Cushman & Wakefield Arranges $2,570,000 Phoenix Retail Property Sale

A single-tenant retail site at 2649 W. Indian School Road in Phoenix has sold for $2,570,000, showing that investors continue to seek high-traffic, absolute NNN assets.

The transaction, involving a convenience store and fueling station, highlights the specific market dynamics currently favoring properties that offer stable cash flow and built-in inflation hedges.

The property, which spans approximately 2,943 square feet on a 0.88-acre lot, was sold by DRA852AZ LLC to Glidepath LLC, according to reporting from the Arizona Digital Free Press. Built in 2000, the site is currently occupied by a Sinclair Gas Station franchise operator, West Coasts Petroleum Newports, which has maintained a presence at the location for over 16 years.

The sale was facilitated by Cushman & Wakefield’s Chris Hollenbeck and Shane Carter. For investors, the appeal of this particular asset lies in the structure of the lease and the location’s sheer volume of traffic. The property sits adjacent to the Interstate 17 Freeway, a corridor that sees approximately 220,585 vehicles daily, while the immediate intersection handles over 100,000 combined vehicles per day.

This was a highly sought-after absolute NNN asset with bonus-depreciation benefits and long-term rental growth. Achieving a full-asking-price closing reinforces the strength of both the real estate and the NNN market segment, said Chris Hollenbeck of Cushman & Wakefield.

Investors are increasingly prioritizing assets that provide tax advantages, such as bonus depreciation, alongside rent escalations designed to combat inflationary pressure. This focus on “passive” income—where the tenant bears the responsibility for property taxes, insurance, and maintenance—remains a staple strategy for those looking to hedge against economic volatility.

The premium placed on this specific parcel is tied directly to its location. In commercial real estate, the value of a convenience store is tethered to its accessibility and the density of the surrounding population. As urban centers like Phoenix continue to navigate shifting retail patterns, sites that command significant visibility at major freeway junctions maintain a unique defensive position in a portfolio.

The “absolute NNN” structure effectively transfers the operational risk of the business to the franchisee, leaving the property owner with a predictable, long-term revenue stream.

The transaction confirms that even as interest rates and capital costs fluctuate, demand for high-performing, well-located retail real estate in major metropolitan hubs stays strong. For now, the Sinclair station on West Indian School Road remains a textbook example of how investors are utilizing specific tax and lease structures to secure their positions in the Phoenix market.