21043 Cave Creek RdPhoenix, AZ 85024

Property Details for 21043 Cave Creek Rd

Year built

2002

Construction

CONCRETE

Lot size

1.06 AC

Property size (Sq ft)

40,713 SF

Zone code

C-2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

213-10-025

APU

21310025

Description

This exceptional 41,000 square foot Class B medical retail center, built in 2000 and renovated in 2015, presents a unique investment opportunity in Maricopa County. Situated on a 5-acre lot with convenient access to Loop 101, the property boasts 18 suites, offering flexible space options ranging from a minimum of 1,340 square feet to a maximum contiguous space of 5,257 square feet. Currently, 6,597 square feet are available for lease, providing immediate occupancy potential for multiple tenants. The center benefits from ample parking with 40 spaces and prominent monument signage, ensuring high visibility and attracting a substantial customer base. The location is strategically positioned on Cave Creek Road, near Phoenix, Arizona, within a thriving area characterized by high average household incomes exceeding $75,000 within a 3-mile radius. This prime location, combined with the presence of established national and local tenants, creates a robust and attractive environment for new businesses. The property's blend of established tenancy and available space offers a compelling opportunity for growth and expansion within a dynamic market. The single building structure provides efficient management and streamlined operations.

• CAP approach

  CAP return

  Valuation

  6%

  $8,816,130

  6.5%

  $8,137,960

  7%

  $7,556,680

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,526,950

  Geo Method

  $6,526,950

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $15,881,100

  Mixed-Use / Specialty

  $8,104,380

  Hospitality / Lodging

  $5,939,980

  Office

  $8,051,480

  Institutional / Educational

  $8,423,660

  Residential Income

  $9,855,680

  Multifamily

  $11,845,700

  Automotive / Energy

  $7,220,280

  Parking / Income-Based Land

  $2,496,140

  Restaurant / Food Service

  $4,205,400

  Healthcare / Senior Housing

  $8,315,580

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.679

Longitude

-112.03

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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