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Shops at Cactus 303 16640 W Cactus Rd 10,617 SF 100% Leased Retail Building Surprise, AZ 85388 $8,203,000 ($772.63/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- New, 10-Year Leases | Options To Extend | Scheduled Rental Increases
- Brand New Development | Retail Corridor | Growing Community | Strong National/Credit Tenant Presence
- NNN Leases | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
• All of the tenants are on new, 10-year leases with 2 (5-Year) options to extend
• All of the leases feature 10% rental increases every 5 years throughout the initial term and at the beginning of each option
• The subject property is part of the new development “Cactus | 303”, which will feature several national tenants including In-N-Out, QuikTrip, Take 5, Discount Tire, Slim Chickens, Quick Quack Car Wash, and more
• Surprise, Arizona is one of the fastest growing communities in the entire country
• The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco Wholesale, Walmart Supercenter, Home Depot, Kohl’s, TJ Maxx, and more
• All of the leases feature 10% rental increases every 5 years throughout the initial term and at the beginning of each option
• The subject property is part of the new development “Cactus | 303”, which will feature several national tenants including In-N-Out, QuikTrip, Take 5, Discount Tire, Slim Chickens, Quick Quack Car Wash, and more
• Surprise, Arizona is one of the fastest growing communities in the entire country
• The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco Wholesale, Walmart Supercenter, Home Depot, Kohl’s, TJ Maxx, and more
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
10,617 SF
Year Built
2025
Price
$8,203,000
Price Per SF
$772.63
Cap Rate
5.75%
NOI
$471,673
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
1.52 AC
Zoning
PAD - Planned Area Development
Parking
43 Spaces (4.05 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
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Shops at Cactus 303 | 16640 W Cactus Rd
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