Rare Uptown Phoenix Retail Center trades for $262 PSF

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    Sold $1,375,000
    Retail
    Description

    Rare Uptown Phoenix Retail Investment

    Retail Sold - Arizona

    PHOENIX, AZ – The ICRE Investment Team, along with ORION Investment Real Estate, is pleased to announce the successful sale of a multi-tenant retail center located at 5324-5338 North 7th Avenue in the vibrant Uptown Phoenix area. The property was sold for $1,375,000, reflecting a price per square foot of $262 and a capitalization rate of 7.38%.

    The retail center, encompassing 5,245 square feet on a spacious 0.63-acre lot, includes a diverse mix of tenants. Recently renovated in 2023, the property features modern amenities and a favorable parking ratio of 7.25 spaces per 1,000 square feet, including five covered parking spots.

    Uptown Phoenix is recognized for its unique blend of luxury homes, historic architecture, and modern developments. The area is home to several educational institutions and parks, enhancing its appeal to both residents and businesses.

    “This sale underscores the strong demand for well-located retail properties in the Phoenix market,” said Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate. Andrew Harrison, Senior Vice President at ORION, added, “The combination of high occupancy rates and strategic location made this an attractive investment opportunity for the Buyer.”

    Michael Douglas, CCIM, with the ICRE Investment Team, represented the Buyer, The R. Barclay Foundation, Inc., in this transaction. The Seller, 5324 N 7th Avenue, LLC, was represented by Nick Miner and Andrew Harrison of ORION Investment Real Estate.

    For more information about this transaction or other investment opportunities in the Phoenix area, please contact the ICRE INVESTMENT TEAM.

     

    About the ICRE Investment Team
    ICRE Investment Team is an investment team within ORION Investment Real Estate, that specializes in office, retail, medical, industrial and investment properties in Phoenix Arizona. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, ICRE Investment Team

     

     

    BROKER INFORMATION

    Michael Douglas, CCIM
    (480) 977-2935
    michael.douglas@investingincre.com

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