28570 El Mirage Rd Peoria, AZ 85383

This exceptional 22,628 square foot shopping center in Peoria, Arizona, presents a compelling value-add investment opportunity. Located at the entrance to the highly-rated Vistancia master-planned community, this two-building, single-story property boasts 100% occupancy with seven corporate-guaranteed tenants. Built in 2008, the property sits on 2.63 acres and features a strong NOI of $607,424, yielding a current cap rate of 6.79% and a pro-forma cap rate of 9.06%. The asking price is $8,950,000 ($395.53/sq ft). Benefitting from staggered lease terms, rent bumps, and a necessity-based tenant mix, including a shadow-anchored Walgreens, this investment offers significant upside potential. The affluent community surrounding the property, with over 17,000 housing units and average household incomes exceeding $157,000 within a one-mile radius, ensures a robust customer base. Peoria's rapid growth further enhances the long-term value of this strategically located asset. The property's location at the gateway to Vistancia, a top-ranked master-planned community, provides exceptional visibility and accessibility. This is a rare opportunity to acquire a well-positioned, high-performing retail center in one of Arizona's fastest-growing areas. The property's APN is 503-99-988 and is offered as a 1031 exchange opportunity. The lease type is NNN.