5920 Baseline RdPhoenix, AZ 85339

Property Details for 5920 Baseline Rd

Year built

2024

Lot size

1.90 AC

Property size (Sq ft)

10,130 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a fee-simple interest in the Laveen Spectrum Shopping Center – Shops A, a brand-new Class A retail center completed in 2024. The 10,130 square foot property sits on a 1.9-acre lot in Phoenix, Arizona, at 5920 W Baseline Rd, 85339. Currently boasting 100% occupancy, the center features three high-quality tenants: Panera Bread (with a drive-thru), Mattress Firm, and Nothing Bundt Cakes, all under a triple-net (NNN) lease with a remaining term of 10 years, including 5-year lease options and rent bumps. The property generates a strong net operating income (NOI) of $467,532, resulting in a 5.65% cap rate and a price per square foot of $816.88. The asking price is $8,275,000. This strategically located center benefits from high visibility and accessibility, situated at a signalized intersection with monument signage on the 202 Loop Freeway, experiencing a daily traffic count of 60,000 vehicles, and Baseline Road with 21,000 vehicles daily. The property is offered as a 1031 exchange opportunity. This is a rare chance to acquire a high-performing, newly constructed retail center in a rapidly growing area of Phoenix.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.378

Longitude

-112.186

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