CENTRE POINT PLAZA - RETAIL INVESTMENT OPPORTUNITY - OFFERED AT $7,400,000 - VAST COMMERCIAL REAL ESTATE ...
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VAST COMMERCIAL REAL ESTATE SOLUTIONS RETAIL INVESTMENT OPPORTUNITY
CENTRE POINT PLAZA
Tucson, AZ
46,685 RSF OF IN-LINE RETAIL
OFFERED AT $7,400,000
Jon O’Shea
7.3% CAP RATE
Designated Broker
520-624-9400 - Office
520-780-4743 - Cell
jon@vasttucson.com
OFFERING INTRODUCTION
VAST COMMERCIAL REAL ESTATE SOLUTIONS
This offering provides investors with the oppor-
tunity to acquire 46,685 SF of in-line retail space.
Centre Point Plaza is a 104,311 SF plaza located
in a strong trade area, on the southeast corner of
Campbell Avenue and Irvington Road. The center is
comprised of the following:
CENTRE POINT PLAZA
Subject Property
In-line Shop Space 46,685 square feet
Food City Anchor Space 41,268 square feet
Burger King 2,700 square feet
China Buffet (VACANT) 5,400 square feet
Famous Sam’s 5,984 square feet
Taco Bell 2,274 square feet
TOTAL 104,311 square feet
The in-line shop space boasts an 85% occupancy
rate and has a long history of stabilized income.
Centre Point Plaza has historically maintained high
occupancy due to foot traffic from surrounding
residential and multi-family developments. Food
City is a strong anchor for the plaza and, combined
with national name pad users and local businesses,
these retailers create a thriving shopping center
that is well-positioned for any market fluctuation.
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
PROPERTY DESCRIPTION
VAST COMMERCIAL REAL ESTATE SOLUTIONS
LOCATION / SITE CONSTRUCTION / ZONING
1992 - 1998 & 2002 - 2038 E Irvington Rd Centre Point Plaza was built in 1985.
Tucson, AZ 85714
Per the City of Tucson, the subject site is
Centre Point Plaza is located at the SE corner currently zoned as C1-Commercial.
of Irvington Rd and Campbell Ave in the city of
Tucson, AZ.
BUILDING AREA
Parcel No. Address
140-12-2170 1992 E Irvington Rd The subject consists of 46,685 square
1994 E Irvington Rd feet of in-line shop space in three
1996 E Irvington Rd buildings within the Centre Point Plaza
1998 E Irvington Rd shopping center.
140-12-2210 2002 E Irvington Rd
2004 E Irvington Rd
2006 E Irvington Rd LAND AREA
2008 E Irvington Rd
2012 E Irvington Rd The listing consists of 2 parcels (Lot 3
2014 E Irvington Rd and Lot 7) totalling approximately +/-
2016 E Irvington Rd 45,500 SF of land area.
2018 E Irvington Rd
2020 E Irvington Rd 140-12-2170 43,642 SF Lot 3
2024 E Irvington Rd 140-12-2210 140,328 SF Lot 7
2032 E Irvington Rd TOTAL: 183,970 SF
2038 E Irvington Rd
TRAFFIC COUNTS ACCESS
E. Irvington Rd: +/-23,127 CPD (2018) Access points into the center include 2
S. Campbell Ave: +/-22,309 CPD (2017) entrances off Irvington Rd and 3
(Source: Arizona Department of Transportation) entrances off Campbell Ave.
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
VAST COMMERCIAL REAL ESTATE SOLUTIONS Bravo Park Lane
Neighborhood
El Conquistador
Apartments
201 Units Bank of America
Financial Center
Irvington Road
South Cornerstone
Apartments
60 Units
Irvington
Campbell Avenue
Centre Point
Plaza
Plaza
Cherry Avenue
Drexel Park
Neighborhood
Sunnyside
Neighborhood Drexel Road
Tres Pueblos
Subdivision
Rivera Park
Elementary
© 2019 VAST commercial real estate solutions, llc. all rights reserved. this information has been obtained from sources that are believed to be reliable but has not been verified for accuracy or completeness. if this information is material to you, you are
advised to verify all information independently; any reliance on this information is solely at your own risk.
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
MAJOR TENANTS
VAST COMMERCIAL REAL ESTATE SOLUTIONS
DaVita Inc. provides kidney dialysis Dollar General Corporation is an
services through a network of American chain of variety stores
2,664 outpatient dialysis centers headquartered in Goodlettsville,
in the United States, serving Tennessee. As of March 2019,
202,700 patients, and 241 Dollar General operates 15,472
outpatient dialysis centers in stores in the continental United
other countries. It is organized in States. Dollar General has grown
Delaware and based in Denver. to become one of the most
profitable stores in the rural
United States with revenue
The UPS Store network is the reaching around $25.6 billion in
world’s largest franchisor of 2018.
retail shipping, postal, printing
and business service centers.
Today, there are more than Little Caesars is the third-largest
5,000 independently owned The pizza chain in the United States.
UPS Store locations in the U.S., It operates and franchises pizza
Puerto Rico, and Canada. The UPS restaurants in the United States
Store, Inc., franchisor of The UPS and internationally in Asia, the
Store brand, is a wholly owned Middle East, Australia, Canada,
subsidiary of United Parcel Service Latin America and the Caribbean.
(UPS). The company was founded in
1959 and is based in Detroit,
Cricket Wireless is a wholly owned Michigan.
subsidiary of AT&T that provides
wireless services to 10 million Rent-A-Center is an American public
subscribers in the United States. furniture and electronics rent-to-
Cricket provides affordably priced own company based in Plano, Texas.
cell phone plans and a high- The company was incorporated in
quality, reliable network. There are 1986 and as of 2019 operates over
currently 5,000 retail locations as 2,800 company-owned stores in the
of 2019. Cricket is headquartered United States, Canada, Puerto Rico
in Atlanta, Georgia. and Mexico.
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
RENT ROLL
VAST COMMERCIAL REAL ESTATE SOLUTIONS
Lease Term Rental Rates
Square Base Rent/
Unit Tenant Name Lease From Lease To Total/SF
Feet (SF) Month
1990 Rent-A-Center 4,200 12/1/1998 11/30/2023 $ 5,600.00 $1.67
1992 VACANT 1,200 $ 0.00 $0.00
1994 Water Mart 600 6/1/1993 12/31/2020 $ 1,202.00 $2.00
1996 Zenith Vape 600 4/1/2018 3/31/2023 $ 824.00 $1.87
1998 Little Caesars 1,400 5/1/1998 4/30/2023 $ 1,512.11 $1.47
2002 Cricket Wireless 2,100 1/1/2002 7/31/2024 $ 3,538.50 $2.10
2004 UPS Store 1,050 5/15/1996 5/31/2024 $ 835.46 $1.20
2008 Nails First by Tom 1,000 1/1/1996 12/31/2022 $ 2,100.00 $2.10
2010 VACANT 1,650 $ 0.00 $0.00
2014 SuperPowers Nutrition 900 8/1/2017 8/31/2022 $ 1,100.00 $1.76
2016 Isela Lopez 900 8/26/2008 6/30/2020 $ 1,612.50 $2.19
2018 VACANT 2,640 $ 0.00 $0.00
2020 LA Insurance Agency 2,000 5/1/2008 4/30/2023 $ 2,731.82 $1.66
2024 DaVita Dialysis 10,910 8/1/2000 2/29/2024 $13,046.54 $1.44
2026 VACANT 1,356 $ 0.00 $0.00
2032 Dollar General 9,230 8/1/2003 12/31/2023 $ 9,469.75 $1.03
2038 TNT Fashion 3,936 1/1/2010 4/30/2023 $ 4,500.00 $1.14
Total Total Total
SUMMARY Units
%
Area Base Rent
Occupied 13 85.0% 38,826 $48,072.68
Vacant 4 15.0% 6,846 $0.00
Totals 17 45,672 $48,072.68
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
STABILIZED PRO-FORMA
VAST COMMERCIAL REAL ESTATE SOLUTIONS
Income
Rent $ 683,225 Annualized Rent Roll & Vacancy at Market
Reimbursements $ 342,695 2018 YE Pro-Forma
Other Income $ 2,893 T12 (9/30/19)
Pro-Forma Gross Income $ 1,025,920
Less Vacancy & Collection Loss $ (153,888) 15% (Actual Vacancy)
Effective Gross Income $ 872,032
Expenses
Total Expenses $ (332,110) T12 (9/30/19)
NOI $ 539,922
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
SITE MAP
VAST COMMERCIAL REAL ESTATE SOLUTIONS
LOT 3
Square
Unit Tenant Name
Feet
1990 Rent-A-Center 4,200
1992 VACANT 1,200
1994 Water Mart 600
1996 Zenith Vape 600
1998 Little Caesars 1,400
LOT 7
Square
Unit Tenant Name
Feet
2002 Cricket Wireless 2,100
2004 UPS Store 1,050
2008 Nails First by Tom 1,000
2010 VACANT 1,650
SuperPowers
2014 Nutrition 900
2016 Isela Lopez 900
2018 VACANT 2,640
LA Insurance
2020 Agency 2,000
2024 DaVita Dialysis 10,910
2026 VACANT (Storage) 1,356
2032 Dollar General 9,230
2038 TNT Fashion 3,936
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
LOT MAP
VAST COMMERCIAL REAL ESTATE SOLUTIONS
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
www.vasttucson.com/centrepoint
PHOTOS
VAST COMMERCIAL REAL ESTATE SOLUTIONS
JON O’SHEA JON@VASTTUCSON.COM 520-780-4743
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