21043 Cave Creek Rd Phoenix, AZ 85024
- Strip malls
- 40,713 SF
- 1.06 lot acres
Current Use by Public Records
- Brian Stevens - State Farm Insurance Agent / Home Insurance Agency / Insurance Agency
- Quiznos / Sandwich Shop
- Fancy Nails / Nail Salon
- Azco Properties LLC / Real Estate Agency
- Moonstone & Muro Hair Salon / Hair Salon
Property Details for 21043 Cave Creek Rd
- Year built
- 2002
- Construction
- CONCRETE
- Lot size
- 1.06 lot acres
- Property size
- 40,713 SF
- Zone code
- C-2
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 213-10-025
- APU
- 21310025
Description
This exceptional 41,000 square foot Class B medical retail center, built in 2000 and renovated in 2015, presents a unique investment opportunity in Maricopa County. Situated on a 5-acre lot with convenient access to Loop 101, the property boasts 18 suites, offering flexible space options ranging from a minimum of 1,340 square feet to a maximum contiguous space of 5,257 square feet. Currently, 6,597 square feet are available for lease, providing immediate occupancy potential for multiple tenants. The center benefits from ample parking with 40 spaces and prominent monument signage, ensuring high visibility and attracting a substantial customer base. The location is strategically positioned on Cave Creek Road, near Phoenix, Arizona, within a thriving area characterized by high average household incomes exceeding $75,000 within a 3-mile radius. This prime location, combined with the presence of established national and local tenants, creates a robust and attractive environment for new businesses. The property's blend of established tenancy and available space offers a compelling opportunity for growth and expansion within a dynamic market. The single building structure provides efficient management and streamlined operations.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $7,225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,740,000
- 6.5%
- $6,355,000
- 7%
- $6,540,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $6,135,000
- Geo Method
- $6,445,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $6,890,000
- Retail
- $8,165,000
- Mixed-Use
- $8,165,000
- Hospitality
- $7,920,000
- Educational
- $6,650,000
- Residential Income
- $7,320,000
- Energy
- $8,180,000
- Income-Based Land
- $7,370,000
- Food Service
- $6,195,000
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.03
- Latitude
- 33.679
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA