Listed by OX Urban Properties, Urban Properties
$9,000,000
The Bird House
Details
APN 214-55-008D
Property Type Retail, Office
Sub Type Storefront, Creative Office
Square Footage 18,146
Net Rentable (SqFt) 18,146
Units 17
Cap Rate 6.00%
NOI $540,130
Occupancy 100%
Tenancy Multi
Brand/Tenant Little Play Avenue, Mode Hair Studio
Lease Type NNN
Price per SqFt $496
Year Built 2023
Buildings 2
Stories 2
Lot Size (SqFt) 55,889
Zoning C-2
Parking Spaces 90 spaces
Parking Per SqFt 4.96
Retail | 6.00% CAP | 18,146 SqFt
Marketing description
OX Urban Properties is pleased to present the opportunity to acquire ”the bird house”, a fully leased, multi-tenant, NNN, Investment opportunity offering investors the chance to own one of Phoenix’s most unique adaptive reuse projects.
The bird house was developed and completed in 2023. Consisting of,146 sf of rentable space, the bird house is home to 10 carefully curated Tenant’s, across 2 buildings, in a “L” shape configuration. We have branded the single story building as the “Nest” building and the 2 storey building as the “Perch” building. The tenant mix was curated to support the affluent and growing “Sheaborhood” neighborhood and and includes Litte Play Avenue, Optimyze Mind Body Health, Vibe Box, By Refine Natural Light Studio, Essential Investing, Motherhood Co., Luxe Skin and Laser, Heavenly IV, Autumn Wren, and Mode. The Property is conveniently located right off of the 51 Freeway and Thunderbird and is adjacent to a plethora of quality retailers such as Planet Fitness, Walgreens, and Great Hearts School as well as multiple multifamily properties, great density of single-family homes, and a variety of restaurants. With outstanding 32nd Street and Thunderbird frontage,the HARD CORNER property is exposed to over 50,000 vehicles per day. Situated in a high-demographic neighborhood, close to the freeway, and 15 minutes from Phoenix Sky Harbor Airport, the bird house offers an investor the rare opportunity to acquire a stable asset with a recent and complete over hall of the Property.
Investment highlights
- Completed in 2023 –Complete Remodel
- New Foam Roof System
- New storefront systems and Doors
- New HVAC Systems on each Suite
- New Parking Lot Overlay
- New Ductwork and Wifi Thermostats
- New drywall coatings and paint
- All new Tenant interiors (full build out including restrooms)
- New exterior smooth stucco
- New exterior paint and accents
- New Tiger Wood and Steel Canopy System
- New landscaping and drip systems
Listing Contacts
Listed by OX Urban Properties, Urban Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$540,130.00
$45,010.83/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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