METRO VILLAGE

SWC 28th Drive & Larkspur
12426 N. 28th Dr., Phoenix, AZ

Price $2,050,000
Size 19,086 SF
Price per SF $107.41
Price per SF (land only) $27.39
Occupancy 59.4%
Current NOI $58,715
Proforma NOI $185,435* *95% occupancy and all leases increased to at least $9.00 NNN

The subject property is a very attractive shopping center that was built in 1979 and remodeled in 2004 and now looks like centers you see in Scottsdale. All of the in-line space directly faces 28th Drive. There is a freestanding pad building leased to Dairy Queen on the hard corner that is included with this offering. Dairy queen recently extended their lease and has been at this location for over 38 years.
The center is being offered at near half of replacement cost at $107/SF. This center could be ideal for an owner/user or an investor looking to increase value through lease-up.
This center is conveniently located very near the I-17 Freeway. The 101 Freeway is 4.5 miles to the north. The Metrocenter Mall is just over a mile to the south. Arizona State University West Campus is two miles to the west on Thunderbird.

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Location