For Sale
$10,300,000

11901-11941 1St Ave Oro Valley, AZ 85737

Ace Hardware-Anchored, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional 41,642 square foot, 14-tenant retail center in Oro Valley, Arizona, presents a compelling investment opportunity. Anchored by a long-term Ace Hardware and featuring a diverse mix of national and local tenants including Subway, Edward Jones, Anytime Fitness, and Athletico Physical Therapy, the property boasts 100% occupancy and a strong NOI of $709,995. Built in 2007, the four-building, single-story center sits on a 6.58-acre lot and benefits from recent parking lot improvements (2023) and attractive custom art installations. The property enjoys a prime location with excellent visibility and access from Tangerine Road and 1st Avenue, experiencing high traffic counts (±40,155 vehicles daily at the intersection). Situated within affluent neighborhoods, including Rancho Vistoso and Catalina Shadows, the center serves a high-income demographic (average household income of nearly $145,000 within 1 mile). The center's consistent performance is further evidenced by its strong year-over-year visit growth (nearly 663,000 visits in the past 12 months, according to Placer.ai data), placing it in the top 10% of Tucson centers based on visits per square foot. The stabilized investment offers a 6.89% cap rate and an asking price of $10,300,000 ($247.35/sq ft). The majority of tenants have been in place for over a decade, with built-in rent bumps providing consistent income growth. APN: 224-02-1710, 224-02-1720.

Highlights

  • 41,642 SF retail center in Oro Valley, AZ, with 14 tenants and 100% occupancy.
  • Anchored by Ace Hardware and featuring national and local tenants including Subway, Edward Jones, Anytime Fitness, and Athletico Physical Therapy.
  • Well-maintained property with recent parking lot improvements (2023) and custom art installations.
  • Strong tenant history, with most in place for over a decade and built-in rent increases.
  • Prime location with high visibility and traffic counts (±40,155 vehicles daily) at the Tangerine Road and 1st Avenue intersection.
  • Serves an affluent demographic with average household incomes of nearly $145,000 within 1 mile.

Property Details for 11901-11941 1St Ave

Property type
Lifestyle centers, Power centers
Square Feet
41,642 SF
Year Built
2007
Buildings
4
Stories
1
Lot Size (sq. ft)
286,625 SF

Location Insight

City
Oro Valley
County
Pima
State
Arizona
Latitude
32.42243453
Longitude
-110.96272582

FAQs

What type of property is this?
Lifestyle center - Ace Hardware-Anchored, 100% Occupied
Where is the lifestyle center located?
The property is located at 11901-11941 1St Ave Oro Valley, AZ.
What is the asking price?
The asking price for this property is $10,300,000.
What are key features of this property?
This property features: 41,642 SF retail center in Oro Valley, AZ, with 14 tenants and 100% occupancy.; Anchored by Ace Hardware and featuring national and local tenants including Subway, Edward Jones, Anytime Fitness, and Athletico Physical Therapy.; Well-maintained property with recent parking lot improvements (2023) and custom art installations.
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11901-11941 1St Ave
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