3404 E Thomas Rd Phoenix, AZ 85018

This value add strip mall property is positioned in a high traffic retail corridor with frontage on Thomas Road carrying approximately 40,834 vehicles per day and sits directly across from 320 new multifamily units coming online. The center is 86% occupied with 2 vacant suites and features below market rents averaging approximately $8.00 per square foot in a market achieving closer to $18.00 per square foot, creating meaningful near term upside through lease up and re pricing. Just down the road is a dominant neighborhood retail center anchored by a Walmart in the 13th percentile and a Home Depot in the 5th percentile for visitation according to Placer.ai. Combined with limited nearby retail supply, this high traffic setting supports durable tenant demand and immediate upside. 1.30%