This Retail Property is Off-Market.

6036 S 7th Ave
Phoenix, AZ 85041 ·

75,283 SF · Retail For Sale

N/A

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Southern Plaza

Price N/A Cap Rate 7.16%
Gross Leasable Area 75,283 SF Occupancy 97%
Property Type Retail Tenancy Multiple
Property Sub-type Neighborhood Center Year Built 2006
Property Use Type Investment Lot Size 8.71 AC
Listing ID: 15646400 Date Created: 04/03/2008 Last Updated: 02/19/2009

Description

Southern Plaza is a newly built Food City (Bashas' ) anchored neighborhood shopping center located on Southern Avenue, approximately 4 miles south of downtown Phoenix and 2 miles south of the full diamond interchange of the Interstate 17 freeway. Sitting at the SWC of 7th Avenue and Southern Avenue, this offering includes a ±55,000 SF Food City Grocery Store on a twenty (20) year lease and ±20,269 SF of shop space.

This investment offering provides potential investors with the opportunity to own a grocery-anchored shopping center in a hard to find infill location. It should be noted that this fee simple Asset is being offered free and clear, allowing potential purchasers to pursue their preferred debt structure.

The excellent tenant mixture of the shops includes Payless ShoeSource, Bok Park Fashions, Pizza Patron, Mobile Net, AA Insurance, a hair salon and nail salon. The building layout for Southern Plaza creates excellent visibility along both 7th Avenue and Southern Avenue. The site was constructed in 2006 and 2007 for maximum visibility from both streets and the pad buildings are situated to provide clean site lines to the anchor from Southern Avenue. The quality new construction shows a true pride of ownership from the current owner and ensures minimal capital expenditures for the next owner. Along with the grocery anchor tenant, the diverse group of shop retailers creates a constant flow of traffic from the dense surrounding residential community. This consistent traffic contributes to the economic feasibility of all the retail tenants, providing a stable real estate investment opportunity for years to come.

Highlights

  • Grocery Anchored
  • Low Cost Per Square Foot
  • Infill Hispanic Location
  • Shop Rent Upside
  • Dense Trade Area
  • Ease of Access

Research

6036 S 7th Ave, Phoenix, AZ 85041 (Maricopa County)

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