3434 Greenway Rd Phoenix, AZ 85053-3884
- Strip malls
- 8,648 SF
- 5.96 lot acres
Current Use by Public Records
- JT Gyros / Gyro Restaurant / Greek Restaurant
- AZ 3D Nail & Spa / Nail Salon
- Boost Mobile / Cell Phone Store
- Little Caesars Pizza / Pizza Restaurant / Fast Food Restaurant
- Rancho Encanto Plaza / Grocery Store / Shopping Mall
Property Details for 3434 Greenway Rd
- Year built
- 1988
- Construction
- CONCRETE
- Lot size
- 5.96 lot acres
- Property size
- 8,648 SF
- Zone code
- C-1
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 207-39-998C
- APU
- 20739998C
Description
Rancho Encanto, a 70,439-square-foot shopping center in Phoenix, Arizona, presents a compelling investment opportunity. This single-story, 16-unit property, built in 1988, sits on six acres at the hard corner of Greenway Road and 35th Avenue, boasting exceptional visibility and accessibility. The center benefits from its location near Interstate 17, providing convenient access to a substantial employment base including USAA, American Express, and Discover. Currently 88% leased to a diverse tenant mix including Aarons Furniture, Little Caesars, Smart & Final, firehouse subs, and Boost Mobile, the center features a strong roster of long-term occupants, many with significant tenure. Smart & Final, a key anchor tenant, boasts annual sales of $493 per square foot. The property features ample parking and attractive curb appeal, enhanced by approximately $2 million in previous exterior renovations. The asking price is $10,950,000, translating to $155.45 per square foot. The weighted average lease term (WALT) is 6.1 years. An optional below-market debt assumption is available. The property's location within a densely populated residential area, combined with its high traffic count (nearly 60,000 vehicles daily at the intersection), positions it for continued success and potential for increased yield through market rent adjustments and leasing the remaining vacancy. The property's APN is 207-39-998C.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $10,550,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $11,705,000
- 6.5%
- $11,295,000
- 7%
- $10,500,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $9,620,000
- Geo Method
- $11,200,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $11,065,000
- Retail
- $12,750,000
- Mixed-Use
- $12,500,000
- Hospitality
- $12,330,000
- Educational
- $12,460,000
- Residential Income
- $11,620,000
- Energy
- $12,560,000
- Income-Based Land
- $11,615,000
- Food Service
- $11,475,000
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.132
- Latitude
- 33.6263
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
