Arcadia Court | 2303 N 44th St
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Arcadia Court 2303 N 44th St
24,925 SF 100% Leased Retail Building Phoenix, AZ 85008 $10,000,000 ($401/SF) 6.45% Cap Rate
Investment Highlights
- PRIME LOCATION ADJACENT TO LEADING RETAILERS
- HIGH DENSITY AND HIGH TRAFFIC AREA
- GENTRIFYING NEIGHBORHOOD WITH RESIDENTIAL REDEVELOPMENT
- SOLID SUBMARKET WITH MINIMAL VACANCY
- LONG-TERM GROUND LEASE WITH SALAD & GO
Executive Summary
Newmark Retail Capital Markets is pleased to present the opportunity to acquire Arcadia Court, a 100% leased, infill shopping center with a drivethru pad on the edge of the Arcadia Neighborhood in Phoenix, Arizona. Arcadia Court consists of 22,198 SF of rentable space for 11 tenants in an L shaped building and Salad & Go. The property is just two miles north of the Loop-202 Freeway and is adjacent to a plethora of retail businesses, restaurants, and multifamily properties. On the northeast corner of 44th Street and Oak Street, the property is exposed to over 65,000 vehicles daily. Situated in a high-demographic neighborhood, close to the freeway, and 10 minutes from Phoenix Sky Harbor Airport, Arcadia Court offers an investor the rare opportunity to acquire a stable asset with a recently
constructed drive-thru restaurant pad in a steadily busy yet rapidly growing part of Phoenix.
constructed drive-thru restaurant pad in a steadily busy yet rapidly growing part of Phoenix.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
24,925 SF
Building Class
C
Year Built
1979
Price
$10,000,000
Price Per SF
$401
Cap Rate
6.45%
NOI
$645,199
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Land Acres
1.95 AC
Zoning
C-2 - General Retail
Parking
110 Spaces (5.47 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
- Wheelchair Accessible
- Air Conditioning
Bike Score ®
Very Bikeable (82)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 126-08-002L | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $164,540 |
PROPERTY TAXES
Parcel Number
126-08-002L
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$164,540
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Arcadia Court | 2303 N 44th St
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