Peoria, Arizona is an attractive location for investors seeking to purchase Retail Properties For Sale. With a growing population of around 170,000 residents, Peoria offers a strong consumer base for retail businesses. Retail Properties in Peoria can represent a variety of investments, including strip centers, shopping plazas, and freestanding retail buildings. These properties can provide a steady income stream and potential long-term appreciation in value. Peoria's amenities, infrastructure, and location make it an ideal place to invest in Retail Properties. The city is home to institutions such as Trine University and Huntington University, and features attractions like the Peoria Sports Complex and the Peoria Center for the Performing Arts. Additionally, Peoria's geography, with its mix of mountains, hills, and water bodies like Lake Pleasant, provides a unique and desirable environment for residents and visitors. Overall, Peoria is a great place for business and travel, with attractions like the Arizona Broadway Theater and Harkins Theatres in the entertainment district known as "P83."
With 5 Retail Properties For Sale in Peoria, investors have a range of options to choose from. The average price per square foot for Retail Properties in Peoria is $348 USD, with an average size of 16,457 square feet. The largest Retail Property available is 29,120 square feet. In addition to Retail Properties, Peoria also offers other property types, including Shopping Centers, which can provide a diverse range of retail and dining options; Restaurants, which can cater to the city's growing population; Office Properties, which can serve as hubs for businesses and entrepreneurs; and Hotels, which can accommodate visitors and travelers. Each of these property types offers unique investment opportunities in Peoria, with its strong economy and growing population. Overall, Peoria is a great location for investors seeking to purchase Retail Properties For Sale, with its many amenities, attractions, and investment opportunities.
What is the average cap rate for retail properties in Peoria?
When it comes to retail properties in Peoria, investors can expect an average cap rate of 6.59%, which is a crucial factor to consider when evaluating potential investments. To better understand the significance of this rate, it's essential to know what is a cap rate, which is a metric that helps investors determine the potential return on investment based on the property's net operating income and market value - you can learn more about it in our article at what is a cap rate.
How do location and foot traffic affect retail property values?
In Peoria, Arizona, the location of a retail property plays a significant role in determining its value, with properties situated in high-traffic areas such as the Loop 303 corridor, near the Peoria Sports Complex, or in the "Old Town" area, tend to command higher prices due to their proximity to major transportation hubs, amenities, and population centers.
Foot traffic, in particular, is a crucial factor, as it directly impacts the visibility and accessibility of a retail property, with properties in areas with high foot traffic, such as near the Peoria Center for the Performing Arts or along major roads like AZ-74 and Loop 101, typically experiencing higher property values due to their increased exposure to potential customers.
