28325 North Tatum Boulevard Cave Creek, AZ 85331

E X C L U S I V E
R E T A I L
O F F E R I N G
S HOPPING S TRIP
T HE S HOPS AT T ATUM & D YNAMITE
28325 North Tatum Boulevard
Cave Creek, AZ 85331
OFFERING SUMMARY
INVESTMENT HIGHLIGHTS
Price
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Incredible Upside Through Lease-Up
Down Payment
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Diverse Tenant Mix
Gross Leasable Area (GLA)
14,545
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Direct Frontage on Tatum Boulevard
Price per Square Foot (GLA)
$195.94
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Offers Excellent Access to the Loop 101
Freeway
Year Built
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Located in a very Affluent Area
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76 Parking Stalls Including Four
Disabled Spots
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Offered at 8.78 Percent Pro Forma CAP
Rate
Lot Size
$2,850,000
(100%) $2,850,000
2006
79,913 SF
Cap Rate - Current
5.65%
Cap Rate - Pro Forma
8.78%
Total Return - Current
5.65%
Total Return - Pro Forma
8.78%
Built in 2006 with Eleven Retail Spaces
Offices Nationwide
12100 West Olympic Boulevard, Suite 350
Los Angeles, CA 90064 • Tel: (310) 909-5500 Fax: (310) 909-5410
Listed by:
TONY AZZI
Senior Vice President Investments
Tel: (310) 909-5454
Fax: (310) 909-5410
License: CA 00910513, CA 01325569
[email protected]
www.marcusmillichap.com/TonyAzzi
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must
verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap
(Activity ID: V0380257 Property ID: 1932072)
28325 NORTH TATUM BOULEVARD • CAVE CREEK, AZ 85331
MAJOR TENANTS
OPERATING DATA
Income
Base Rent
Occupied Space
Vacant Space at Market Rents
(4,681 SF)
Gross Potential Rent
Expense Reimbursements
Gross Potential Income
Vacancy/Collection Allowance
Effective Gross Income
Total Expenses
Net Operating Income
Total Return
Current
Pro Forma
$189,925
$98,301
$305,445
$288,226
$51,094
$339,320
34.1% / $98,301
$241,019
$79,878
$161,141
5.65% / $161,141
$305,445
$63,384
$368,829
10% / $30,545
$338,285
$88,074
$250,211
8.78% / $250,211
36,875
4,281
4,648
23,703
10,371
$34,074
$79,878
$5.49
36,875
4,281
4,648
29,404
12,866
$42,270
$88,074
$6.06
t Rosati Pizza
INVESTMENT OVERVIEW
Marcus & Millichap, is proud to present this multi-tenant
retail property located at 28325 North Tatum Boulevard, in
Cave Creek, Arizona. Built in 2006, this multi-tenant retail
property consists of 14,545 rentable square feet set on a
79,913-square foot lot. The property offers 11 retail spaces
and 76 parking stalls including four disabled spots. The
current tenants include: Rosati's Pizza, Leslie's Poolmart,
Martinizing Dry Cleaners, Perfect 10 Nails and Salon
Samera.
The property is located east of North Cave Creek Road,
north of East Dynamite Boulevard, west of North Tatum
Boulevard and south of East Dixileta Drive. Located in the
affluent Cave Creek neighborhood of Phoenix, this property
is centrally located near schools, shopping, entertainment
and many other prominent attractions in Phoenix. The
property is near Ace Hardware, BMO Harris Bank, CVS
Pharmacy, Cocomo Joes, Primorose School at Tatum and
EXPENSES
Real Estate Taxes (1.2500%)
Insurance
Management Fee
Utilities
Repairs & Maintenance
Total CAM
Total Expenses
Expenses per SF
12100 West Olympic Boulevard
Suite 350
Los Angeles, CA 90064
Tel: (310) 909-5500
Fax: (310) 909-5410
www.marcusmillichap.com
Black Mountain Nursery. In addition, the property offers
convenient access to the 17, 101, and 51 freeways.
This property was sold for $6,376,611 on January 30th,
2008, and is now offered at more than 50 percent below the
2008 sales price.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must
verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap
(Activity ID: V0380257 Property ID: 1932072)