Shopping Strip
Meredith Plaza
4808 N 35th Ave, Phoenix, AZ 85019
Listing Price: $2,700,000
Investment Overview
This property represents a compelling value-add retail investment located in a high-traffic,
institutionally anchored corridor of Phoenix. Current rents across the center are approximately
30% below market, with most tenants operating under modified gross lease structures. This
provides an incoming investor with immediate upside through lease restructuring and
rent adjustments. A significant portion of the leases are set to expire between 2025 and
2026, creating a favorable window to re-tenant, renew, or reposition the rent roll within a
relatively short time frame. With strategic capital improvements and refreshed leasing, a
buyer can quickly unlock the center’s full income potential while benefiting from the long term fundamentals of its location.
Meredith Plaza
Investment Highlights
- In-place rents average $14.21/SF MG — approximately 30.86% below market rates ($18.42/SF)
- 5 of the 9 suites are under 1,000 SF — the most competitively sized product in the market — enabling high occupancy, quicker leasing, and low tenant overhead (Curbline Properties Corp. (CURB) Q1 20
- The short lease terms present a unique opportunity for investors to enhance the property's physical condition and strategically reposition the tenant mix
Exclusively Listed By
Listing Price: $2,700,000
Investment Highlights
- In-place rents average $14.21/SF MG — approximately 30.86% below market rates ($18.42/SF)
- 5 of the 9 suites are under 1,000 SF — the most competitively sized product in the market — enabling high occupancy, quicker leasing, and low tenant overhead (Curbline Properties Corp. (CURB) Q1 20
- The short lease terms present a unique opportunity for investors to enhance the property's physical condition and strategically reposition the tenant mix
Investment Overview
This property represents a compelling value-add retail investment located in a high-traffic, institutionally anchored corridor of Phoenix. Current rents across the center are approximately 30% below market, with most tenants operating under modified gross lease structures. This provides an incoming investor with immediate upside through lease restructuring and rent adjustments. A significant portion of the leases are set to expire between 2025 and 2026, creating a favorable window to re-tenant, renew, or reposition the rent roll within a relatively short time frame. With strategic capital improvements and refreshed leasing, a buyer can quickly unlock the center’s full income potential while benefiting from the long term fundamentals of its location.
Exclusively Listed By
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