5665 W Bell Rd
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5665 W Bell Rd
61,302 SF 100% Leased Retail Building Glendale, AZ 85308 $15,989,061 CAD ($261 CAD/SF) 8.68% Cap Rate
Investment Highlights
- Recent Renovations in Excess of $2M
- 7-Year NNN Leases to be Executed at Close of Escrow
- Parking Lot Seal and Strip - July 2024
- New Roof with 20 Year Warranty Planned
- Phoenix Retail Vacancy at 4.6%, Recording 3.6M SF of Net Absorption
Executive Summary
Lee & Associates Arizona Commercial Real Estate Services Company (“Exclusive Broker”) is pleased to present the opportunity to purchase Talavi Towne Center II, consisting of ±61,302 square feet, situated on 5.67 acres of PAD zoned land, located in the heart of Glendale, Arizona (the “Property”).
The project is 100% leased to two (2) tenants, with new leases to be executed upon closing escrow, NNN structure, 2% annual increases, and renewal options. Ownership has completed several major capital expenditures including substantial tenant improvements, updated restrooms, painting, a new parking lot seal/stripe, and a new roof (currently being planned).
The project is 100% leased to two (2) tenants, with new leases to be executed upon closing escrow, NNN structure, 2% annual increases, and renewal options. Ownership has completed several major capital expenditures including substantial tenant improvements, updated restrooms, painting, a new parking lot seal/stripe, and a new roof (currently being planned).
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
61,302 SF
Building Class
B
Year Built/Renovated
1994/1998
Price
$15,989,061 CAD
Price Per SF
$261 CAD
Cap Rate
8.68%
NOI
$1,387,851 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.25
Lot Size
5.68 AC
Zoning
PAD
Parking
291 Spaces (4.75 Spaces per 1,000 SF Leased)
Frontage
770 ft on W Bell Rd
Amenities
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 200-50-204 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,887,916 CAD |
PROPERTY TAXES
Parcel Number
200-50-204
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,887,916 CAD
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5665 W Bell Rd
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