Retail Properties in Tempe, Arizona offer a unique investment opportunity for those looking to capitalize on the city's strong economy and growing population of approximately 180,000 residents. As a hub for education, commerce, and entertainment, Tempe is an attractive location for businesses and individuals alike. Retail Properties in Tempe can represent a range of investment opportunities, from small strip centers to large shopping malls, and can provide a steady stream of income through rental properties or owner-occupied businesses. The city's amenities, including Tempe Town Lake, Papago Park, and the Tempe Center for the Arts, make it an attractive location for residents and visitors, driving foot traffic and supporting local businesses. Additionally, the presence of major companies like DriveTime, Carvana, and GoDaddy, as well as Arizona State University, contribute to the city's economic vitality. With its ideal location, strong infrastructure, and diverse economy, Tempe is an excellent place to invest in Retail Properties.
Tempe's Retail Properties are situated in a prime location, with easy access to major transportation routes, including Interstate 10, Loop 202, and Loop 101. The city's proximity to Phoenix Sky Harbor International Airport and Phoenix-Mesa Gateway Airport also makes it an attractive location for businesses that rely on air travel. With 17 Retail Properties currently available for sale, investors have a range of options to choose from. In addition to Retail Properties, Tempe is also home to a variety of other property types, including Shopping Centers, which offer a range of retail and dining options; Restaurants, which cater to the city's diverse population; Office Properties, which provide space for businesses of all sizes; and Hotels, which accommodate visitors and business travelers. With its strong economy, diverse amenities, and range of property types, Tempe is an excellent location for investors and businesses alike.
What is the average cap rate for retail properties in Tempe?
When it comes to retail properties in Tempe, investors can expect an average cap rate of 5.38%, which is a key metric to consider when evaluating the potential return on investment of a property. To learn more about how cap rates work and what they mean for your investment, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Tempe, Arizona, location and foot traffic play a significant role in determining retail property values. Properties situated in high-traffic areas, such as Mill Avenue or near Arizona State University, tend to command higher prices due to their proximity to a large customer base, with an average price per square foot of $462 USD and an average size of 9,185 square feet.
