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Fully Occupied Surprise Retail Plaza
For Sale
$19,435,000

15557 15569 15601 15609 W Bell Rd, Surprise, AZ 85252

Anchored by Planet Fitness, 100% occupied retail plaza.

Property Size64,101 SF
Price / SF$303.19
Days on Market206

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
Listed By: Danny Gardiner · License #SA641133000
Source: Phoenixcommercialadvisors
Added: Apr 1 Changed: Oct 10 Last Checked: Oct 23 at 4:10AM

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

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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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$862,191
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,243,820 $17.2M
Cap Rate 7%
$12,317,014 $12.3M
Cap Rate 9%
$9,579,900 $9.6M
Market Conditions
NOI Build-Up for 64,101 SF
Gross rent
$1.35M $21.00/SF
− Vacancy
−$114.4K −$1.79/SF
EGI
$1.23M $19.22/SF
− OpEx
−$369.5K −$5.76/SF
NOI
$862.2K $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 Rate 5%
$17,243,820
Cap Rate 7%
$12,317,014
Cap Rate 9%
$9,579,900

Alternative Uses

Best Use
Retail
$12.32M
$10.78M – $14.37M (±1% cap)
NOI $862,191 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.77M
$17.30M – $23.06M (±1% cap)
NOI $1,383,751 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

923
Businesses Nearby
116k
Monthly Visits Nearby
Under-served
Demand for This Use

Foot Traffic Nearby

Groceries 40% Dining 31% Shops & Services 28% Beauty & Spa 1%
Fry's Groceries
46,591 visits/mo 0.1 miles
Fry's Fuel Center Shops & Services
16,737 visits/mo 0.0 miles
SONIC Drive In Dining
11,506 visits/mo 0.1 miles
KFC Dining
9,302 visits/mo 0.1 miles
Chevron Shops & Services
7,083 visits/mo 0.0 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

7% 2020
6.3% 2021
5.5% 2022
5.3% 2023
5.5% 2024
5.8% 2025

Similar Off Market Nearby

  • Mountain Vista Plaza — 15557 W Bell Rd, Surprise, AZ 85374
  • Intelligence LLC — 15003 w bell rd #100, surprise, az 85374
  • Coinstar Kiosk | Bitcoin ATM — Kroger - Fry's Food Stores, 15510 W Bell Rd, Surprise, AZ 85374

Frequently Asked Questions

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 $19,435,000.
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.
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