For Sale
$14,450,000

2700 Baseline Rd Tempe, AZ 85283

Grocery-anchored shopping center, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
138
This Tempe, Arizona shopping center presents a compelling investment opportunity. The 49,315 square foot property boasts a 7.00% cap rate and a strong 95.1% occupancy rate (as of October 1, 2024). Anchored by a Kroger grocery store and featuring 16 additional tenants including Goodwill and Honorhealth, this multi-tenant retail center offers a diverse income stream. Situated on a 3.81-acre lot at 2700 W Baseline Rd, Tempe, AZ 85283, the center benefits from high visibility and traffic counts exceeding 86,000 vehicles daily. The property includes 536 parking spaces and features a mix of tenants catering to daily needs and specialty services. Built in 1987, the center is zoned PCC-1 and offers a stabilized investment with a Net Operating Income (NOI) of $1,011,288. The asking price is $14,450,000, translating to a price per square foot of $293.01. The property's strong tenant mix, high occupancy, and prime location make it an attractive addition to any portfolio. APN: 123-22-006P, 123-22-617, 123-22-618.

Highlights

  • Shadow-anchored by Kroger grocery store.
  • Adjacent to a business park.
  • Located in a dense infill location.
  • Includes HonorHealth as a tenant.

Property Details for 2700 Baseline Rd

Property type
Lifestyle centers, Power centers
Square Feet
49,315 SF
Year Built
1987
Lot Size (sq. ft)
165,964 SF

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.378870658971
Longitude
-111.97749408181

FAQs

What type of property is this?
Lifestyle center - Grocery-anchored shopping center, high occupancy.
Where is the lifestyle center located?
The property is located at 2700 Baseline Rd Tempe, AZ.
What is the asking price?
The asking price for this property is $14,450,000.
What are key features of this property?
This property features: Shadow-anchored by Kroger grocery store.; Adjacent to a business park.; Located in a dense infill location.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2700 Baseline Rd
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