311 Main St Eloy, AZ 85131
- Office buildings
- 2,220 SF
- 0.06 lot acres
Current Use by Public Records
- Office buildings
Property Details for 311 Main St
- Year built
- 1948
- Construction
- CONCRETE
- Lot size
- 0.06 lot acres
- Property size
- 2,220 SF
- Property type
- Office buildings
- APN
- 405-03-0420
- APU
- 405030420
Description
This exceptional retail investment opportunity presents a 5,345-square-foot strip mall located at 311, 313, and 315 N. Main St in Eloy, Arizona. The property, built in 1948 with partial renovations in 2024, boasts a strong 10.26% cap rate and a net operating income (NOI) of $2,358. Currently configured as three separate units (2,220 SF, 2,250 SF, and 875 SF), this property offers significant flexibility for various retail uses. The asking price is $750,000, translating to $140.32 per square foot. Situated on a 7,500-square-foot lot, the property includes five parking spaces and benefits from a highly visible Main Street location near the intersection with Frontier, ensuring excellent foot and vehicle traffic. The C2 zoning allows for a variety of commercial uses. This property is a compelling investment opportunity in a rapidly growing area, fueled by the presence of major companies like Lucid, Nikola, Kohler, and Proctor & Gamble. The strong rental demand and low supply in Eloy make this a particularly attractive proposition. The gross lease structure simplifies management, and the property is not subject to a ground lease. The property's three units are currently set up as office spaces, but the adaptable layout allows for a variety of retail configurations. This is a chance to capitalize on Eloy's burgeoning commercial market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $215,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $260,000
- 6.5%
- $250,000
- 7%
- $265,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $265,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $245,000
- Retail
- $270,000
- Mixed-Use
- $225,000
- Hospitality
- $300,000
- Educational
- $240,000
- Residential Income
- $280,000
- Energy
- $260,000
- Income-Based Land
- $240,000
- Food Service
- $235,000
Location Insight
- Map
- Local Demand
- City
- Eloy
- County
- Pinal
- State
- Arizona
- Longitude
- -111.555
- Latitude
- 32.7524
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
