22 Easy St Carefree, AZ 85377-4494
- Retail space
- 3,696 SF
- 0.10 lot acres
Feb 23, 2025
Current Use by Public Records
- Wild Holly Gallery / Art Gallery
Property Details for 22 Easy St
- Year built
- 1987
- Construction
- CONCRETE
- Lot size
- 0.10 lot acres
- Property size
- 3,696 SF
- Zone code
- C-C
- Property type
- Retail space
- APN
- 216-83-007
- APU
- 21683007
Description
This exceptional Carefree, Arizona storefront presents a unique investment opportunity. The 5,967 square foot, two-story building, located at 22 Easy St, boasts a Class B rating and is currently 100% occupied by Wild Holly Gallery under a NNN lease expiring August 31, 2025. The lease commenced September 1, 2024, with a one-year term and no options. The property features a strong Net Operating Income (NOI) of $96,000, yielding a 7.25% cap rate. Renovated in 2016, the building sits on a fee-simple lot with Commercial zoning, allowing for diverse uses including retail, restaurant, residential, and hospitality. The seller will lease back the property for 8-12 months post-closing, providing immediate income. The asking price is $1,325,000, significantly below replacement cost, offering substantial potential for appreciation given the property's historical significance and prime location in the desirable Town of Carefree (Maricopa County, AZ, zip code 85377). The APN is 216-83-007. This is a single-tenant property with a sale/leaseback investment structure.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Carefree
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.922
- Latitude
- 33.8251
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
