3805 Riv Rd Tucson, AZ 85741-3795

Property Details for 3805 Riv Rd

Year built

2005

Construction

FRAME

Lot size

2.35 lot acres

Property size

21,210 SF

Property type

Strip malls

Property subtype

Shopping centers

APN

101-05-1060

APU

101051060

Description

The Shoppes at Orange Grove, a Class A, 21,210 square foot shopping center in Tucson, Arizona, presents a compelling investment opportunity. This stabilized, multi-tenant property boasts six tenants with a 100% occupancy rate and a current NOI of $367,500, yielding a 6.68% cap rate. Built in 2006, the single-story building sits on a 2.35-acre lot and features a NNN lease structure with 3% annual rent bumps, ensuring consistent income growth. The property is strategically located at 3805, 3815, and 3835 W River Rd, Tucson, AZ 85741, offering exceptional visibility and accessibility due to its proximity to Interstate 10, River Road, and Orange Grove Road. The high-traffic area includes nearby retailers such as Costco, Top Golf, and Home Depot. The property is zoned HI, providing flexibility for various business types. The asking price is $5,500,000, representing a price per square foot of $259.31. The current leases have a remaining term of five years, commencing September 5, 2023. This property is offered as a 1031 exchange opportunity. The ownership entity is Orange Grove Center, LLC. This is a rare opportunity to acquire a high-performing retail asset in a thriving Tucson location.

Location Insight

City

Tucson

County

Pima

State

Arizona

Longitude

-111.047

Latitude

32.3213

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments