3160 W Carefree Hwy
Phoenix, AZ 85086
Denny's Ground Lease | Below Market Rent · Retail Property For Sale

CBRE and the Net Lease Property Group in Phoenix have exclusively listed this single-tenant Denny’s ground lease (The “Property”) for sale. The Property is located at 3160 West Carefree Highway in Phoenix, Arizona, which is located directly off the heavily traveled I-17 Freeway. The building is located within the very successful Tramonto Marketplace shopping center. The Property is made up of +4,836 rentable square feet on approximately 40,680 square feet of land. The investment consists of a recently remodeled and well located single-tenant Denny’s ground lease, with approximately 8.5 years remaining in the initial term. The lease includes very attractive 11% rental increases every five years in the initial term and throughout the two (2), ten (10) year options. Denny’s is an American table service diner-style restaurant. As of December 26, 2018, Denny’s had approximately 1,709 franchised, licensed, and company restaurants around the world including restaurants in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala. This is where guests have come for over 60 years to sit back, relax and enjoy delicious hearty meals 24/7. (Source: Dennys.com) The Property benefits from a great location and excellent visibility along Carefree Highway. The location intersection boasts more than 63,609 vehicles per day (Source: ADOT, 2018) and has immediate access to the busy I-17 Freeway. The I-17 sees over 100,396 vehicles per day (Source: ADOT, 2018). The average household income in a five-mile radius is approximately $120,489, with a projected $140,061 average household income in the next five years. (Source: Esri) Nestled between the busy sub-markets of Deer Valley and Anthem, this location benefits from the close proximity to top employers in the area which include: USAA Phoenix Office (±3,700 employees), Blue Cross Blue Shield of Arizona, Inc. (±1,540 employees), Pinnacle West Capital Corporation (±1,370 employees), Waste Management of Arizona, Inc. (±1,120 employees), and Cigna Healthcare of Arizona, Inc. (±1,000 employees), among many others. (Source: geo.azmag.gov)