- For sale
Investment opportunity to acquire Westwind Plaza Shops, a ±21,187-square-foot shopping center on ±2.12 acre at 10555 and 10575 W. Indian School Road in the bustling city of Avondale, Arizona. The property is prominently located within the dominant retail corridor at the heavily trafficked arterial intersection of 107th Avenue and Indian School Road.
Sale price is $5.3 million. Cap rate is 6.82 percent. Click here to request the Offering Memorandum.
Westwind Plaza Shops is 94 percent leased by 14 tenants, which include a diverse mix that caters to the immediate trade area.
The property benefits from its strategic location adjacent to strong-performing tenants, including Fry’s Marketplace, Starbucks and Walgreens. Centrally located within the heart of Avondale, the asset boasts impressive density of approximately 99,372 people living within a three-mile radius of the Property.
Westwind Plaza Shops is an excellent opportunity to acquire a secure shopping center that provides consistent cash flow, with excellent growth potential from fixed annual increases as well as below market rents.
The Property offers generous 4.7 per 1,000 parking, with customer parking conveniently located at the entrances to each suite, and employee parking convenient to the rear entrances. The signalized intersection with Westwind Parkway, as well as the curb cuts from Indian School Road and Westwind Parkway offer safe left and right turn access points.
All buildings within Westwind Plaza are of consistent design, of high-end building materials and attractive design, which are subject to CC&R’s to assure the properties and grounds will be well maintained.
This offering includes a diverse tenant mix that caters to the immediate trade area. 43% of the shops space is occupied by restaurants; 24% by healthcare, personal and community service; 12% by entertainment and fitness; and 15% by financial services and management