3131 Thunderbird RdPhoenix, AZ 85032

Property Details for 3131 Thunderbird Rd

Year built

1988

Construction

CONCRETE

Lot size

10.89 AC

Property size (Sq ft)

27,255 SF

Zone code

C-2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

166-04-002G

APU

16604002G

Description

This exceptional Phoenix, Arizona shopping center, Mountainview Marketplace, presents a compelling investment opportunity. Boasting 122,697 square feet on a 9.97-acre lot, this multi-tenant retail property is strategically located at 3131 E Thunderbird Rd, 85032, offering excellent freeway access and strong demographics. Currently 91.89% occupied, the center generates a substantial net operating income (NOI) of $1,658,564, representing a 7.50% capitalization rate at an asking price of $22,115,000 ($180.24/sq ft). Built in 1988 and extensively renovated in 2020, the property features a robust tenant mix, including a Vasa Fitness and Dollar Tree, along with several other established businesses. Recent leasing momentum has added over 34,000 square feet of new tenants. Significant capital improvements include a new roof (approximately 90% of gross leasable area), exterior painting, landscaping enhancements, upgraded LED lighting, and parking lot improvements. The center benefits from a synergistic tenant mix, long-term occupancy history, and a pattern of tenant renewals, including multiple recent long-term extensions. With 154 parking spaces, this well-maintained, daily-needs-oriented shopping center offers a stable and attractive investment prospect in a prime Phoenix location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,542,182

  6.5%

  $6,038,936

  7%

  $5,607,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,587,423

  Geo Method

  $10,587,423

• Alternative Use

  Use

  Valuation

  Residential

  $5,094,069

  Hospitality

  $4,666,140

  Educational

  $3,882,174

  Medical

  $4,015,688

  Retail

  $6,038,936

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.6103

Longitude

-112.014

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].