Paradise Hills Shopping Center
83,787 SF | 100% Leased | Retail Building | Phoenix, AZ 85028 | $16,890,000 ($202/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $16,890,000
- Property Type
-
Retail
- Square Feet
- 83,787 SF
- Price / Square Foot
- $202
Listing Contacts
Mindy Korth
Verified Profile
Caitlin Zirpolo
Verified Profile
El Warner
Verified Profile
- Property Info
Property Overview
Colliers Retail Capital Markets is pleased to present the opportunity to acquire Paradise Hills Shopping Center, an Ace Hardware-anchored neighborhood center at the northwest corner of 32nd Street and Shea Boulevard in Phoenix, AZ (the “Property”). Serving this highly sought-after neighborhood for more than 60 years, the Property is 97.4% occupied by 16 tenants, offering a curated set of synergistic goods and services, including hardware supplies, liquor, freshly baked artisan breads, and memorabilia, as well as a nail salon, barber shop, and hair salon. The Property is home to five restaurants and bars with offerings that range from a gelato / wood-fired pizza, and gourmet burgers, to a sports bar, and all-day café. There is also an indoor play facility for kids, and a doggie daycare for 4-legged clients. These businesses serve not only the nearby residents, but also are destinations for customers who come from the opposite side of metro Phoenix.
Located just west of the interchange with State Route 51 at Shea Boulevard, this is the key intersection for the neighboring trade area, and easy to access from areas north and south via SR51, and from Scottsdale, which is located just minutes away along Shea Boulevard.
Located just west of the interchange with State Route 51 at Shea Boulevard, this is the key intersection for the neighboring trade area, and easy to access from areas north and south via SR51, and from Scottsdale, which is located just minutes away along Shea Boulevard.
Property Details
- Year Built
- 1962
- Stories
- 2
Highlights
- WALT OF 6.75 YEARS PROVIDES EXTREMELY SECURE AND STABLE CASH FLOW
- CURATED SET OF SUCCESSFUL BUSINESSES THAT PROVIDE A SYNERGISTIC GROUP OF GOODS AND SERVICES
- NUMEROUS TENANTS HAVE EARNED HIGH PRAISE, AND HAVE A “CULT” FOLLOWING
- NUMEROUS DESTINATION TENANTS DRAW A REGIONAL CLIENTELE
- KEY INTERSECTION FOR THIS AFFLUENT NEIGHBORHOOD TRADE AREA, JUST OFF STATE ROUTE 51 FOR REGIONAL ACCESS
- UPSIDE THROUGH BELOW MARKET RENTS AND LEASING THE VACANCY
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