Tucson Marketplace

Shopping Center for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30353778
Property Subtypes: Community Center, Mixed Use, Neighborhood Center, Net Leased, Strip Center
Building Size (RSF): 29,523 SF
Gross Land Area: 88,438 SF
Sale Price: $3,995,000
Unit Price: $135.32 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 29,523 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/5/2018

Overview / Comments

Tucson Marketplace was originally developed as a Wal-Mart anchored Shopping Center with a couple of restaurant pads, a bank pad, and retail shops facing both Broadway Blvd. and Pantano Road. Wal-Mart relocated in order to accommodate their expansion to a Super Wal-Mart and their building was purchased by Sam Levitz Furniture (http://www.samlevitz.com/), who continue to occupy the building as a Sam’s Furniture Outlet along with Ashley Furniture (http://www.samlevitz.com/). The shops facing Pantano Road (150 N. Pantano Road) were built in 1988, but the parcel was only partially developed. In 2006, with the 150 N. Pantano building at 100% occupancy, the balance of the parcel was developed with a 22,370 square foot building that was designed initially as a multi-tenant initially retail building. 150 N. Pantano has remained 100% occupied since 2006 and 250 N. Pantano has been 100% leased to InJoy Thrift (https://www.injoythriftstores.com/) since April of 2014.

The shops located at 150 N. Pantano Road have been leased for over 12 years to the existing tenants (orthodontist, laundromat, salon, and pizza restaurant). OrthoPros, who occupies over 41% of the 150 N. Pantano building and has 3 locations in Tucson, recently completed a major renovation to their space and signed a 10 year lease extension. InJoy Thrift, a thrift store whose goal is to support and fund Christian based ministries both locally and internationally, has locations in North Carolina, Florida, and Arizona. InJoy Thrift occupies the entire 250 N. Pantano building.

Current Tenants

Tenant Business Name InJoy Thrift
Is Renting? Yes
SF of Space Occupied 22,370 SF
Tenant Notes See "Tenant Profile" Section of Offering Memorandum
Tenant Business Name OrthoPros
Is Renting? Yes
SF of Space Occupied 2,953 SF
Tenant Notes See "Tenant Profile" Section of Offering Memorandum
Tenant Business Name Laundry on Pantano
Is Renting? Yes
SF of Space Occupied 2,400 SF
Tenant Notes See "Tenant Profile" Section of Offering Memorandum
Tenant Business Name Hungry Howie's Pizza
Is Renting? Yes
SF of Space Occupied 900 SF
Tenant Notes See "Tenant Profile" Section of Offering Memorandum
Tenant Business Name Headline Hair Studio
Is Renting? Yes
SF of Space Occupied 900 SF
Tenant Notes See "Tenant Profile" Section of Offering Memorandum

Additional Details

Nearest MSA: Tucson
County: Pima
Taxing Authority: City of Tucson
Tax ID/APN: 133-24-3720
Zoning: C-1
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Site Description: Tucson Marketplace is located at the NEC of Pantano Road and Broadway Blvd. in the east Tucson trade area. Tucson Marketplace as a whole offers over 1,200 feet of frontage on Pantano Road as well as nearly 700 feet of frontage on Broadway Blvd. Tucson, which is the second largest metropolitan area in Arizona, boasts a population of 535,677 within the City limits with over a million people in the greater Tucson metropolitan area. The property is well parked, and has multiple points of access on both Pantano and Broadway.
Area Description: Tucson Marketplace is a located in the heart of east Tucson. Major retailers in the immediate area include Home Depot, Kohl’s, La-Z-Boy, Ashley Furniture, Sam’s Furniture Outlet, Sprout’s Farmer’s Market, and PetSmart.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2006

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,159 136,252 237,134
Median Age: 40.89 40.99 41.08
Households: 10,544 59,724 103,016
The information presented herein is provided as is, without warranty of any kind. Neither Catylist nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.