Montesa Plaza | 50-190 S Houghton Rd
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Montesa Plaza 50-190 S Houghton Rd
75,643 SF 100% Leased Retail Building Tucson, AZ 85748 $15,900,000 ($210/SF) 8.58% Cap Rate
Executive Summary
Kidder Mathews is pleased to present the opportunity to acquire Montesa Plaza, a 75,643-square-foot neighborhood retail center located at the hard corner of Broadway Boulevard and Houghton Road in Tucson, Arizona. The retail center was constructed in 1999, sits on 7.2 acres, and is currently 97% occupied by 15 tenants.
Anchored by Galaxy Theatres, Montesa Plaza benefits from having a destination tenant that is the only theatre in east Tucson. Galaxy Theatres was founded in 1998 and hosts 16 locations in five states. Other notable tenants of the Montesa Plaza include Starbucks, UPS Store, Sally Beauty, and Robek’s Juice.
Montesa Plaza is on the corner of Broadway Boulevard and Houghton Road. It enjoys excellent visibility, with a combined traffic count of 32,834 visitors per day. With a five-year projected population growth of 5.8% within a 3-mile radius, East Broadway Boulevard has been widened to four lanes. South Houghton Road is being expanded by four lanes stretching from Interstate 10 to the south to Tanque Verde Road to the north. This highway expansion places the Montesa Plaza strategically in the major north/south arterial in the far east section of Tucson. Montesa Plaza is in a prime area, with an active tenant base and desirable exposure.
Anchored by Galaxy Theatres, Montesa Plaza benefits from having a destination tenant that is the only theatre in east Tucson. Galaxy Theatres was founded in 1998 and hosts 16 locations in five states. Other notable tenants of the Montesa Plaza include Starbucks, UPS Store, Sally Beauty, and Robek’s Juice.
Montesa Plaza is on the corner of Broadway Boulevard and Houghton Road. It enjoys excellent visibility, with a combined traffic count of 32,834 visitors per day. With a five-year projected population growth of 5.8% within a 3-mile radius, East Broadway Boulevard has been widened to four lanes. South Houghton Road is being expanded by four lanes stretching from Interstate 10 to the south to Tanque Verde Road to the north. This highway expansion places the Montesa Plaza strategically in the major north/south arterial in the far east section of Tucson. Montesa Plaza is in a prime area, with an active tenant base and desirable exposure.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
75,643 SF
Building Class
B
Year Built
1999
Price
$15,900,000
Price Per SF
$210
Cap Rate
8.58%
NOI
$1,364,973
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.24
Land Acres
7.19 AC
Zoning
C-2, Tucson - Commercial
Parking
420 Spaces (4.86 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 100
- 1,300 SF
- Retail
- In-Line
- 30 Days
- 130
- 540 SF
- Retail
- In-Line
- 30 Days
| Space | Size | Space Use | Position | Available |
| 100 | 1,300 SF | Retail | In-Line | 30 Days |
| 130 | 540 SF | Retail | In-Line | 30 Days |
| Pad 2 | 2,040 SF | Retail | Outparcel | 30 Days |
100
| Size |
| 1,300 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
130
| Size |
| 540 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
Pad 2
| Size |
| 2,040 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| 30 Days |
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Pad 2
| Size | 2,040 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | 30 Days |
PROPERTY TAXES
| Parcel Number | 133-48-128F | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,572,592 |
PROPERTY TAXES
Parcel Number
133-48-128F
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,572,592
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Darren Tappen -
Nathan Thinnes -
Ryan Sharpe -
Tyler Griffith -
Kidder Mathews
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Montesa Plaza | 50-190 S Houghton Rd
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