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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.

Attachments

Arcadia Court OM

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
305 FT on N 44th St

Amenities

  • Bus Line
  • Pylon Sign
  • Signage
  • Signalized Intersection
  • Wheelchair Accessible
  • Air Conditioning
Bike Score ®
Very Bikeable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

D1 Sports Training
IHOP
Applebee's
Starbucks
Five Guys
Buffalo Wild Wings
Scooter's Coffee
Chase Bank
Fry’s Food Stores
CrossFit

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
126-08-002L
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$164,540
  • Listing ID: 33745002

  • Date on Market: 11/4/2024

  • Last Updated:

  • Address: 2303 N 44th St, Phoenix, AZ 85008

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