For Sale: Cobblestone Fiesta Shopping Center in Maricopa, Arizona

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Overview

PRICE: $5,750,000

CAP RATE: 7.4%

BUILDING SIZE: 32,885 sf

PROPERTY TYPE: Retail Center

Highlights

  • 94% Occupied Class A – Ace Hardware Anchored Center
  • Only Hardware Store in Maricopa! Captive Market!
  • Extremely High Traffic Counts & Demographics
  • Excellent Visibility From a Major Thoroughfare
  • Diverse and Stable Tenant Mix
  • Below Market Rents with Staggering Lease Expiration’s
  • Fully Assumable Loan in Place with Below Market Cash Down Requirement

Property Description

Built in 2005; the Cobblestone Fiesta Shopping Center is 94% occupied and is anchored by Ace Hardware, which is the only hardware store in town. Not only does this stable investment include one of the top Ace Hardware’s stores in the state, the shops have a great mix of tenants with staggering lease expirations. The three largest tenants all have 4+ years remaining on their primary terms. Cobblestone Fiesta is a great opportunity for an investor to acquire a very desirable asset with much lower than normal cash down with the assumption of the existing loan that is fully assumable.

Location Description

The subject property is located in Maricopa Arizona along the main retail corridor in the market. The town of Maricopa offers residents and businesses the experience of a small-town, rural atmosphere that is within a short distance to two major metropolitan areas, Phoenix and Tucson. Maricopa boasts one of the top average incomes per household at approximately $75,000 with a population that is very educated. Approximately 61% of residents in Maricopa hold a bachelor’s degree or higher. A large majority of residents that live in Maricopa drive past the subject property every day along Highway 347 to commute to Phoenix for work, providing unparalled exposure.



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