509 Mcdowell RdPhoenix, AZ 85003

Property Details for 509 Mcdowell Rd

Year built

1956

Lot size

0.57 AC

Property size (Sq ft)

9,042 SF

Property type

Retail properties

Property subtype

Retail space

APN

111-31-137A

APU

11131137A

Description

Easley's Center, a Class A, stabilized retail investment property located at 509 W McDowell Rd, Phoenix, AZ 85003, presents a compelling opportunity. This multi-tenant property, encompassing 13,259 square feet across two buildings on a 24,924 square foot lot, boasts 100% occupancy with seven tenants. The property features a mix of uses including restaurant, shopping center, and storefront spaces, totaling 11,959 net rentable square feet. Recently renovated in 2022, the property offers modern finishes and a distinctive design. The asking price is $5,500,000, representing a price per square foot of $414.81 and a 5.00% cap rate. The property benefits from a high-traffic location on McDowell Road, within a densely populated area with strong daytime population and income levels from nearby historic neighborhoods. Seller financing is available. The property's location provides excellent street-front exposure and is situated near the Willo and Encanto districts. This is a truly exceptional opportunity to acquire a trophy asset in a prime downtown Phoenix submarket. The property is a NNN lease type and has a Maricopa County APN of 111-31-137A.

• CAP approach

  CAP return

  Valuation

  6%

  $2,936,893

  6.5%

  $2,710,978

  7%

  $2,517,337

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,512,437

  Geo Method

  $3,512,437

• Alternative Use

  Use

  Valuation

  Residential

  $2,286,811

  Hospitality

  $2,094,707

  Educational

  $1,742,772

  Medical

  $1,802,708

  Retail

  $2,710,978

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4655

Longitude

-112.081

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].