21043 Cave Creek RdPhoenix, AZ 85024

  • Retail properties
  • 40,713 SF
For Lease

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
Retail properties
Property subtype
Strip malls
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $11,313,513
    6.5%
    $10,443,243
    7%
    $9,697,297
  • Comparable approach

    Method
    Valuation
    Relative Method
    $15,815,291
    Geo Method
    $15,815,291
  • Alternative Use

    Use
    Valuation
    Residential
    $8,809,266
    Hospitality
    $8,069,240
    Educational
    $6,713,514
    Medical
    $6,944,402
    Retail
    $10,443,243
21043 Cave Creek Rd, Phoenix, Arizona

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$69,225
-
-
$1,440,714
-
$1,746,300
$6,985,300
$8,731,600

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