Surprise, AZ Shopping Center For
For Sale
Contact for pricing
12751-12875 W Bell Rd, Surprise, AZ
156,647 SF shopping center anchored by 99 Cent Only.
Property Size156,647 SF
Lot Size13.97 Acres
Price / SF$174.92
Days on Market1572
Property Features for 12751-12875 W Bell Rd
General Information
Standard status
Active
Size
156,647 SF
Lot size
13.97 Acres
Property subtype
RETAIL
Properties For Sale
at 12751-12875 W Bell Rd Contact us- Floor
- 1
- Size
- 1,082 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- Yes
Crossroads Towne Center Shopping Center
Contact the broker for more information.
Contact us
Listing Agency:
Phoenix West Commercial
(623) 535-9707
Listed By:
Cameron Akins
(480) 512-4137
Source:
Moodyscre
Added: May 25, 2022
Changed: Sep 2
Last Checked: Sep 12 at 11:01AM
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 West Commercial
Investment Insights
Based on property information with market context.
This 156,647 square foot shopping center is located in Surprise, Arizona. Anchored by a 99 Cent Only store with 35 years of operating history, the center also features junior anchors such as Big 5 Sporting Goods, Harbor Freight Tools, Peter Piper Pizza, and Other Mothers Clothes. The property is 85% occupied, with a mix of national and local tenants including Subway, Metro PCS, and St. Vincent De Paul. A 2,000 square foot pad site is currently occupied by Batteries Plus. All tenants operate under NNN leases. The property offers a value-add opportunity through lease-up of vacant spaces. Recent capital improvements include roof recoating for approximately one-third of the center.
Key Highlights
- Value‑add opportunity through lease‑up of vacant spaces.
- Anchored by a long‑standing (35 years) 99 Cent Only store.
- High occupancy rate of 85% with a mix of national and local tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$2,106,980
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$42,139,600
$42.1M
Cap Rate 7%
$30,099,714
$30.1M
Cap Rate 9%
$23,410,889
$23.4M
Market Conditions
NOI Build-Up for 156,647 SF
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.
Gross rent
$3.29M $21.00/SF
− Vacancy
−$279.6K −$1.79/SF
EGI
$3.01M $19.22/SF
− OpEx
−$903.0K −$5.76/SF
NOI
$2.11M $13.45/SF
Area
Surprise, AZ
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$42,139,600
Cap Rate 7%
$30,099,714
Cap Rate 9%
$23,410,889
Alternative Uses
Best Use
Retail
$30.10M
$26.34M – $35.12M
NOI $2,106,980 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$48.31M
$42.27M – $56.36M
NOI $3,381,545 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Hotels & Casinos 16%
Burger King
Dining
7,397 visits/mo
0.3 miles
Comfort Inn & Suites Surprise Near Sun City West
Hotels & Casinos
1,453 visits/mo
0.5 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Grand Bell Center Plaza — 16551 N Dysart Rd, Surprise, AZ 85378
- Crossroads Towne Center — 12751-12875 W Bell Rd, Surprise, AZ 85378
- Shops at Crossroads Towne Center Surprise — 12875 W Bell Rd, Surprise, AZ 85378
Frequently Asked Questions
What type of property is this?
Shopping center - 156,647 SF shopping center anchored by 99 Cent Only.
Where is this shopping center located?
The property is located at 12751-12875 W Bell Rd Surprise, AZ.
What is the asking price?
The asking price for this property is $27,400,000.
What are key features of this property?
This property features: Value‑add opportunity through lease‑up of vacant spaces.; Anchored by a long‑standing (35 years) 99 Cent Only store.; High occupancy rate of 85% with a mix of national and local tenants.
