Current Use by Public Records
- Lifestyle centers
Property Details for 306 Ocotillo Ave
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 47,000 square foot shopping center in Benson, Arizona, presents a compelling investment opportunity. Boasting a 7% cap rate and a strong NOI of $241,395, the property is anchored by Tractor Supply Company, a long-term tenant since 2013, who recently exercised a lease extension. Other tenants include Sentek USA Inc. (with a 10-year lease through March 2028 and expanding their space), House of Iron Crossfit, and Vay Beauty Salon & Co. The center features a diverse tenant mix representing home improvement, agricultural technology, fitness, and beauty sectors, offering resilience against economic downturns. With 85% occupancy, there's significant potential for value appreciation through lease-up of the remaining vacant spaces. Recent renovations in 2022 and 2024 enhance the property's appeal. The property sits on a 169,884 square foot lot, zoned B-2 General Business, and enjoys a prime location near Interstate 10, alongside major retailers like Safeway and Walmart, and Benson Hospital. The asking price is $3,448,500, translating to a price per square foot of $73.37. Average rents are $6.20 PSF. The property's strategic location, strong tenant base, and potential for future growth make it an attractive investment prospect. The APN is 12319008C & 12319008E.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Benson
- County
- Cochise
- State
- Arizona
- Longitude
- -110.308
- Latitude
- 31.9673
