Shops B | 91st & Cardinals Way | Glendale, AZ
Shops B @ 91st & Cardinals Way
Marketing description
91st & Cardinals Way Shops B is a ±12,421 square foot, fully leased multi-tenant retail center. The asset generates an NOI of $560,074 and is offered at $10,670,000, representing a 5.25% cap rate.
Located at the highly trafficked intersection of 91st Avenue and Cardinals Way in the heart of Glendale's premier sports and entertainment district, this retail opportunity is strategically positioned within one of the most dynamic trade areas in the Southwest. Surrounded by major regional attractions including State Farm Stadium, Desert Diamond Arena, and Westgate Entertainment District, the property benefits from exceptional visibility, strong consumer traffic, and year-round activity driven by professional sports, concerts, tourism, and large-scale events. The area attracts millions of visitors annually and serves as a major destination for both local residents and out-of-state travelers.
The site offers outstanding accessibility with immediate proximity to Loop 101 and Interstate 10, exposing the property to substantial daily traffic counts and seamless regional connectivity throughout the Phoenix metropolitan area. Positioned within a rapidly growing trade area supported by strong residential expansion, hospitality demand, and a significant daytime employment base, the property is ideally situated to capture consistent consumer spending from visitors, employees, and nearby households alike.
Surrounding national retailers, entertainment venues, hotels, restaurants, and experiential concepts create a powerful synergy that drives sustained foot traffic throughout the day and evening. With its irreplaceable location in Glendale's dominant entertainment corridor, strong market fundamentals, and continued growth surrounding the West Valley, the property represents a rare opportunity to invest in one of Arizona's most active and high-profile retail destinations.
Investment highlights
- Attractive in-place Returns: The offering is priced at $10,670,000 with a current cap rate of 5.25% and a Net Operating Income of $560,074, delivering a compelling risk-adjusted return profile in one of the fastest-growing markets in the United States.
- Competitive Price Per Square Foot: At 12,421 total rentable square feet, the property offers investors an efficient and attractively priced asset at approximately $859 per square foot, well-supported by the surrounding density of retail, hospitality, entertainment, and residential demand drivers in the immediate trade area.
- Prime Location in a High-growth Entertainment Corridor: The property is strategically located in Glendale, Arizona, adjacent to State Farm Stadium, Westgate Entertainment District, and Desert Diamond Arena, placing it at the center of one of the most visited sports and entertainment destinations in the American Southwest, drawing millions of visitors annually.
- Exceptional Market Fundamentals: Glendale ranks 5th nationally in jobs-per-resident ratio and is home to over a billion dollars in experiential retail currently under construction, reflecting a robust and expanding economic base that continues to attract businesses, residents, and investors to the region.
- Brand-new Construction: The property is a newly constructed asset, offering investors the significant benefits of reduced near-term capital expenditure, modern construction standards, and long-term structural durability with minimal deferred maintenance concerns.
- 100% Occupancy With Diverse Tenant Mix: The property is fully leased with a complementary mix of established regional and national tenants across food and beverage, service, retail, and health and wellness, providing immediate, stable cash flow from day one of ownership.
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