Country North Plaza | 1207 N Country Club Dr
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Country North Plaza 1207 N Country Club Dr
27,883 SF 96% Leased Retail Building Mesa, AZ 85201 £4,285,170 (£154/SF) 7.06% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Newly signed Thrift Express is a credit tenant wholly owned by its parent company Goodwill of Central Arizona.
- Tall monument signage and excellent visibility to capture the attention of the +30,000 people living within a one mile radius of the center.
- Potential for future rent growth. Average NNN shop rents are just $14.83 PSF.
- Current landlord has recently invested several thousand dollars in capital and tenant improvements.
EXECUTIVE SUMMARY
Bernstein Murphy is pleased to be the exclusive advisor for the disposition of Country North Plaza located in Mesa, Arizona. The neighborhood retail center includes 27,883 square feet and features a rent roll highlighted by a diverse mix of service oriented retail tenants. The owners of Country North Plaza will benefit from a desirable small-format footprint that places emphasis on e-commerce resistant tenants while minimizing big box exposure. Rent Roll highlight includes newly signed Thrift Express, a not-for-profit credit tenant wholly owned by it's parent company Goodwill of Central Arizona. The credit tenant joins other notable tenants such as Fresenius Medical Care and local staple Long Wong's Famous Wings. The center is 95% occupied allowing potential investors the opportunity to raise future shop rents while maintaining positive cash flow from the current rent roll. Please contact us for more information.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
27,883 SF
Building Class
C
Year Built
1984
Price
£4,285,170
Price Per SF
£154
Net Initial Yield
7.06%
NOI
£302,343
Percent Leased
96%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.31
Lot Size
2.09 AC
Zoning
LC - Limited Commercial, City of Mesa.
Frontage
325 ft on Country Club Drive
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 137-21-014H | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £261,045 |
PROPERTY TAXES
Parcel Number
137-21-014H
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£261,045
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Country North Plaza | 1207 N Country Club Dr
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