Neighborhood Retail Center with
For Sale
$2,750,000
973 E Cottonwood Ln, Casa Grande, AZ 85122
Well-maintained strip retail center with superior CMU construction and approximately 85 parking spaces.
Property Size14,901 SF
Days on Market82
Property Features for 973 E Cottonwood Ln
General Information
Standard status
Active
Size
14,901 SF
Total Parking Spaces
85
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$188,505
Additional Details
Traffic Count
41,000 vehicles/day
Building Details
Building Size
14,901 SF
Year Built
2006
Units
11
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Josh Jenkins · License #BR687098000 (AZ)
(602) 932-5916
Source:
Matthews
Added: Jun 16
Changed: Sep 3
Last Checked: Sep 5 at 3:40AM
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 Matthews
Investment Insights
Based on property information with market context.
Cottonwood Village is a well-maintained neighborhood retail center with superior CMU construction and an emphasis on building durability. The property features a 2018 new foam roof and documented exterior and systems maintenance, including exterior painting, selected exterior lighting replacements, regularly serviced HVAC units, plus recent parking lot patching, resealing, and re-striping. The center is currently at 100% occupancy with a mix of long-term tenancy and newly signed leases, and it has a history of very low turnover.
Positioned at one of the busiest intersections within Casa Grande, the center benefits from strong traffic counts of approximately 41,000 along Cottonwood and Trekell Roads and serves a growing, infill trade area. The remarks also note rapid population growth in the region and proximity “minutes from” Lucid Motors’ AMP 1 advanced manufacturing project.
With approximately 85 parking spaces, the property provides convenient on-site parking for a range of future tenancy. The current tenant reimbursement is described as rental tax only, creating an opportunity for the new owner to convert leases to NNN over time through lease rollovers or modifications.
Positioned at one of the busiest intersections within Casa Grande, the center benefits from strong traffic counts of approximately 41,000 along Cottonwood and Trekell Roads and serves a growing, infill trade area. The remarks also note rapid population growth in the region and proximity “minutes from” Lucid Motors’ AMP 1 advanced manufacturing project.
With approximately 85 parking spaces, the property provides convenient on-site parking for a range of future tenancy. The current tenant reimbursement is described as rental tax only, creating an opportunity for the new owner to convert leases to NNN over time through lease rollovers or modifications.
Key Highlights
- Cottonwood Village is at a busy intersection with strong traffic counts: approx. 41,000 vehicles on Cottonwood and Trekell Rd
- Well‑maintained strip retail center with a new foam roof in 2018 and regularly serviced HVAC units
- Exterior updates include exterior painting, exterior lighting replacements, and 2025 parking lot patching, resealing, and re‑stripe
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
$146,291
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
5.32%
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%
$2,925,820
$2.9M
Cap Rate 7%
$2,089,871
$2.1M
Cap Rate 9%
$1,625,456
$1.6M
Market Conditions
NOI Build-Up for 14,901 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
$223.5K $15.00/SF
− Vacancy
−$14.5K −$0.98/SF
EGI
$209.0K $14.03/SF
− OpEx
−$62.7K −$4.21/SF
NOI
$146.3K $9.82/SF
Area
Pinal County, AZ
Vacancy
6.50%
Lease Rate
$15.00 /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%
$2,925,820
Cap Rate 7%
$2,089,871
Cap Rate 9%
$1,625,456
Alternative Uses
Best Use
Retail
$2.09M
$1.83M – $2.44M
NOI $146,291 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.12M
$3.60M – $4.81M
NOI $288,368 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
41,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 51%
Shops & Services 37%
Dining 6%
Home Improvements & Furnishings 4%
Safeway
Groceries
47,055 visits/mo
0.1 miles
Circle K
Shops & Services
15,736 visits/mo
0.1 miles
Super Star Car Wash
Shops & Services
11,486 visits/mo
0.1 miles
7-Eleven
Shops & Services
6,774 visits/mo
0.4 miles
Scooter's Coffee
Dining
5,742 visits/mo
0.0 miles
Demographics for 85122, AZ
55,063
Population
24,238
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
56.4 sq mi
ZIP Area
976
Density / Sq Mi
$64,243
Median Household Income
$38,679
Median Earnings
$1,289
Median Rent
$242,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Well-maintained strip retail center with superior CMU construction and approximately 85 parking spaces.
Where is this strip mall located?
The property is located at 973 E Cottonwood Ln Casa Grande, AZ.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Cottonwood Village is at a busy intersection with strong traffic counts: approx. 41,000 vehicles on Cottonwood and Trekell Rd; Well‑maintained strip retail center with a new foam roof in 2018 and regularly serviced HVAC units; Exterior updates include exterior painting, exterior lighting replacements, and 2025 parking lot patching, resealing, and re‑stripe
