1743 Broadway RdTempe, AZ 85282

Property Details for 1743 Broadway Rd

Year built

1981

Construction

CONCRETE

Lot size

1.48 AC

Property size (Sq ft)

7,870 SF

Zone code

PCC-1

Property type

Retail properties

Property subtype

Strip malls

APN

133-31-554

APU

13331554

Description

This exceptional Tempe, Arizona retail investment opportunity presents a stabilized, multi-tenant shopping center totaling 26,900 square feet on a 102,896 square foot lot. The property, located at 1743 E Broadway Rd, Tempe, AZ 85282, consists of two single-story buildings built in 1981 and features eight units with a diverse tenant mix including national brands like Dollar Tree and local favorites such as Ted's Hot Dogs and Cayden's Place. Currently operating at 100% occupancy, the center generates a substantial Net Operating Income (NOI) of $488,660, resulting in a compelling 6.98% capitalization rate. The asking price is $7,000,000, translating to $260.22 per square foot. The property is zoned PCC-1 and benefits from a fee simple ownership structure, making it ideal for a 1031 exchange. Key features include high visibility from Broadway and McClintock Roads, ample parking, and a high volume of vehicular traffic (approximately 63,000 vehicles per day). The property's relatively newer leases and below-market rent for upcoming end-cap space offer significant upside potential. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a thriving Tempe market. APN: 133-31-554 & 133-31-555.

• CAP approach

  CAP return

  Valuation

  6%

  $2,014,686

  6.5%

  $1,859,710

  7%

  $1,726,874

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,057,164

  Geo Method

  $3,057,164

• Alternative Use

  Use

  Valuation

  Residential

  $1,568,735

  Hospitality

  $1,436,953

  Educational

  $1,195,528

  Medical

  $1,236,644

  Retail

  $1,859,710

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.4068

Longitude

-111.91

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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