2700 Baseline RdTempe, AZ 85283

Property Details for 2700 Baseline Rd

Year built

1987

Construction

CONCRETE

Lot size

4.22 AC

Property size (Sq ft)

50,724 SF

Zone code

PCC-1

Property type

Grocery and convenience stores

APN

123-22-006N

APU

12322006N

Description

This Tempe, Arizona shopping center presents a compelling investment opportunity. The 49,315 square foot property boasts a 7.00% cap rate and a strong 95.1% occupancy rate (as of October 1, 2024). Anchored by a Kroger grocery store and featuring 16 additional tenants including Goodwill and Honorhealth, this multi-tenant retail center offers a diverse income stream. Situated on a 3.81-acre lot at 2700 W Baseline Rd, Tempe, AZ 85283, the center benefits from high visibility and traffic counts exceeding 86,000 vehicles daily. The property includes 536 parking spaces and features a mix of tenants catering to daily needs and specialty services. Built in 1987, the center is zoned PCC-1 and offers a stabilized investment with a Net Operating Income (NOI) of $1,011,288. The asking price is $14,450,000, translating to a price per square foot of $293.01. The property's strong tenant mix, high occupancy, and prime location make it an attractive addition to any portfolio. APN: 123-22-006P, 123-22-617, 123-22-618.

• CAP approach

  CAP return

  Valuation

  6%

  $11,602,703

  6.5%

  $10,710,187

  7%

  $9,945,174

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,704,144

  Geo Method

  $19,704,144

• Alternative Use

  Use

  Valuation

  Residential

  $9,034,444

  Hospitality

  $8,275,502

  Educational

  $6,885,120

  Medical

  $7,121,910

  Retail

  $10,710,187

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.3791

Longitude

-111.977

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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