1845 Broadway RdTempe, AZ 85281

Property Details for 1845 Broadway Rd

Year built

1985

Construction

CONCRETE

Lot size

2.92 AC

Property size (Sq ft)

36,274 SF

Zone code

CSS

Property type

Strip malls

Property subtype

Neighborhood centers

APN

133-44-028N

APU

13344028N

Description

This exceptional retail opportunity is situated at 1845 E Broadway Rd, Tempe, AZ 85281, on the southeast corner of Broadway Road and McClintock Drive. The single-story, 36,432 square foot building, constructed in 1985, offers multiple tenancy options with a minimum divisible space of 1,558 square feet. Currently, there are 2,172 square feet of vacant space available for lease. The property is zoned C-2 and located in Maricopa County. Its strategic location provides excellent visibility and accessibility, benefiting from proximity to major transportation arteries including I-60 and 101 Freeways, and is just two miles from Arizona State University. The property is also conveniently located one intersection south of the new light rail transit system extending from ASU to Loop 101, ensuring high foot traffic and convenient access for customers. Established tenants include VCA Tri-City Animal Hospital, Cosmo Prof, Burger King, America's Health Suites, Simply Smashing, and Catalyst Brewing, demonstrating the center's strong appeal and established tenant base. This property presents a compelling investment opportunity for businesses seeking a high-traffic location in a thriving Tempe market. The available space offers a chance to establish or expand a retail presence in a well-established and convenient shopping center.

• CAP approach

  CAP return

  Valuation

  6%

  $7,418,130

  6.5%

  $6,847,500

  7%

  $6,358,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,815,300

  Geo Method

  $5,815,300

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $13,575,300

  Mixed-Use / Specialty

  $6,733,380

  Hospitality / Lodging

  $4,823,260

  Office

  $6,599,930

  Institutional / Educational

  $6,967,940

  Residential Income

  $8,152,480

  Multifamily

  $10,275,000

  Automotive / Energy

  $5,972,520

  Parking / Income-Based Land

  $2,149,680

  Restaurant / Food Service

  $3,310,620

  Healthcare / Senior Housing

  $6,996,950

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.4068

Longitude

-111.908

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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