Payson Village & Rim Country Mall
Dominant Grocery Anchored Center | Payson, AZ | 7% CAP | 221,876 SqFt
Marketing description
Newmark Retail Capital Markets is pleased to present the opportunity to acquire Payson Village & Rim Country Mall, a 97% leased grocery anchored center anchored by Basha’s, Harbor Freight Tools, Goodwill, and Dollar Tree. This 221,876 square foot center is the premier retail destination in Payson, AZ.
Payson Village & Rim Country Mall is situated on the northwest corner of Bee Line Hwy and Hwy 260, exposing the property to over 43,000 vehicles on a daily basis. The quick access to both Beeline Hwy and Hwy 260 make this property a first stop for both locals and travelers looking for a break from the Phoenix heat. Payson Village & Rim Country Mall is one of just two grocery anchored centers serving the residents and visitors of Payson. With majority of the land surrounding Payson owned by the Tonto Apache Tribe, and few parcels suitable for retail development, competition for new grocery centers remains limited. At a price per foot well below replacement cost, this opportunity provides stable, secure cash flow with future rental rate upside
Investment highlights
Dominant grocery anchored center in a development constrained market
- Much of the land outside Payson city limits is owned by Tonto Apache Tribe, leaving minimal chance for new grocery development
- Limited opportunities for new commercial development within the city limits (See page 23 of OM for more info)
Excellent health ratio for Bashas and long term commitment to the location
- When comparing all Bashas locations in AZ, this store has above average sales and below average rent, with a ±3.0% rent-to-sales ratio
- Bashas 26 year operating history and recent five-year renewal shows commitment to location
National anchor tenant lineup
- Includes Dollar Tree, Harbor Freight, Goodwill, Petsmart, and Big 5
- Big Lots closed at Rim Country Mall in October 2024—Ownership received multiple national tenant LOIs to backfill that space. TJMaxx to open in Fall 2026.
Multiple freestanding buildings included in sale
- Drive-thru Starbucks and Arby’s, Oil change, Verizon Wireless + two freestanding sit-down restaurants
Price per foot is well below replacement cost
- 149 psf leaves room for future rental rate growth
Located at the true main & main intersection in Payson, AZ
- Payson Village is one of two grocery anchored centers for all residents and tourists in the Payson metro area
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