$2,282,353 USD
415-274-2702
10050 N Metro Pky E
Phoenix, AZ 85051
Metrocenter
HIGHLIGHTS
- 50 year “firm term” single tenant ground lease to the City of Phoenix
- Absolute NNN lease featuring zero landlord responsibilities or expense obligations
- 10% compounding rent increases every 5 years throughout the entire term
- The adjacent Metropolitan is an $850 million redevelopment project transforming the 64.2-acre former Metrocenter Mall site into a mixed-use community
- Redevelopment is expected to revitalize the area with significant residential and commercial growth: 2,600 new housing units & 140,000 SF of retail
- The Valley Metro Light Rail expanded in 2024 with a new station at the Metrocenter, connecting to Downtown Phoenix, Mesa, Tempe, ASU and PHX Airport
OVERVIEW
The City of Phoenix recently signed a new, 50-year absolute net ground lease to continue to occupy this award winning site. Located along the primary ring road encircling the Metrocenter Mall (currently undergoing a massive and historic redevelopment, this important branch will continue to serve current and future generations of Phoenix residents.
FOR SALE DETAILS
PRICE
$2,282,353 USD
PRICE/SF
$76 USD /SF
CAP RATE
4.25%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
ON GROUND LEASE
Yes
BUILDING DETAILS
PROPERTY NAME
City of Phoenix Public Library Cholla Branch
PROPERTY TYPE
Specialty
TOTAL BUILDING SIZE
-
STORIES
2
BUILDING CLASS
-
YEAR BUILT
1977
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
149-16-400
ASK ABOUT THIS PROPERTY
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415-274-2702
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415-274-2702
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