Power Rd & Baseline Rd 1914 S Power Rd 13,265 SF 100% Leased Retail Building Phoenix, AZ 85206 $3,175,000 ($239.35/SF) 6.92% Cap Rate

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.