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Investment Highlights

  • 100% NNN leased to Amazon Prime Now, providing immediate and reliable income.
  • Positioned near Arizona State University and a Valley Metro Light Rail stop for strong connectivity.
  • Surrounded by dense residential neighborhoods and major commercial corridors.
  • Located within a federally designated Opportunity Zone with potential tax incentives.
  • ±4,950 SF freestanding building with masonry construction and flexible layout.
  • Situated in a high-traffic area with excellent visibility and long-term growth potential.

Executive Summary

This offering presents an opportunity to acquire a fully stabilized retail asset in the heart of Tempe, Arizona. The property, located at 1501 E Apache Boulevard, is 100% NNN leased to Amazon Prime Now, a globally recognized tenant delivering consistent and reliable income from day one. With a sale price of $2,500,000 and a cap rate of 5.38%, the investment provides a strong return backed by a creditworthy tenant.
Built in 2005, the ±4,950 SF building sits within a federally designated Opportunity Zone, offering potential tax advantages for long-term investors. The site is strategically positioned just a half-block from a Valley Metro Light Rail stop and near Arizona State University, ensuring excellent accessibility and visibility in a high-traffic corridor. The surrounding area benefits from robust demographics, including a dense employment base and strong consumer spending, driven by the university and nearby business districts.
This asset combines secure cash flow, a premier location, and the stability of a nationally recognized tenant, making it an attractive addition to any investment portfolio.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,950 SF
Building Class
B
Year Built
2005
Price
$2,500,000
Price Per SF
$505.05
Cap Rate
5.38%
NOI
$134,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.39 AC
Opportunity Zone
Yes
Zoning
CSS - Commercial
Frontage
134’ on E Apache Blvd

Amenities

  • Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100

Nearby Major Retailers

Filiberto's Mexican Food
HOTWORX
Native Grill & Wings
the Human Bean
Ted's Jumbo Red Hots
Vine Tavern & Eatery
Starbucks
Ahipoki Bowl
The Halal Guys
McAlister's Deli

Property Taxes

Property Taxes

Parcel Number
133-07-010B
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$105,991
  • Listing ID: 31713338

  • Date on Market: 5/6/2024

  • Last Updated:

  • Address: 1501 E Apache Blvd, Tempe, AZ 85281

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