Retail Space For Lease @ 2822 N 32nd St

SVN Desert Commercial Advisors is excited to announce the availability of the Plaza 32 Retail center. This excellently located retail center is over 8,400 SF and is comprised of 7 - 1,200 SF suites. The seller has kept lease rates under market and a buyer will have the ability to raise rents as lease renewals come up. On actual income, this property is being sold at a 6.4% cap rate. A buyer will appreciate the opportunity to raise rents and add value to this property with very little capital expenditure or renovations. This complex is condo mapped and will provide a buyer with multiple exit strategies where they can sell the whole complex or sell off individual stores and decrease their equity as they wish.

As mentioned this property has 7 suites and the property is 100% occupied. Of the seven tenants Allstate is the only nationally accredited tenant. The other 6 tenants are local service tenants. El Jacal is a local Mexican restaurant, La Cruda is an excellent Mexican deli, Panaderia Los Jarochos is a local Mexican bakery, Flamingo Massage a local message parlor, Yordana's Salon is a local boutique salon and Romano Barbershop a local boutique barbershop. All tenants have been in this complex since 2019 and the oldest tenant, Flamingo Massage, has been located in this complex since 2010.

This property is located adjacent to a Starbucks and T-mobile. Across the street there is a Fry's Grocery, Americas Home Furniture store, El Super Grocery and a Church's Chicken. All of these nationally accredited tenants will certainly bring some positive externalities for the smaller local businesses in this center. This space offers accomodations for: street retail.