Listed by Phoenix Commercial Advisors
$8,036,000
SOUTH MOUNTAIN PLAZA
Details
APN 114-29-095
Property Type Retail
Sub Type Shopping Center, Grocery Store
Square Footage 26,341
Units 13
Cap Rate 6.85%
NOI $550,450
Occupancy 100%
Tenancy Multi
Brand/Tenant Safeway, Starbucks
Lease Type NNN
Rent Bumps Yes
Year Built 2000
Acreage 5.500
Investment Type Stabilized
Ground Lease No
South Mountain Plaza | 6.85 Cap | 26,341 SF | Grocery Shadow-Anchored Shops
Marketing description
South Mountain Plaza | 6.85 Cap | 26,341 SF | 100% Leased
South Mountain Plaza is located along 16th Street; situated on the west side; just south of Southern Avenue
Investment highlights
- South Mountain Plaza is a grocery-anchored neighborhood center anchored by a recently remodeled Safeway grocer
- 100% leased to a great tenant mix of internet-resistant, service-based retail and restaurant tenants
- Safeway anchor ranks in the top 30% of Arizona locations by traffic volume (Placer.ai)
- Other traffic-drawing retailers in the center include two newly constructed pad tenants Starbucks (2024) and Filiberto's Mexican Food (2025), as well as Arizona Federal Credit Union, Risas Dental, and a Safeway fuel station
- Property has been well-maintained with recent and consistent improvements including exterior and interior remodel of the Safeway, new parking lot, comprehensive landscape improvements, exterior painting, and new roof completed in 2023 with a 10-year warranty
- Compounding rent growth as most tenants have annual rent increases through the initial terms and option periods
- Dense infill Phoenix grocery anchored neighborhood center with nearly 226,000 residents within a 5-mile radius
- Close proximity to significant employment corridors, including downtown Phoenix, Phoenix Sky Harbor and multiple industrial parks, with nearly 251,000 employees and nearly 10,000 businesses within 5 miles
- Excellent access and visibility from 16th Street and Southern Avenue with ±56,635 vehicles per day and the intersection
- Average household income is nearly $102,000 within 3 miles of the property
Listing Contacts
Listed by Phoenix Commercial Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$550,450.00
$45,870.83/mo
Valuation Metrics
0
DSCR
6.85%
Cap Rate
6.85%
ROI
Map
Zoning
PSC PlannedPlanned Shopping Center
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View all 269 uses
View all 269 uses Last updated Apr 13, 2026 For deeper zoning details, reports are available at Zoneomics
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