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    121 E Southern Ave Tempe, AZ 85282

    For Sale
    $22,750,000

    Dominant shopping center anchored by LA Fitness in Tempe, AZ.

    Property size:
    91,066 SF
    Lot size:
    8.03 Acres

    Property Features for 121 E Southern Ave

    General Information

    Size
    91,066 SF
    Lot size
    8.03 Acres

    Source: Patrick Toomey Agent Patrick Toomey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    LA Fitness Anchored Shopping Center

    This 91,066 square foot shopping center, anchored by LA Fitness, is located at the corner of East Southern Avenue and South Mill Avenue in Tempe, Arizona. The property benefits from high traffic counts of approximately 62,000 vehicles per day. The City of Tempe, home to Arizona State University, is experiencing rapid growth within the greater Phoenix MSA, with a projected population increase of 50% over the next 10 years. LA Fitness, the nation's largest non-franchised fitness club operator with over 4 million members and 800 clubs nationwide, anchors the property. A mix of local and regional tenants complements LA Fitness, attracting over 600,000 annual visitors. The LA Fitness location is one of the best performing units in the Metro Phoenix area, with over 25 years of occupancy. The tenant has 8.2 years remaining on its current lease term. The property is currently 100% occupied with a weighted average lease term (WALT) of 8.3 years.
    Location Intelligence

    Current Use by Public Records

    Valley Fair Liquor Liquor Store Valley Fair Shopping ... Business Center

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Coinstar Kiosk | Bitcoin ATM, Coinstar Kiosk | Bitcoin ATM, Huntington Square Shopping Center, Southern Plaza

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9375717
    Latitude
    33.3925356

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    FAQs

    What type of property is this?
    Shopping center - Dominant shopping center anchored by LA Fitness in Tempe, AZ.
    Where is this shopping center located?
    The property is located at 121 E Southern Ave Tempe, AZ.
    What is the asking price?
    The asking price for this property is $22,750,000.
    What are key features of this property?
    This property features: - LA Fitness Anchored: Strong performing unit with over 25 years occupancy.; - High Traffic Location: Located at a highly trafficked corner (+/- 62,000 VPD).; - Stabilized Investment: 100% occupancy and a weighted average lease term (WALT) of 8.3 years.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    121 E Southern Ave Tempe, AZ 85282
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