Marcus & Millichap Brokers the Sale of Maverik, a 4,425-SF Net Leased Property in Bullhead City, Arizona
BULLHEAD CITY, Ariz., September 12, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Maverik, a 4,425 square foot net-leased property located in Bullhead City, Arizona. The asset sold for $2,700,000.
Mark Ruble, executive managing director investments, and Chris Lind, senior managing director investments, in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The sale included a brand new 20-year absolute triple-net (NNN) corporate ground lease with an eight percent rental increase every five years.
The property has excellent visibility to over 30,260 cars per day along Arizona State Route 95, Bullhead City’s main thoroughfare. It sits in a stellar location, with the surrounding area containing retailers such as Safeway, Lowe’s, Starbucks, Harbor Freight Tools, and more. The asset is also less than a 15-minute drive to Laughlin, Nevada, a popular tourist destination with multiple casino resorts, restaurants, entertainment, and recreation. Built in 2023, Maverik is located at 1885 AZ-95 in Bullhead City, Arizona.