La Jolla Portfolio

303 - 501 W Van Buren, Avondale, AZ

$4,325,000

Price

6.38%

Cap Rate

$314,665

NOI

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Map
Overview
Cap Rate
6.38%
NOI
$314,665
Building Size
29,684 sqft
Lot Area
100,624 acres
Occupancy
100%
Units
20
Year Built
1978
Zoning
C-2, City of Avondale
Floors
1
Description

Phoenix West Commercial is pleased to exclusively represent for sale the La Jolla Plaza Portfolio at 301-501 West Van Buren in Avondale, Arizona. The portfolio itself is comprised of three buildings, the first two being occupied by a majority of retail tenants. The third is an office complex, with a beautiful courtyard style layout. Situated betwixt North Dysart Road and North Litchfield Road, the two main arterial roadways in the West Valley, La Jolla boasts 26,340 vehicles per day. South of West Van Buren, the roadway itself acts as an interconnecting thoroughfare for Goodyear, Avondale, Tolleson, and Central Phoenix, through which many of the cities base their retail corridors along. As for Goodyear in specific, retail vacancies have been lower than the five-year average during the third quarter of 2020. Retail rents have raised approximately 2.8% within the past year as well. Additionally, the Goodyear retail submarket is not at all foreign to investment opportunities, with the average price per square foot being even higher than Phoenix.

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