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3345 N 19th Avenue - Bayless Shopping Center 19th Ave - Bayless Shopping Center, Phoenix, AZ

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3345 N 19th Avenue - Bayless Shopping Center 19th Ave - Bayless Shopping Center

SEC 19th Ave & Osborn
Phoenix, AZ 85015-5702 - Downtown Phoenix Ret Submarket


Property Type:Retail Sub Type:- Status:Existing , Renov 2012 Year Built:1953
Building Size:30,343 SF Land Area:2.58 AC (112,385 SF)
For Sale Price:$1,850,000 Price/SF:$60.97
Cap Rate:4.77 %
Parking:Free Surface spaces are available; Ratio of 2.24/1,000 SF
Features:Bus Line, Pylon Sign, Signage, Signalized Intersection



Sale Notes:
Building: ±30,343 sq. ft. older shopping center consisting of a ±20,000 sq. ft. vacant supermarket building together with 6 retail shops ranging in size from 582 sq. ft. to 3,400 sq. ft and a 100 sq. ft. kiosk.

Parcel: approximately 2.58 acres - 112,848 sq. ft.

Zoning: C1, Light Commercial, City of Phoenix

Current Occupancy: The supermarket space is currently vacant. 5 shops totaling 5,860 sq. ft. of space are occupied on a month-to-month basis. The current gross income is $6,962 per month ($83,544 per year)

Potential Redevelopment ideas:

-Redevelop the center with a viable anchor tenant.
-Turn the market space into shops. Front some of the shops on Osborn to fully utilize the depth of the supermarket space.
-Reduce the size of the anchor space and put a new single tenant building on the signalized hard corner for a national tenant.
-Demolish the supermarket building and add a build-to-suit building on the hard corner.


Commercial Properties, Inc.
Tom Semancik
(480) 966-0419




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