Current Use by Public Records
- Retail properties & Spaces
Property Details for 70948 Us-60
- Year built
- 1965
- Lot size
- 2.75 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity encompasses a thriving mixed-use property situated on 2.75 acres in Wenden, Arizona. The property consists of nine buildings totaling 11,421 square feet, including a retail strip center featuring a grocery store, restaurant (cafe), laundromat, and hardware store. The center generates a substantial net operating income (NOI) of $141,476, representing a compelling 16.64% cap rate on the $850,000 asking price. The property also includes a roughly 2,500-square-foot residential home with a detached garage and storage shed, offering additional income potential or owner-occupancy. Three separate detached units present the possibility of conversion into casitas. The property is zoned C-2 & MHS and includes all inventory, fixtures (a detailed list is available), a liquor license, and a lottery license. Located conveniently near Alamo Lake State Park (within 35 miles), this property benefits from its location in an Opportunity Zone, potentially offering advantageous tax benefits. The property's 8,777 square feet of net rentable space is priced at $74.42 per square foot. This turnkey operation presents a rare chance to acquire a multi-faceted business with significant growth potential. The property consists of four parcels (APN: 308-09-157G,157F,158B,157C) and has been operating since 1965. The lease commenced July 1, 2015, and expires June 30, 2025, with approximately 0.6 years remaining. Currently, there are no tenants. This is an owner/user investment.
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
- Wenden
- County
- La Paz
- State
- Arizona
- Longitude
- -113.541
- Latitude
- 33.8223
