Current Use by Public Records
- Retail properties & Spaces
Property Details for 13427 Westgate Dr
- Year built
- 2004
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fully occupied, multi-tenant auto repair strip center in Surprise, Arizona. The property, boasting 11,557 square feet across two single-story buildings, is currently listed at $3,100,000, reflecting a compelling $268.24 per square foot price and a 6.93% cap rate. The property enjoys a strong net operating income (NOI) of $214,711, supported by 100% occupancy across three tenants, each with over five years of operational history at this location. Recent improvements exceeding $110,000 have been completed, encompassing a full parking lot resurfacing and exterior landscaping enhancements. The center benefits from a prime location adjacent to an Arizona Emissions Testing site, ensuring consistent customer traffic. Situated at the intersection of Bell Road and Grand Avenue, the property enjoys high visibility and significant traffic counts, exceeding 50,000 vehicles per day on Bell Road and 40,000 vehicles per day on Grand Avenue. Furthermore, its proximity to major retirement communities like Sun City West and Sun City Grand, along with a dense retail corridor featuring prominent retailers such as Target, Lowe's, Best Buy, Walmart, and Home Depot, guarantees a robust and stable customer base within a 5-mile radius exceeding 230,000 residents. Built in 2004, the property includes built-in rent bumps, offering future income growth potential. This is a rare opportunity to acquire a high-performing, well-located commercial property with a proven track record and significant upside.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Surprise
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.35
- Latitude
- 33.6397
