Multi Tenant Building for Sale

12032-12036 N. Cave Creek Rd. Phoenix, AZ 85020

FOR SALE
Property Type:
Strip Center
Amount:
$1,400,000
Last Verified:
Apr 16, 2019

Highlights

  • AAMCO Transmissions
  • Reign of Thai Restaurant
  • Outfront Media Billboard
  • High Visibility
  • Dense Population
  • Over 28,000 VPD on Cave Creek Road
  • Over 42,000 VPD on Cactus Road
  • Multi-tenant C-2 property
  • Billboard Income
  • 20 Minutes to Sky Harbor International Air Port
  • High Traffic Intersection

Description

NNN Multi-tenant Property
National Tenant
Billboard Income
Stable Tenants

Phoenix’s retail sector continues to steadily improve.
Store closures, which have been much less frequent in
the past several quarters, have had a negligible impact
on fundamentals. Retail vacancies in the Valley are well
below their historical average, which has coincided with
healthier rent growth as of late.
Overall, strong tenant demand—bolstered by robust job
and population growth—has enabled absorption to
outpace supply additions for eight consecutive years.

The firming up of fundamentals has translated into robust
rent growth in Phoenix's retail market. While most of the
nation has seen rent growth slow, gains in Phoenix are
gaining traction thanks to elevated retail demand in one
of the nation's fastest-growing markets.


Year Built: 1978
Building Size: 6493.0sq ft
Building Class: B
Lot Size: 0.93 acres

Map of 12032-12036 N. Cave Creek Rd. , Phoenix, AZ, 85020

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
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  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
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