NEC Bell Rd & 51st Ave
17145-17155 N. 51st Ave., Glendale, AZ

Price $2,551,000
Price per SF $154.84
Occupancy 100%
Cap Rate (Actual) 7.94
Cap Rate (Proforma) 7.35

This is a high quality center built in 2004 that is located in the dynamic Arrowhead
area. The center is being offered at a 7.94 cap rate based on the current 100%
occupancy and a 7.35 cap rate with a 5% vacancy factor. This can be structured
to generate almost a 12% return with 25% down. The price per foot of $155 is
below replacement cost and 25% below the market average. The rents average a
conservative $12.65/sq. ft., which reduce the risk during a market downturn and leave
lots of room for increases over time. The center sits on a large 2.75 acre parcel with
a very generous 7.9 per 1,000 sq. ft. parking ratio. Bell Road is a very busy east/west
corridor and the center benefits from all the traffic. The Loop 101 and I-17 freeways
are nearby, 2 and 3 miles respectively.
This center represents an excellent value and would make an ideal exchange property
to protect and increase profits made on another property.