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Costco Plaza 1245-1375 Elliot 109,430 SF 100% Leased Retail Building Tempe, AZ 85284 $23,200,000 ($212.01/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Located in a Dominant Tempe Retail Trade Area
- Shadow Anchored to Costco
- Major Employment Corridor
- Strategically Leased and Well-Maintained Asset
EXECUTIVE SUMMARY
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.
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.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
109,430 SF
Year Built
1990
Price
$23,200,000
Price Per SF
$212.01
Cap Rate
7.25%
NOI
$1,682,011
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.62
Lot Size
4.07 AC
Zoning
PCC-2 - Planned Community Center
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 301-53-062 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $663,662 |
PROPERTY TAXES
Parcel Number
301-53-062
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$663,662
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Costco Plaza | 1245-1375 Elliot
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