Description

SVN Desert Commercial Advisors, as the sole representative of the Owner, is pleased to present for purchase this absolute NNN investment opportunity in the heart of Old Town Scottsdale. Occupied by Barstool Sports, on an initial ten-year lease the subject property represents a unique investment opportunity to qualified investors. As one of the four physical Barstool Sports locations (Barstool River North in Chicago, IL, Barstool Sansom Street in Philadelphia, PA, and Barstool Nashville in Nashville, TN are sister locations) the Scottsdale location operates as both a bar, restaurant and nightclub and lies in the northern pocket of Old Town Scottsdale, viewed by many as the epicenter of Old Town activity during both the day time and nighttime hours. The property is walkable to the W Scottsdale, The Remi Scottsdale, Scottsdale Fashion Square Mall, Scottsdale Waterfront and multiple other lifestyle and retail amenities. Further, the subject property lies within a qualified census tract for the Scottsdale opportunity zone, providing further investment opportunity for a buyer should they elect to substantially renovate the property further down the road. Barstool's initial lease commenced in June of 2022 and expires in May of 2032. They have two options to extend for a period of 5 additional years each. The subject property is currently offered at $7,840,000, representing a 5.25% CAP rate on 2025 income.

Strategically situated in the heart of Old Town Scottsdale, this prime location offers an esteemed address amidst a dynamic and evolving commercial landscape. The surrounding area is brimming with renowned dining establishments, luxury and lifestyle retail destinations, and vibrant cultural attractions, and a revitalized and renovated urban office environment with significant new capital investments, making it an ideal setting to attract top-tier tenants. With proximity to the vibrant Scottsdale Waterfront and the luxury Scottsdale Fashion Square Mall, the property presents an enticing opportunity for investors seeking a prestigious address with unparalleled conveniences and urban walkability. Its close proximity to major transportation arteries also ensures seamless access for employees and clients alike, solidifying its status as an exceptional choice for discerning retail building investors.

Justin Horwitz, SIOR (480-220-2674, justin.horwitz@svn.com) and Richard "Ricky" Lewis Jr. (602-327-0064, richard.lewis@svn.com) of SVN | Desert Commercial Advisors represent this listing.