1245-1375 Elliot - Retail FOR SALE


Tempe, AZ 85284- South Tempe
$23,200,000 USD
480-244-3671
1245-1375 Elliot, Tempe, AZ for Sale
$23,200,000 USD
Retail - FOR SALE
1/10
null | 7.25% Cap Rate

1245-1375 Elliot
Tempe, AZ 85284
South Tempe


HIGHLIGHTS

  • Located in a Dominant Tempe Retail Trade Area
  • Major Employment Corridor
  • Shadow Anchored to Costco
  • Strategically Leased and Well-Maintained Asset

OVERVIEW

Newmark Retail Capital Markets is pleased to present the opportunity to acquire Costco Plaza, a 100% leased retail center. This 101,864 square foot Costco shadow anchored center is home to eleven tenants in Tempe, Arizona. Costco Plaza is less than half a mile east of the I-10 freeway, connecting the property to Downtown Phoenix. With frontage on both Elliot and Priest Roads, the property is exposed to over 65,000 vehicles on a daily basis. This shopping center is adjacent to dense residential neighborhoods on a dominant retail oriented intersection with tenants including Walmart Supercenter, Floor and Decor, and AutoZone. Costco Plaza is situated 10 minutes south of Phoenix Sky Harbor International Airport. This fully leased center offers an investor the rare opportunity to acquire a stable asset in a growing part of Tempe, Arizona.

FOR SALE DETAILS

PRICE

$23,200,000 USD

PRICE/SF

$212 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Costco Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.07 AC

LAND SF

177,376 SF

ZONING

PCC-2

APN/PARCEL ID

301-53-062

ASK ABOUT THIS PROPERTY

Chase DorsettNewmarkMore Info
480-244-3671

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Chase DorsettNewmarkMore Info
480-244-3671

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.