1914 S Power Rd - Retail FOR SALE


Phoenix, AZ 85206
$3,175,000 USD
602-334-8546
1914 S Power Rd, Phoenix, AZ for Sale
$3,175,000 USD
Retail - FOR SALE
1/11
null | 6.9% Cap Rate

1914 S Power Rd
Phoenix, AZ 85206


HIGHLIGHTS

  • Priced Well Below Replacement Value
  • Recent Upgrades include new roof and paint for the entire property
  • 100% Occupied all with Triple Net Leases
  • High Net Income at already below market rents
  • Quality Multi Tenant Retail Center located on major street
  • State of the Art Unison/Crown Castle Cell Tower on property and owned by Landlord

OVERVIEW

100% occupied Multi Tenant Retail Center with tremendous upside value. Superstition Springs Plaza at Power & Baseline is a quality, stable with strong value-add upside potential, retail center located in Mesa, Arizona (metro-Phoenix). It is located north of the northwest corner of Power Road and Baseline Roads with its frontage along Power Road. Power Road runs north/south and connects immediately to the north at the US-60 Freeway, the 202 North “Red Mountain” Freeway, and continues north. To the South, Power Road also connects again with the 202 South “San Tan” Freeway, making it a major arterial street. Surrounding retail includes Target, Home Depot, Fry’s Food, Subway, Starbucks and Jack in the Box. The property was built in 1999 and is good condition with the owner recently painting and roofing the entire property. It is comprised of two buildings totaling approximately 13,265 net rentable square feet and sits on 1.78 acres of land. Directly behind the property is a pair of man-made lakes which enhance the aesthetic appeal of the development. Currently, the center is 100% occupied with tenants paying well below market rents giving a new owner the opportunity to raise those to market and create tremendous upside potential. Many of the business have been in the property since its construction in 1999. This property is being offered well below replacement value and offers a new owner tremendous upside through rental increases and possible property redevelopment enhancements.

FOR SALE DETAILS

PRICE

$3,175,000 USD

PRICE/SF

$263 USD /SF

CAP RATE

6.9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Power Rd & Baseline Rd

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.78 AC

LAND SF

77,537 SF

ZONING

L-C, Mesa

APN/PARCEL ID

141-54-025C

ASK ABOUT THIS PROPERTY

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602-334-8546

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602-334-8546

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