Current Use by Public Records
- Lifestyle centers
Property Details for 50-190 Houghton Rd
- Year built
- 1999
- Lot size
- 7.19 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Exceptional investment opportunity: Montesa Plaza, a 75,643 square foot Class B shopping center in Tucson, Arizona. This multi-tenant property, built in 1999, boasts 95% occupancy with 14 tenants across four buildings situated on a 7.19-acre lot (APN 133-48-128F). The property features a desirable NNN lease structure and a strong Net Operating Income (NOI) of $1,364,973, resulting in an 8.58% cap rate. Priced at $15,900,000 ($223.42/sq ft), Montesa Plaza offers a compelling return on investment. Key tenants include Galaxy Theatres (the only theatre in east Tucson), Starbucks, UPS Store, and Robek's Juice, contributing to a stable and diverse tenant mix. Located at 50-190 S Houghton Road (zip code 85748), the center benefits from high visibility and accessibility with five points of ingress/egress. The property is zoned C-2, City of Tucson. The long-term tenancy is highlighted by many tenants occupying the space since its construction, and a manageable rollover picture with only 9% of the NRA expiring through March 2027. The affluent east Tucson location, with average household incomes of $104,000, further supports the property's strong performance and future potential. This well-maintained property presents a rare opportunity for investors seeking a stable, high-performing retail asset in a prime location.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tucson
- County
- Pima
- State
- Arizona
- Longitude
- -110.774
- Latitude
- 32.2203
