Mar 2022 $3,549,613 $947.57
6538 E Superstition Springs 2007 5,581 SF Mar 2022 $4,200,000 $752.55
Blvd
5129 S Power Rd Raising Cane's Chicken 2021 4,000 SF Apr 2022 $3,288,000 $822.00
Fingers
2525 Val Vista Brakes Plus 2022 4,975 SF May 2022 $3,350,000 $673.37
7260 S Power Rd Circle K 2008 4,400 SF Jun 2022 $6,050,000 $1,375.00
6810 E Guadalupe Rd Shell 2000 5,276 SF Jun 2022 $2,350,000 $445.41
SEC Ray & Ellsworth Rd 2022 1,960 SF Aug 2022 $2,941,000 $1,500.51
3720 S Val Vista Dr QuikTrip 2013 5,000 SF Aug 2022 $6,570,000 $1,314.00
6807 E Baseline Rd Shops at Power & Baseline 2016 3,800 SF Aug 2022 $4,600,000 $1,210.53
9113 E Guadalupe Rd Jack In the Box 2020 2,739 SF Jan 2023 $3,475,000 $1,268.71
8830 E Germann Rd Baci Italian Bistro 2007 5,123 SF Mar 2023 $2,300,000 $448.95
2831 S Ellsworth Rd Chase Bank 2004 4,060 SF Sep 2023 $1,800,000 $443.35
5033 S Power Rd Habit Burger 2023 3,010 SF Nov 2023 $2,950,000 $980.07
10720 E Elliot Rd Black Rock Coffee Bar 2024 1,990 SF Jan 2024 $2,125,000 $1,067.84
Page 8
2103 W Guadalupe Rd - TitleMax
Mesa, AZ 85202 - Chandler Submarket
TRANSACTION DETAILS
Sale Date Sep 20, 2023
On Market 72 Days
Price/SF $342.59
Financing 1st Mortgage: Desert Financial Fed-
eral Credit Union
Bal/Pmt: $610,500/-
Document # 0492631
Comp ID 6515986
BUILDING LAND
GLA 3,240 SF Zoning C-2, Mesa
Floors 1 Parcels 302-86-518
Typical Floor 3,240 SF Dimensions 126' x 170'
Class B Land SF 21,424 SF
Year Built 1988; Renov 1991
Tenancy Single
C-2, Mesa

Recorded Buyer TitleMax Mesa LLC Recorded Seller Gabriel & Christina Wall
True Buyer STRATEN MANAGEMENT GROUP True Seller Gabriel & Christina Wall
Shan Patel Gabriel Wall
Buyer Type Private Equity (206) 412-5790 (p)
Buyer Broker Cardon Commercial Seller Type Private Equity

(602) 334-8546 (p) Listing Broker Echo West Capital Advisors
(602) 330-8497 (p)
Page 9
TRANSACTION NOTES
On September 20th 2023 this 3,240 square foot retail property sold for $1,110,000.
INCOME & EXPENSES

Debt Service - -
Cash Flow $61,050 $18.84
SALE HISTORY
Sep 2023 $1,110,000 ($342.59/SF) Individual Property STRATEN MANAGEMENT GROUP Gabriel & Christina Wall
Mar 2015 $653,000 ($201.54/SF) Individual Property* Gabriel & Christina Wall R U B LLC
Apr 2010 $500,000 ($154.32/SF) Individual Property R U B LLC Wisconsin Custard Partners, LLC
Apr 2002 $730,000 ($225.31/SF) Individual Property Bankim & Nita Shah Mahesh Gogri
Dec 2001 $730,000 ($225.31/SF) Individual Property Mahesh Gogri The Dybvig Family Trust
Sep 1998 $875,000 ($270.06/SF) Individual Property R. Stanley Dybvig C-20 Rodriguez
KEY TENANTS AT SALE

Titlemax Title Loans 1 3,240 Feb 2018
MARKET AT SALE
Submarket 2-4 4.2% -0.8%
Submarket 2-4 $24.88/SF 8.5%
12 Mo. Leased 508,452 SF -0.7%
Page 10
Zip 85202 Parking 25 available (Surface);Ratio of
7.72/1,000 SF
Submarket Chandler
Airport 19 min drive to Phoenix Sky Harbor
Submarket Cluster East Valley International Airport
Market Phoenix Walk Score Somewhat Walkable (56)
County Maricopa Transit Score Some Transit (29)
State AZ
DMA Phoenix, AZ
Page 11

Guadalupe Rd
1210 W Guadalupe Rd 7-Eleven 1979 2,400 SF Mar 2022 $1,625,000 $677.08
1415 W Elliot Rd Taco Bell 1995 3,500 SF May 2022 $4,500,000 $1,285.71
620 W Baseline Rd 2022 2,230 SF Aug 2022 $2,910,000 $1,304.93
6470 S Mcclintock Dr 1980 5,990 SF Jul 2022 $2,195,000 $366.44
1877 N Arizona Ave 2022 3,300 SF Sep 2022 $4,000,000 $1,212.12
2030 E Elliot Rd 2015 3,669 SF Oct 2022 $3,120,000 $850.37
4989 W Ray Rd Angie's Lobster 1997/2010 2,971 SF May 2023 $2,000,000 $673.17
1440 W Southern Ave Carl's Jr/green Burrito 1985 4,193 SF Sep 2023 $1,765,000 $420.94
1305 S Alma School Rd Verizon 2017 4,000 SF Nov 2023 $3,300,000 $825.00
Page 12
1205 N Country Club Dr - Wendy's
TRANSACTION DETAILS
Sale Date Sep 19, 2023
On Market 314 Days
Price/SF $710.94
Pro Forma Cap 4.75%
Leased at Sale 100%
Document # 0489390
Comp ID 6513647
BUILDING LAND
GLA 3,200 SF Zoning C-C
Floors 1 Parcels 137-21-014J
Class B
Year Built 1979
Tenancy Single
Owner Occup No
C-C

Recorded Buyer 5901 South May Llc Recorded Seller 1100 Morris Avenue Llc
True Buyer William T Kritikos True Seller James and Maria Emiliani
William Kritikos Maria Emiliani-Galasso
(510) 655-0111 (p) (973) 560-9200 (p)
Buyer Type Private Equity Seller Type Private Equity
Buyer Broker No Buyer Broker on Deal Listing Broker Retail Investment Group, LLC
(480) 429-4580 (p)
Page 13
TRANSACTION NOTES
On September 19th, 2023, 1100 Morris Ave LLC sold this retail building in Mesa, AZ, to 5901 South May LLC for $2,275,000. This is a Wendy’s
restaurant located at 1205 N Country Club Dr and totals 3,200 square feet, equating to a sales price of $710.94 per square foot.
This was a triple net investment transaction carrying a final cap rate of 5.03%, and was also a 1031 exchange. Steven Davis and Mark McLoone of
Retail Investment Group, LLC represented the seller.
The information in this sales comparable was confirmed with reliable sources on both sides of the transaction, as well as verified by the public record
of Maricopa County and the State of Arizona.
SALE HISTORY
Sep 2023 $2,275,000 ($710.94/SF) Individual Property William T Kritikos James and Maria Emiliani
Oct 2021 $2,755,000 ($860.94/SF) Individual Property James and Maria Emiliani Hinkson Company, LLC
Sep 2020 $3,850,000 ($1,203.13/SF) Individual Property Hinkson Company, LLC LKY Development Company, Inc.
KEY TENANTS AT SALE

Wendy's 1 2,816 -
MARKET AT SALE
Submarket 2-4 6.9% -1.8%
Submarket 2-4 $19.60/SF 9.0%
12 Mo. Leased 724,649 SF -9.5%
12 Mo. Sales Volume (Mil.) $237M $485.46M
Page 14
6.88/1,000 SF
Airport 18 min drive to Phoenix Sky Harbor
Submarket Cluster East Valley International Airport
Market Phoenix Walk Score Somewhat Walkable (59)
State AZ
DMA Phoenix, AZ
Page 15

1242 W University Dr 1961 2,470 SF Jun 2022 $1,475,000 $597.17
1063 E McKellips Rd Kindercare Learning Center 1989 6,223 SF Sep 2022 $2,400,000 $385.67
1115 W Main St 1962 5,195 SF Jan 2023 $1,300,000 $250.24
636 N Country Club Dr 1973 4,171 SF Mar 2023 $1,100,000 $263.73
1957 N Country Club Dr Whataburger 2023 2,974 SF Jun 2023 $3,110,000 $1,045.73
406 N Country Club Dr Site #5435 1987 2,532 SF Jul 2023 $1,275,000 $503.55
117 S Country Club Dr 1935 2,779 SF Jul 2023 $899,942 $323.84
340 W Brown Rd 1972 2,781 SF Aug 2023 $1,000,000 $359.58
1151 W University Dr 2005 4,301 SF Sep 2023 $1,000,000 $232.50
62 S Center St Retail/Restaurant Space in 1952 6,356 SF Sep 2023 $1,900,000 $298.93
Downtown Mesa
259 W 1st Ave 1989 3,379 SF Oct 2023 $825,000 $244.16
1609 W University Dr 1960 3,753 SF Dec 2023 $980,000 $261.12
354 N Country Club Dr 2003 5,811 SF Feb 2024 $2,400,000 $413.01
1145 W Main St 1989 2,952 SF Feb 2024 $1,577,733 $534.46
Page 16
1957 N Country Club Dr - Whataburger
TRANSACTION DETAILS
Sale Date Jun 7, 2023
On Market 188 Days
Price/SF $1,045.73
Leased at Sale 100%
Document # 20230298574
Comp ID 6419508
BUILDING LAND
GLA 2,974 SF Zoning LC
Floors 1 Parcels 136-28-300E
Class B
Year Built 2023
Tenancy Single
Owner Occup No
LC

Recorded Buyer Dotte Enterprises, LLC Recorded Seller Boardwalk Equitities, LLC
True Buyer D Moe True Seller Glenwood Development Company
D Moe Bradley Forsgren
(562) 276-8056 (p) (480) 775-4650 (p)
No Buyer Broker on Deal Listing Broker Velocity Retail Group
Buyer Broker
(602) 682-8100 (p)
TRANSACTION NOTES
Page 17
On June 7th, 2023; the 2,974 SF Whataburger at 1957 N Country Club Dr sold for $3,110,000, or, $1,046 per SF for this investment NNN sale. The
class B property was built in 2023 and zoned LC for limited commercial. The in-place cap rate at the time of the sale was 4.34%, yielding an NOI of
$135,000. The details of this transaction were solely verified by public records and details from the listing agents materials.
INCOME & EXPENSES AMENITIES
Net Operating Income $135,000 $45.39 • Signage • Drive Thru

Capital Expenditures - - • Air Conditioning
Debt Service - -
Cash Flow $135,000 $45.39
MARKET AT SALE
Submarket 3-5 7.1% -2.5%
Submarket 3-5 $20.10/SF 9.3%
12 Mo. Leased 736,765 SF -15.4%
Page 18
Zip 85201 Parking 11 available (Surface);
Submarket Red Mountain/Mesa Airport 15 min drive to Phoenix Sky Harbor
International Airport
Walk Score Car-Dependent (45)
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 19

1331 N Scottsdale Rd 2022 2,053 SF Mar 2022 $3,640,000 $1,773.02
2653 E McKellips Rd 2017 3,006 SF Sep 2022 $15,396,285 $5,121.85
2309 E University Dr Am/Pm 1986 2,499 SF Mar 2023 $2,250,000 $900.36
2120 W Southern Ave 1977/2019 1,545 SF Jun 2023 $850,000 $550.16
2721 E McKellips Rd 2023 1,887 SF Oct 2023 $2,636,000 $1,396.93
1305 S Alma School Rd Verizon 2017 4,000 SF Nov 2023 $3,300,000 $825.00
1145 W Main St 1989 2,952 SF Feb 2024 $1,577,733 $534.46
Page 20
1502 Signal Butte
TRANSACTION DETAILS
Sale Date May 9, 2023
On Market 69 Days
Price/SF $684.11
Document # 20230243936
Comp ID 6390448
BUILDING LAND
Type 3 Star Retail Land Acres 1.23 AC
Year Built 2023
Tenancy Single
LC

Recorded Buyer 1502 Signal Butte Road LLC Recorded Seller Signal Butte Hampton Mesa AZ LLC
True Buyer 1502 Signal Butte Road LLC True Seller Thompson Thrift
Marsha Chapin Tim Fears
(714) 717-8630 (p) (800) 687-0012 (p)
No Buyer Broker on Deal Listing Broker Phoenix Commercial Advisors
Buyer Broker
(602) 957-9800 (p)
TRANSACTION NOTES
On May 9th, 2023, 3,267 SF retail space at 1502 Signal Butte in Mesa, AZ sold for $2,235,000. The tenant is slated to be Raising Cane's.
The details of this transaction were verfied with a source deemed reliable
Page 21
1502 Signal Butte
MARKET AT SALE
Submarket 2-4 6.7% -2.3%
Submarket 2-4 $19.18/SF 9.2%
12 Mo. Leased 736,765 SF -15.4%
Page 22
1502 Signal Butte
way Airport
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 23
1502 Signal Butte

11310 E Apache Trl 1900 2,831 SF Jun 2022 $1,053,000 $371.95
1125 S Signal Butte Rd 2021 4,000 SF Jul 2022 $5,500,000 $1,375.00
11301 E Apache Trail St 1958 2,957 SF Jul 2022 $800,000 $270.54
1245 S Crismon Rd 2017 4,175 SF Aug 2022 $6,969,000 $1,669.22
300 S Phelps Dr 2000 6,054 SF Sep 2022 $3,350,000 $553.35
11343 E Apache Trl 1968 2,781 SF Feb 2023 $885,000 $318.23
1106 S Signal Butte Rd Brakes Plus 2012 4,213 SF Jun 2023 $2,206,000 $523.62
9772 E Main St 1973 3,219 SF Oct 2023 $1,350,000 $419.38
10111 E Apache Trl 2008 1,839 SF Nov 2023 $760,000 $413.27
10720 E Elliot Rd Black Rock Coffee Bar 2024 1,990 SF Jan 2024 $2,125,000 $1,067.84
Page 24
2120 E Baseline Rd - Jack in the Box
TRANSACTION DETAILS
Sale Date Mar 16, 2023
On Market 84 Days
Price/SF $734.21
Leased at Sale 100%
Hold Period 20+ Years
Document # 20230140581
Price Status Full Value
Comp ID 6340760
BUILDING LAND
Type 3 Star Retail Fast Food (Neighbor- Land Acres 0.68 AC
hood Center)
Bldg FAR 0.10
Location Suburban
Zoning C-C
GLA 3,027 SF
Parcels 140-62-303A
Floors 1
Land SF 29,551 SF
Typical Floor 3,027 SF
Class B
Year Built 1984
Tenancy Single
Owner Occup No
C-C

Recorded Buyer Lnstone Property, LLC Recorded Seller Larri Ellen Seltzer Robinson, Trustee
True Buyer Yellow Rocks Marketing LLC True Seller Jack In The Box
Guorjer Huang Armen Aghadjanian
(626) 454-3210 (p) (858) 571-2121 (p)
Buyer Type Institutional
No Buyer Broker on Deal Seller Type Institutional
Buyer Broker
Listing Broker Kidder Mathews
(602) 513-5200 (p)
Page 25
TRANSACTION NOTES
On the 16th of March the property at 2120 E Baseline Rd was sold for $2,222,450. The information for this sale was verified using public record
documents from Maricopa county and the state of Arizona.
INCOME & EXPENSES
Revenue 2023 Per SF

Gross Income $108,900 $35.98
Other Income - -
Vacancy - -
Effective Gross Income $108,900 $35.98

Debt Service - -
Cash Flow $108,900 $35.98
KEY TENANTS AT SALE

Jack In The Box 1 2,800 -
MARKET AT SALE
Submarket 2-4 7.2% -1.5%
Submarket 2-4 $18.71/SF 8.1%
12 Mo. Leased 761,893 SF -9.8%
Page 26
way Airport
Walk Score Very Walkable (79)
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 27

Guadalupe Rd
658 S Gilbert Rd 2019 5,000 SF Mar 2022 $4,070,000 $814.00
15 E Guadalupe St Starbucks 2022 2,750 SF May 2022 $3,775,000 $1,372.73
1417 W Elliot Rd Parkway Bank 3,717 SF Oct 2022 $1,395,000 $375.30
1320 N Acacia Dr 2002 2,832 SF Jun 2023 $1,000,000 $353.11
1343 S Gilbert Rd 2022 2,010 SF Dec 2023 $3,106,796 $1,545.67
1901 S Gilbert Rd Mesa Shores Shopping 1986 4,712 SF Jan 2024 $2,150,000 $456.28
Center
Page 28
5627 S Power Rd - Christian Brothers Automotive
TRANSACTION DETAILS
Sale Date Nov 3, 2022
Price/SF $889.66
Leased at Sale 100%
Document # 20220818177
Comp ID 6201197
BUILDING LAND
Type 3 Star Retail Auto Dealership Land Acres 1.10 AC
Class B
Year Built 2021
Tenancy Single
Owner Occup No
LC

Recorded Buyer Hepworth Family Landholdings LLC Recorded Seller CBA Mesa LLC
True Buyer Hepworth Family Landholdings LLC True Seller LaneStar Properties
Steven Hepworth Brian Schwartz
(208) 922-4990 (p) (972) 267-9000 (p)
No Buyer Broker on Deal Listing Broker No Listing Broker on Deal
Buyer Broker
TRANSACTION NOTES
11/22/22 - On the third day of November, 2022, CBA Mesa LLC out of Dallas, Texas, sold a 5,800 square foot retail building located at 5627 S Power
Rd in Mesa, Arizona. Hepworth Family Landholdings LLC, a Jackson, Idaho company, purchased the property for $5,160,000.00 in a cash deal.
Page 29
INCOME & EXPENSES
Expenses 2021 Per SF

Operating Expenses - -
Taxes $15,224 $2.62
Total Expenses $15,224 $2.62
SALE HISTORY
Nov 2022 $5,160,000 ($889.66/SF) Individual Property Hepworth Family Landholdings LLC LaneStar Properties
Jul 2021 $4,300,000 ($741.38/SF) Individual Property LaneStar Properties Christian Brothers Automotive Corporation
KEY TENANTS AT SALE

Christian Brothers Automotive 1 5,000 -
MARKET AT SALE
Submarket 2-4 2.2% -2.9%
Submarket 2-4 $25.46/SF 8.2%
12 Mo. Leased 158,880 SF 189.8%
Page 30
way Airport
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 31

Fingers
4676 Higley 2022 6,912 SF Oct 2022 $2,900,000 $419.56
9241 E Cadence Pky 2023 6,850 SF Apr 2023 $4,322,000 $630.95
866 N Higley Rd Higley Center 2004 9,842 SF Sep 2023 $3,310,000 $336.31
9248 E Cadence Pky 2022 7,107 SF Sep 2023 $4,400,000 $619.11
Page 32
1242 W University Dr
TRANSACTION DETAILS
Sale Date Jun 23, 2022
On Market 162 Days
Price/SF $597.17
Leased at Sale 100%
Financing Down Payment of $641,625 (43.5%)
1st Mortgage: Poppy Bank
Bal/Pmt: $833,375/-
Document # 0559952
Comp ID 6060817
BUILDING LAND
Type 2 Star Retail Restaurant Land Acres 0.39 AC
Floors 1 Parcels 135-32-018J
Class C
Year Built 1961
Tenancy Single
Owner Occup No
LC
Page 33

Recorded Buyer DKA Wealth LLC Recorded Seller Rmafii Loc Llc
True Buyer Nam H Nguyen True Seller Red Mountain Retail Group, Inc.
Nam Nguyen Michael Mugel
Buyer Type Private Equity (714) 881-3965 (p)
Buyer Broker No Buyer Broker on Deal

Listing Broker SRS National Net Lease Group
(949) 698-1100 (p)
TRANSACTION NOTES
This is the sale of a NNN leased, recently remodeled, drive-thru equipped, Renegade Coffee located in Mesa, Arizona (Phoenix MSA). The tenant,
Renegade Mesa, LLC, recently executed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site.
The lease features 2% rental increases occurring every 2 years and annual 2% rental increases starting in Year 7 of the initial term, growing NOI
and hedging against inflation. The lease is personally guaranteed by the operator and is NNN with limited landlord responsibilities.
Revenue 2022 Per SF • Freeway Visibility • Restaurant

Gross Income $74,989 $30.36 • Signage • Drive Thru
Other Income - -
Vacancy - -
Effective Gross Income $74,989 $30.36

Debt Service - -
Cash Flow $74,989 $30.36
SALE HISTORY
Jun 2022 $1,475,000 ($597.17/SF) Individual Property Nam H Nguyen Red Mountain Retail Group, Inc.
Mar 2020 Not Disclosed Individual Property Rmafii Loc Llc Red Mountain Asset Fund I Llc
Mar 2011 Not Disclosed 2 Property Portfolio* Red Mountain Asset Fund I, LLC Red Mountain Asset Fund I, LLC
KEY TENANTS AT SALE

Renegade Coffee 1 2,470 -
Page 34
MARKET AT SALE
Submarket 1-3 9.0% -2.1%
Submarket 1-3 $16.93/SF 6.5%
12 Mo. Leased 870,859 SF 12.7%
Page 35
Zip 85201 Airport 17 min drive to Phoenix Sky Harbor
International Airport
Walk Score Very Walkable (71)
Transit Score Good Transit (50)
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 36

2055 W Main St 1979 2,455 SF May 2022 $760,000 $309.57
2309 E University Dr Am/Pm 1986 2,499 SF Mar 2023 $2,250,000 $900.36
636 N Country Club Dr 1973 4,171 SF Mar 2023 $1,100,000 $263.73
2120 W Southern Ave 1977/2019 1,545 SF Jun 2023 $850,000 $550.16
117 S Country Club Dr 1935 2,779 SF Jul 2023 $899,942 $323.84
340 W Brown Rd 1972 2,781 SF Aug 2023 $1,000,000 $359.58
1151 W University Dr 2005 4,301 SF Sep 2023 $1,000,000 $232.50
1440 W Southern Ave Carl's Jr/green Burrito 1985 4,193 SF Sep 2023 $1,765,000 $420.94
259 W 1st Ave 1989 3,379 SF Oct 2023 $825,000 $244.16
2259 W Broadway Rd 1971 2,400 SF Dec 2023 $750,000 $312.50
1609 W University Dr 1960 3,753 SF Dec 2023 $980,000 $261.12
1145 W Main St 1989 2,952 SF Feb 2024 $1,577,733 $534.46
1219 S McClintock Dr 1977 4,032 SF Mar 2024 $1,500,000 $372.02
Page 37
5854 Longbow - Denny's
TRANSACTION DETAILS
Sale Date May 25, 2022
On Market 177 Days
Price/SF $1,076.61
Document # 0453604
Comp ID 6030686
BUILDING LAND
Class B
Year Built 2022
Tenancy Single
LC

Recorded Buyer Industrial Investors, LLC Recorded Seller Stine Investments LLC
True Buyer David R & Suzanne M Etheridge True Seller Stephen Stine
David Etheridge Stephen Stine
(760) 565-1992 (p) (480) 922-0088 (p)
Buyer Type Private Equity Seller Type Private Equity
Buyer Broker No Buyer Broker on Deal Listing Broker Secure Net Lease
(214) 522-7200 (p)
TRANSACTION NOTES
On April 25th, 2022, the 4,412 square foot Denny’s at 5854 Longbow, Mesa, AZ 85215 was sold for $4,750,000. The Denny’s finished construction
in January of this year.
The tenant signed a brand new 20-year absolute NNN sale-leaseback lease.
Page 38
The property was on the market for six months, with an initial asking price of $4,750,000.
The sale was verified with the listing broker and public records. The buyer couldn’t be reached at the time of publication. There was no buyer broker
reported on this transaction.
INCOME & EXPENSES

Taxes $4,616 $1.05
KEY TENANTS AT SALE

Denny's 1 4,412 Jan 2042
MARKET AT SALE
Submarket 2-4 9.0% -1.8%
Submarket 2-4 $17.56/SF 6.6%
12 Mo. Leased 870,859 SF 12.7%
Page 39
way Airport
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 40

2653 E McKellips Rd 2017 3,006 SF Sep 2022 $15,396,285 $5,121.85
365 S Power Rd 1993 3,350 SF Nov 2022 $1,550,000 $462.69
5961 E McKellips Rd Falcon View Plaza 2006 4,722 SF May 2023 $2,990,000 $633.21
6704 E Brown Rd Alta Mesa Animal Hospital 1997 4,931 SF May 2023 $2,050,000 $415.74
6806 E Brown Rd Shell 1988 3,271 SF Jun 2023 $1,800,000 $550.29
6806 E Brown Rd Shell 1988 3,271 SF Jul 2023 $4,300,000 $1,314.58
6806 E Brown Rd Shell 1988 3,271 SF Jul 2023 $5,100,000 $1,559.16
6262 E Main St Happy Convenience Mart 1988 2,954 SF Dec 2023 $1,600,000 $541.64
Page 41
5129 S Power Rd - Raising Cane's Chicken Fingers
TRANSACTION DETAILS
Sale Date Apr 5, 2022
Price/SF $822.00
Document # 0304154
Price Status Affidavit
Comp ID 5950594
BUILDING LAND
Type 3 Star Retail Freestanding Land Acres 0.88 AC
Class B
Year Built 2021
Tenancy Single
Owner Occup No
LC

Recorded Buyer BPM Properties LLC Recorded Seller Power 202 Mixed-Use LLC
True Buyer PTH Properties LP True Seller VIVO Partners
Bridget Hurley Devan Wastchak
(602) 795-6881 (p) (602) 393-9370 (p)
No Buyer Broker on Deal Listing Broker No Listing Broker on Deal
Buyer Broker
TRANSACTION NOTES
On April 4, 2022 the property at 5129 S Power Rd in Mesa, Arizona, sold for $3,288,000; or $822 per square foot.
The property consists of 4,000 square feet and is zoned LC while being situated within the Gateway Airport Ret submarket.
The details of this deal were verified using public record documents from Maricopa County and the state of Arizona. The buyer and seller were
unavailable for comment at the time of sale.
Page 42
INCOME & EXPENSES

Taxes $80,128 $20.03
MARKET AT SALE
Submarket 2-4 4.2% -0.1%
Submarket 2-4 $24.40/SF 6.7%
12 Mo. Leased 89,278 SF 0.1%
Page 43
way Airport
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 44

6538 E Superstition Springs 2007 5,581 SF Mar 2022 $4,200,000 $752.55
Blvd
4676 Higley 2022 6,912 SF Oct 2022 $2,900,000 $419.56
5627 S Power Rd Christian Brothers Automo- 2021 5,800 SF Nov 2022 $5,160,000 $889.66
tive
5105 S Power Rd Black Rifle Coffee 2023 2,800 SF Dec 2023 $3,185,000 $1,137.50
Page 45
6538 E Superstition Springs Blvd
TRANSACTION DETAILS
On Market 80 Days
Price/SF $752.55
Comp ID 5944613
BUILDING LAND
Type 3 Star Retail Restaurant Land Acres 1.47 AC
Floors 1 Parcels 141-54-658A
Class B
Year Built 2007
Tenancy Single
Owner Occup No
LC

Recorded Buyer JPD West Coast Property Invest- Recorded Seller Kind Prop Superstition Llc
ments, Inc.
True Seller Mark Mabry
True Buyer JPD West Coast Property Invest-
ments, Inc. Mark Mabry
Jeffrey Darrow (480) 854-1020 (p)
(951) 453-0449 (p) Seller Type Private Equity
Buyer Type Private Equity Listing Broker Retail Investment Group, LLC
No Buyer Broker on Deal (480) 429-4580 (p)

Buyer Broker
Page 46
TRANSACTION NOTES
On Mar 31st, 2022 - This 5,581 sf retail building was sold by Kind Prop Superstition LLC for $4,200,000 to JPDWest Coast Property Investments Inc
Available details pertaining to this sale were verified by the Maricopa County website. Mark Mabry represented the seller. Jeffrery Darrow represented
the buyer.
The respective deed was available at the time of publication.
Expenses 2021 Per SF • Freeway Visibility • Restaurant

Operating Expenses - - • Signalized Intersection
Taxes $32,639 $5.85
SALE HISTORY
Mar 2022 $4,200,000 ($752.55/SF) Individual Property JPD West Coast Property Investments, Mark Mabry
Inc.
Sep 2019 $1,300,000 ($232.93/SF) Individual Property Nava Thuraisingam Levine Investments LP
Dec 2007 $1,101,494 ($197.37/SF) Individual Property Levine Investments LP TradeCor Partners, LLC
KEY TENANTS AT SALE

Kind Properties, LLC Retailer 1 5,581 -
MARKET AT SALE
Submarket 2-4 8.7% -1.3%
Submarket 2-4 $17.30/SF 6.5%
12 Mo. Leased 844,630 SF 13.6%
Page 47
15.05/1,000 SF
Airport 13 min drive to Phoenix–Mesa Gate-
Submarket Cluster East Valley way Airport
Market Phoenix Walk Score Car-Dependent (45)
State AZ
DMA Phoenix, AZ
Page 48

6005 E Southern Ave Wal-Mart Supercenter Pad 2003 9,872 SF Sep 2022 $4,000,000 $405.19
Shops
4024 E Guadalupe Rd Highland Corner 2005 7,702 SF Sep 2022 $2,260,000 $293.43
365 S Power Rd 1993 3,350 SF Nov 2022 $1,550,000 $462.69
6353 E Southern Ave 1997 3,100 SF Apr 2023 $800,000 $258.06
1614 N Higley Rd Higley Marketplace IV 2006 6,000 SF May 2023 $2,000,000 $333.33
866 N Higley Rd Higley Center 2004 9,842 SF Sep 2023 $3,310,000 $336.31
1021 S Power Rd Serrano's 1990 6,514 SF Oct 2023 $1,787,500 $274.41
6262 E Main St Happy Convenience Mart 1988 2,954 SF Dec 2023 $1,600,000 $541.64
Page 49
5427 S Power Rd - Whataburger
TRANSACTION DETAILS
On Market 65 Days
Price/SF $947.57
Leased at Sale 100%
Document # 0271104
Comp ID 5937396
BUILDING LAND
GLA 3,746 SF Zoning LI
Floors 1 Parcels 304-37-018C
Class B
Year Built 2022
Tenancy Single
Owner Occup No
LI

Recorded Buyer TBJ Properties LLC Recorded Seller 5427 S Power LLC
True Buyer Thomas & Lauren Cooley Living Trust True Seller Kyle A Davis
Thomas Cooley Kyle Davis
(760) 822-6684 (p) (480) 889-2566 (p)
Buyer Broker No Buyer Broker on Deal Seller Type Private Equity
Listing Broker Commercial Properties, Inc.
(480) 966-2301 (p)
Page 50
TRANSACTION NOTES
Subject property is a brand new Whataburger restaurant.
15-year NNN lease, NOI for the first 5 years is $135,000.
10% increases every five years.
The Seller/Agent noted that the price was reduced from asking ($3.6 M) to account for the sale closing prior to lease commencement.
INCOME & EXPENSES

Taxes $3,197 $0.85
MARKET AT SALE
Submarket 2-4 4.7% -0.0%
Submarket 2-4 $24.02/SF 6.5%
12 Mo. Leased 34,499 SF -57.0%
Page 51
way Airport
Market Phoenix
County Maricopa
State AZ
DMA Phoenix, AZ
Page 52

Fingers
SEC Ray & Ellsworth Rd 2022 1,960 SF Aug 2022 $2,941,000 $1,500.51
5627 S Power Rd Christian Brothers Automo- 2021 5,800 SF Nov 2022 $5,160,000 $889.66
tive
5105 S Power Rd Black Rifle Coffee 2023 2,800 SF Dec 2023 $3,185,000 $1,137.50
Page 53

CRE Buyers List 2K-6K Retail - Marvin

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Sale Comp - Summary Report

BUYER & SELLER CONTACT INFO

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

INCOME & EXPENSES

Net Operating Income $150,013 $53.58

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

Buyer Broker Cardon Commercial Seller Type Private Equity

INCOME & EXPENSES

Net Operating Income $61,050 $18.84

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

INCOME & EXPENSES AMENITIES

Net Operating Income $135,000 $45.39 • Signage • Drive Thru

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

INCOME & EXPENSES

Revenue 2023 Per SF

Net Operating Income $108,900 $35.98

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

INCOME & EXPENSES

Expenses 2021 Per SF

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

Buyer Broker No Buyer Broker on Deal

INCOME & EXPENSES AMENITIES

Revenue 2022 Per SF • Freeway Visibility • Restaurant

Net Operating Income $74,989 $30.36

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

INCOME & EXPENSES

Expenses 2021 Per SF

KEY TENANTS AT SALE

Tenant Industry Floor SF Occupied Exp Date

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

INCOME & EXPENSES

Expenses 2021 Per SF

NEARBY SALE COMPARABLES

BUYER & SELLER CONTACT INFO

Jeffrey Darrow (480) 854-1020 (p)

(951) 453-0449 (p) Seller Type Private Equity

No Buyer Broker on Deal (480) 429-4580 (p)