Property Details for 11901-11941 1St Ave

Year built

2007

Lot size

6.58 lot acres

Property size

41,642 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 41,642 square foot, 14-tenant retail center in Oro Valley, Arizona, presents a compelling investment opportunity. Anchored by a long-term Ace Hardware and featuring a diverse mix of national and local tenants including Subway, Edward Jones, Anytime Fitness, and Athletico Physical Therapy, the property boasts 100% occupancy and a strong NOI of $709,995. Built in 2007, the four-building, single-story center sits on a 6.58-acre lot and benefits from recent parking lot improvements (2023) and attractive custom art installations. The property enjoys a prime location with excellent visibility and access from Tangerine Road and 1st Avenue, experiencing high traffic counts (±40,155 vehicles daily at the intersection). Situated within affluent neighborhoods, including Rancho Vistoso and Catalina Shadows, the center serves a high-income demographic (average household income of nearly $145,000 within 1 mile). The center's consistent performance is further evidenced by its strong year-over-year visit growth (nearly 663,000 visits in the past 12 months, according to Placer.ai data), placing it in the top 10% of Tucson centers based on visits per square foot. The stabilized investment offers a 6.89% cap rate and an asking price of $10,300,000 ($247.35/sq ft). The majority of tenants have been in place for over a decade, with built-in rent bumps providing consistent income growth. APN: 224-02-1710, 224-02-1720.

Location Insight

City

Oro Valley

County

Pima

State

Arizona

Longitude

-110.963

Latitude

32.4224