Listed by Commercial Retail Advisors, LLC
$6,900,000
Orange Grove Village
Details
APN 102-02-008F, 102-02-008E
Property Type Retail
Sub Type Shopping Center
Square Footage 19,154
Cap Rate 6.19%
NOI $426,860
Occupancy 96.08%
Tenancy Multi
Price per SqFt $360
Year Built 1964
Acreage 2.990
Zoning CB-1
Parking Spaces 107 spaces
Parking Per SqFt 5.59
Investment Type Stabilized
6421-6453 N. Oracle Rd., Tucson, AZ 85704
Marketing description
Orange Grove Village is a multi-tenant retail strip center offered for sale at $6,900,000, representing a 6.19% cap rate, located at the NWC of Oracle Road and Orange Grove Road in Tucson, AZ. The center features seasoned, quality daily need retail stores and restaurants that drive traffic, with five tenants having been in the center for 20-30 years. The property underwent an approximately $1,000,000 remodel in 2022, which included a reroof and resealing of the parking lot.
Investment highlights
- Strong Daily Needs Tenant and Restauarant Roster
- Seasoned, quality daily need retail stores and restaurants that drive traffic to the center.
- Six restaurants, including top rated and seasoned operators.
- Restaurants drive traffic, creates a good atmosphere, are hard to relocate and are relatively quick to release, usually for higher rent.
- Five tenants have been in the center for 20-30 years.
- SITUATED IN THE HEART OF NORTHWEST TUCSO
- Oracle Road is Arizona State Route 77 and is the main arterial leading to the rapidly growing and upscale northwest area and Oro Valley.
- Orange Grove Road is a major east/west arterial connecting with I-10 to the west and Skyline Boulevard and the Catalina Foothills area to the east.
- Recently Remodeled Center
- +/- $1,000,000 remodel in 2022.
- Remodel included reroof and resealing parking lot.
- Three restaurants have a brand new buildout (one is under construction).
- Future Pad Opprotunity
- There is a +/-20,000 square foot PAD fronting Orange Grove Road, which could be leased or sold or simply provide overflow and employee parking. It is currently being repaved by the Seller.
Listing Contacts
Listed by Commercial Retail Advisors, LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$426,860.00
$35,571.67/mo
Valuation Metrics
0
DSCR
6.19%
Cap Rate
6.19%
ROI
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