7241 W. Indian School Rd.
Phoenix, AZ

Price $3,500,000
BuildingSize 35,508 SF
Price Per SF $98.57
Land Area 3.489
Land Price SF $23.03
Zoning C-2, City of Phoenix
Year Built 1973

The subject property is an operating bowling alley that has been at this location since 1974. The tenant has indicated that it might be willing to terminate the lease if it is at no cost to the tenant. The business was severely impacted by covid and does not appear to be very busy now. The tenant does not take good care of the exterior areas and has been cited by the City a couple times for that. The tenant also does not appear to have many any recent upgrades to the interior that are needed to remain competitive.

If the lease can be terminated, this could be ideal for an owner/user or as a redevelopment project. This could also make a good covered land play if the buyer does not have an immediate use for the property. The seller is willing to accept a contingency that the existing lease can be terminated at terms acceptable to the buyer.

The center is offered at a fraction of replacement cost and the land is a significant portion of the value. The large parcel creates a number of redevelopment options.

Interstate 10 is just two miles to the south and the Loop 101 is just under three miles to the west. The property is in a very densely populated area.

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