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SOUTH MOUNTAIN PLAZA 6044 S 16th St 26,341 SF 100% Leased Retail Building Phoenix, AZ 85042 $8,277,000 ($314.22/SF) 6.65% Cap Rate
Investment Highlights
- South Mountain Plaza is a grocery-anchored neighborhood center anchored by a recently remodeled Safeway grocer
- Other traffic-drawing retailers in the center include two newly constructed pad tenants Starbucks and Filiberto's Mexican Food
- Dense infill Phoenix grocery anchored neighborhood center with nearly 226,000 residents within a 5-mile radius
- 100% leased to a great tenant mix of internet-resistant, service-based retail and restaurant tenants
- Compounding rent growth as most tenants have annual rent increases through the initial terms and options periods
- Close proximity to significant employment corridors, including downtown Phoenix, Phoenix Sky Harbor and multiple industrial parks
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
26,341 SF
Building Class
B
Year Built
2000
Price
$8,277,000
Price Per SF
$314.22
Cap Rate
6.65%
NOI
$550,450
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
5.50 AC
Zoning
C-2, Phoenix - Commercial
Parking
363 Spaces (13.78 Spaces per 1,000 SF Leased)
Amenities
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 114-29-095 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $612,300 |
Property Taxes
Parcel Number
114-29-095
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$612,300
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SOUTH MOUNTAIN PLAZA | 6044 S 16th St
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