24890 Lake Pleasant PkwyPeoria, AZ 85383

Property Details for 24890 Lake Pleasant Pkwy

Year built

2006

Construction

CONCRETE

Lot size

15.29 AC

Property size (Sq ft)

173,890 SF

Zone code

PAD

Property type

Outlet malls

APN

201-08-167A

APU

20108167A

Description

This exceptional 25,000 square foot retail land parcel presents a unique investment opportunity in the thriving Peoria, Arizona market. Located at 24890 N Lake Pleasant Pkwy, this power center site offers unparalleled visibility and accessibility, situated in Maricopa County with a zip code of 85383. The entire 25,000 square feet is currently available for lease, providing a blank canvas for a diverse range of retail concepts. The property's strategic location ensures high traffic volume and exposure to a substantial consumer base. This is an ideal site for developers seeking to establish a new retail center or for existing businesses looking to expand their footprint in a high-growth area. The property's classification as a power center signifies its potential for large-format retail tenants, offering significant opportunities for long-term lease agreements and substantial returns on investment. The site's ample square footage allows for flexible design and development, catering to a variety of retail needs. With its prime location and significant size, this property represents a rare opportunity to secure a prominent position in the competitive Peoria retail landscape. The property is categorized as a multiple tenancy site, suggesting the potential for a diverse mix of businesses to create a vibrant and attractive retail destination. This presents a chance to create a synergistic retail environment that benefits all tenants. The property's location in Peoria, Arizona, offers access to a growing population and strong consumer spending. This is a compelling opportunity for investors and developers seeking a high-impact retail investment in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $48,321,344

  6.5%

  $44,604,316

  7%

  $41,418,292

• Comparable approach

  Method

  Valuation

  Relative Method

  $67,548,960

  Geo Method

  $67,548,960

• Alternative Use

  Use

  Valuation

  Residential

  $37,625,408

  Hospitality

  $34,464,672

  Educational

  $28,674,204

  Medical

  $29,660,352

  Retail

  $44,604,316

Location Insight

City

Peoria

County

Maricopa

State

Arizona

Latitude

33.7099

Longitude

-112.275

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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