NWC Chandler & Mountain Pkwy | 15410 S Mountain Pky
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NWC Chandler & Mountain Pkwy 15410 S Mountain Pky
18,800 SF 100% Leased Retail Building Phoenix, AZ 85044 £5,020,224 (£267/SF) 6.75% Net Initial Yield
Investment Highlights
- COMMITMENT TO AHWATUKEE NEIGHBORHOOD Miracle Nails, Foothills Physical Therapy, and Bleacher’s have been at the property since construction in 2000
- LONG TERM TENANCY Above average WALT of 7.81 years and 7 out of 8 tenants have annual increases
- EXCELLENT DEMOGRAPHICS AND HIGH HOUSEHOLD INCOMES 85045 zip code ranks the third highest median income in Metro Phoenix, 30% higher than the median of
- RECENT LEASING MOMENTUM SIGNALS A STRONG SUBMARKET New leases from Dew Skinbar, Cotta Nostra Coffee, Haus of Artistry, & Phoenix Pilates and long-term
- WELL BALANCED SERVICE-ORIENTED TENANT MIX Including food & beverage, physical therapy, nails/skincare, and more
Executive Summary
Newmark Retail Capital Markets is pleased to present the opportunity to acquire Mountain Parkway Plaza, 100% leased strip retail center. This 18,880 square foot neighborhood center is home to eight tenants in the Ahwatukee area of Phoenix, Arizona. Mountain Parkway Plaza is about one mile north of the south Loop 202 Freeway and about one mile west of the I-10 Freeway. With frontage on Mountain Parkway, this property is adjacent to dense residential neighborhoods and several grocery centers, exposing the property to over 57,000 vehicles on a daily basis. This shopping center is situated at the intersection of Mountain Parkway and Mountain Sky Avenue less than 15 minutes from Phoenix Sky Harbor International Airport. Mountain Parkway Plaza is located in a high-income demographic neighborhood. This fully leased center offers an investor the rare opportunity to acquire a stable asset in a growing part of Phoenix, Arizona.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
18,800 SF
Building Class
B
Year Built
2000
Price
£5,020,224
Price Per SF
£267
Net Initial Yield
6.75%
NOI
£338,865
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.26
Land Acres
1.64 AC
Zoning
C-C
C-C - Commercial
Parking
58 Spaces (3.09 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Air Conditioning
Walk Score ®
Very Walkable (73)
Bike Score ®
Very Bikeable (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 306-04-140 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £349,827 |
PROPERTY TAXES
Parcel Number
306-04-140
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£349,827
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Steve Julius -
Jesse Goldsmith -
Chase Dorsett -
Newmark, Inc.
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NWC Chandler & Mountain Pkwy | 15410 S Mountain Pky
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