8939 N 8TH Street, Phoenix, AZ 85020

Property Description

Exceptional NNN Tenant | ACTUAL 8.03% Cap Rate This is the kind of NNN tenant investors look for. Not only does the tenant pay rent on time, every time, but they have recently completed new exterior paint and landscaping at their own expense—further enhancing curb appeal and long-term value—all while the property maintains an ACTUAL 8.03% cap rate. This is a true passive investment with pride of ownership from the tenant and zero landlord involvement. SEE THE ADDITIONAL Supplement Exceptional NNN Tenant | ACTUAL 8.03% Cap Rate This is the kind of NNN tenant investors look for. Not only does the tenant pay rent on time, every time, but they have recently completed new exterior paint and landscaping at their own expensefurther enhancing curb appeal and long-term valueall while the property maintains an ACTUAL 8.03% cap rate. This is a true passive investment with pride of ownership from the tenant and zero landlord involvement. Discover a compelling investment opportunity with a newly signed Absolute NNN lease, offering stability, strong returns, and built-in growth potential. Situated in a high-demand location, this property delivers reliable income backed by a proven tenant. Lease Details 5-Year Absolute NNN Lease with scheduled rent increases in years 2 through 5, providing predictable cash-flow growth Tenant Reliability: Proven tenant known for exceptional property maintenance and consistent, on-time rent payments Triple NNN Structure: Tenant is responsible for taxes, insurance, and all maintenanceminimizing landlord responsibilities Renewal Options: Two additional 5-year options for long-term income security and flexibility Financial Snapshot Lease Rate: $10,500 per month with scheduled increases Cap Rate: ACTUAL 8.03% - strong, stable return with upside protection Income Security: Backed by a reputable tenant committed to property upkeep and lease obligations Property Highlights Location: Strategically positioned in a thriving area with solid economic fundamentals Investment Appeal: Ideal for investors seeking true passive income with minimal management Property Details Comprehensive Renovation: Extensive upgrades position this asset competitively in the market Unit Mix: 6 one-bedroom apartments 2 two-bedroom / one-bath apartments 1 office unit - currently used as office space and can be converted to a one-bedroom apartment Renovations & Upgrades Apartment Renovations (2024): Each of the 7 units has been thoughtfully updated, including bathroom renovations averaging approximately $12,000 per unit Office / Storage Addition: Added for approximately $100,000, offering flexible use potential Exterior Enhancements Brick patio installed in 2019 ($15,000) with TV and power outlets Security gate added in 2015 ($5,000) New brick wall for privacy ($5,000) New mailboxes installed August 2024 ($500) NEW exterior paint and landscaping completed by the tenant at their expense Property Features On-site laundry facility Two storage units Microwaves, refrigerators, and stoves in all units Gated property for added security and privacy Currently leased under a Master Lease - Absolute NNN Buyer Information Buyer to verify all facts and figures NO Seller Carry Act Now Opportunities offering an ACTUAL 8.03% cap rate, an Absolute NNN structure, and a tenant who reinvests in the property are rare. .

Listing Status:

Pending

Date Added:

August 28, 2024

Data Last Updated:

April 1, 2026 at 10:08PM

Listing Office:

Gerchick Real Estate : 602-688-9279

Listing Agent:

Linda S Gerchick : 602-688-9279

MLS ID:

6749873

Interior

• Flooring: CarpetCeramic Tile
• A/C: Ceiling Fan(s)Heat PumpIndividual
• Heating: IndividualHeat PumpElectric

Exterior

• Parking: OtherPavedFree>1 Space Per UnitOn StreetParking spaces: 10

Construction

• Roofing: CompositionFoamRolled/Hot Mop
• General: Wood FramePaintedStuccoBlock

Location

• Road/Access: Asphalt
• Originating MLS: Arizona Regional Multiple Listing Service 2
• School District: Glendale Union High School District
• County: Maricopa

Lot

• Zoning: R-416003012A

Utilities

• Water: Master MeterCity Franchise
• Sewer: Public Sewer

Financial

• Source: Arizona Regional Multiple Listing Service 2