Listed by Phoenix Commercial Advisors
$9,999,500
Shops at Royal Palms
Details
APN 136-32-086L, 136-32-086K
Property Type Retail
Sub Type Day Care/Nursery, Shopping Center
Square Footage 34,229
Cap Rate 6.25%
NOI $624,967
Occupancy 100%
Tenancy Multi
Brand/Tenant Anytime Fitness, Woof Gang Bakery & Grooming
Lease Type NNN
Rent Bumps Yes
Price per SqFt $292
Year Built 1996
Year Renovated 2018
Acreage 3.400
Retail | 6.25% CAP | 34,229 SqFt
Marketing description
Shops at Royal Palms | 6.25 Cap | 34,229 SF | 100% Leased
Location Description
Shops at Royal Palms is located along Stapley Drive; situated on the east side; just south of McKellips Road.
Investment highlights
- Shops at Royal Palms is a dynamic retail center in the north Mesa submarket, shadow-anchored by a high-performing Fry’s Marketplace that ranks in the top 10% of Arizona locations by traffic volume (Placer.ai)
- 100% leased to cohesive roster of internet resistant, service-oriented tenants, including Anytime Fitness, Chaffee Pediatric Dentistry, Fyzical Therapy, Daisy Nails and more
- Property features a freestanding single-tenant medical building occupied by a deeply rooted medical practice, offering diverse income streams and potential future break-up value
- Future upside from rent growth: 5 of 9 tenants have either fair market value options or no options
- Annual contractual rent increases for all tenants provide future rent growth and built-in inflation protection
- Strong traffic draw from a high-demand tenant: Shadow anchored to the only Fry’s Marketplace north of Main Street in Mesa; the center attracts excellent traffic from the entire North Mesa submarket and beyond
- Highly trafficked intersection that boasts over 72,000 vehicles per day
- Situated in a dense residential pocket, with both multi-family (nearly 43,000 units within 5 miles) and single-family residences (over 100,000 units within 5 miles) surrounding the property
- Other traffic-drawing tenants in the center include Fry’s, Chipotle, O’Reilly, CVS, Taco Bell, T-Mobile and more
- Affluent demographics: Average HH income of over $129,000 within a 1-mile radius
- Highly populated trade area: Nearly 244,000 residents within 5 miles of the center offer a stable and established customer base for daily needs
Listing Contacts
Listed by Phoenix Commercial Advisors
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$624,967.00
$52,080.58/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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