14140 100Th StScottsdale, AZ 85260

Property Details for 14140 100Th St

Year built

2007

Lot size

7.65 AC

Property size (Sq ft)

52,519 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents Centennial Marketplace, a Class A, multi-tenant shopping center in Scottsdale, Arizona. Spanning 52,519 square feet across four buildings on a 7.65-acre lot, this stabilized property boasts a strong 8.14% cap rate and a Net Operating Income (NOI) of $773,237. Currently housing 14 tenants with a 95% occupancy rate, the center benefits from a diverse mix of service-oriented and destination retail businesses. The property is situated at 14140 N 100th St, Scottsdale, AZ 85260, and features a ground lease with the State of Arizona, expiring October 29, 2066, providing approximately 42 years remaining. The asking price is $9,500,000, translating to $180.89 per square foot. Built in 2007, the property is zoned PNC and includes built-in rent bumps. All leases are Triple Net (NNN), meaning tenants cover all operating expenses, including common area maintenance, taxes, and insurance. This leasehold investment offers significant upside potential due to below-market rents for many tenants, presenting a value-add opportunity for investors seeking immediate returns and long-term growth in a prime Scottsdale location. The property benefits from its location in an affluent area with high average household incomes within a 3- and 5-mile radius. Limited retail competition in the immediate trade area further enhances its desirability.

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Latitude

33.6127

Longitude

-111.865

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