Fully Occupied Surprise Retail
15557 15569 15601 15609 W Bell Rd Surprise, AZ 85252
15557 15569 15601 15609 W Bell Rd, Surprise, AZ, 85252
$19,800,000
For Sale
$19,800,000
Anchored by Planet Fitness, 100% occupied retail plaza.
Property Size64,101 SF
Price / SF$308.89
Days on Market113
Property Features for 15557 15569 15601 15609 W Bell Rd
General Information
- Standard status
- Active
- Size
- 64,101 SF
- Property subtype
- Retail
Listing agency
Phoenix Commercial Advisors
(602) 385-1328
Listed by
Danny Gardiner · License #SA536326000
Source
Phoenixcommercialadvisors
Added: Apr 1 Updated: Jul 10 at 1:16PM Checked: Jul 21 at 4:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Phoenix Commercial Advisors
Investment Insights
Based on property information with market context.
Mountain Vista Plaza is a 64,101-square-foot shopping center that is 100% occupied. Anchored by Planet Fitness, which has over 2,700 fitness club locations and over 19.7 million members, the center benefits from predictable, frequent traffic. The Planet Fitness location ranks in the Top 25% in Arizona. The property offers upside for investors through below-market rents in both the shops and the anchor leases, allowing for mark-to-market growth. Recent capital improvements include a roof recoat and asphalt reseal and stripe in 2024, with the roof coming with a 10-year warranty. The tenant lineup delivers essential goods and services matched to the daily needs of the surrounding community. Strong historic occupancy, lease extensions, and recent lease-up show the strength of the center and demand of the trade area. The property is located less than 1.5 miles from the Loop 303 Freeway, which has spurred new housing and population growth in the Surprise market. It is also less than 2 miles from the Surprise City Hall facilities and from Surprise Stadium, the No. 1 Spring Training Stadium that plays host to the Texas Rangers & Kansas City Royals. Food away from home spending is nearly $318,000,000 within 5 miles, helping to boost the restaurant sales in the shopping center. The population exceeds 207,000 people within 5 miles and is projected to grow by another 1.8% annually. Bell Road is the primary east-west commercial corridor through Surprise with approximately 40,200 vehicles per day driving by the site. Surprise’s population has surpassed 180,000 and is projected to grow by 40% by the end of the decade, with job growth expected to outpace that, driving continual demand for daily needs retail.
Key Highlights
- 100% Occupied 64,101 SF center anchored by a strong performing Planet Fitness (Top 25% in Arizona).
- 6.46% Cap Rate with upside potential through below‑market rents.
- Recent capital improvements: roof recoat and asphalt reseal/stripe completed in 2024 with a 10‑year roof warranty.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.35M | $21.00 |
| − Vacancy | −$114.4k | −$1.79 |
| EGI | $1.23M | $19.22 |
| − OpEx | −$369.5k | −$5.76 |
| NOI | $862.2k | $13.45 |
64,101 SF · lease $21.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$12.32M
$10.78M – $14.37M
NOI $862,191 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.77M
$17.30M – $23.06M
NOI $1,383,751 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
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FAQs
What type of property is this?
Shopping center - Anchored by Planet Fitness, 100% occupied retail plaza.
Where is this shopping center located?
The property is located at 15557 15569 15601 15609 W Bell Rd Surprise, AZ.
What is the asking price?
The asking price for this property is $19,800,000.
What are key features of this property?
This property features: 100% Occupied 64,101 SF center anchored by a strong performing Planet Fitness (Top 25% in Arizona).; 6.46% Cap Rate with upside potential through below‑market rents.; Recent capital improvements: roof recoat and asphalt reseal/stripe completed in 2024 with a 10‑year roof warranty.
