8946 Germann Rd, Mesa, AZ 85212-5301
- Individual retail properties
- 27,234 SF
- 4.01 lot acres
Current Use by Public Records
- Elevate Trampoline Park - Queen Creek / Arcade & Gaming Center / Family Recreation Center
Property Details for 8946 Germann Rd
- Year built
- 2019
- Construction
- CONCRETE
- Lot size
- 4.01 lot acres
- Zone code
- LI
- Property type
- Individual retail properties
- APN
- 304-62-953
- APU
- 30462953
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 23, 2021 | — | Etp Funding LLC | Etp Queen Creek Building LLC | Intrafamily Transfer · related | $24.2M · Western State Bank |
| Mar 28, 2019 | — | Etp Queen Creek Building LLC | Etp Funding LLC | Warranty Deed | $4.2M · Western State Bank |
| Oct 16, 2017 | $695,000 | Etp Funding LLC | Guapos Lllp Los | Grant Deed | — |
| Dec 23, 2009 | — | Losguapos Lllp | Darl J Andersen | Grant Deed · related | — |
| Jan 20, 2006 | $710,000 | Andersen,darl J & Kaye L | Wiltbank Ronald E Trust | Warranty Deed | — |
Description
This exceptional investment opportunity encompasses two modern retail buildings situated on a 4.01-acre lot at 8946 and 8950 E Germann Rd, Mesa, Arizona, zip code 85212, in Maricopa County. The property boasts a combined 40,500 square feet of retail space, with one building measuring approximately 24,459 square feet constructed in 2020 and the second building comprising approximately 10,500 square feet, completed in 2022. The buildings are in excellent condition and benefit from a strong net operating income (NOI) of $708,465, resulting in an attractive 6.25% capitalization rate. This compelling offering also includes a cell tower lease, adding further value to the investment. The asking price for this exceptional property is $11,337,000. This triple net lease investment presents a rare opportunity to acquire a high-performing retail asset in a prime Mesa location. The property's size, modern construction, strong NOI, and attractive cap rate make it an ideal addition to any investment portfolio. The location offers excellent visibility and accessibility, ensuring strong tenant occupancy and potential for future growth. This is a turnkey investment ready for immediate returns.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $9,660,000
- AI Estimate
- $9,660,000
Market price range: $5.11M - $10.4MMarket price range: $5.11M - $10.4M -
Alternative Use
- Use
- Estimation
- GYM, HEALTH SPA
- $7,420,000 Current use
- AUTO REPAIR, GARAGE
- $12,000,000 Change: +62% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $8,480,000 Change: +14% Conversion: Difficult
- RETAIL STORES
- $7,140,000 Change: -4% Conversion: Difficult
- MEDICAL BUILDING
- $7,135,000 Change: -4% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Mesa
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.64
- Latitude
- 33.2787
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
