Description

306-362 S Ocotillo Ave – Retail is a strip center for sale at 306-362 S Ocotillo Ave in Benson, AZ. Its 47,000 SF of gross leasable area and 19,021 AADT traffic count establish the scale and exposure of the retail investment.

The property is 86% occupied, with 6,440 SF of gross leasable area on offer. That distinction matters to a buyer weighing existing income against the opportunity to lease space. The largest contiguous space is 1,795 SF, giving a clearer picture of the size of an individual leasing opportunity without treating all open space as one unit. Renovated in 2022, the center occupies 3.91 acres, has B-2 zoning and offers surface parking. Operating expenses are $1.24/SF/year, a figure to carry into the property’s leasing economics.

The asking price is $2,999,999, or $63.33 PSF and $767,263.17 per acre. In-place NOI of $241,394 corresponds to an 8.0% in-place cap rate; stabilized NOI of $308,919 corresponds to a 10.30% stabilized cap rate. In-place rents of $6.05 compare with market rents of $9.50, putting the leasing opportunity in context without treating stabilized income as current income. For an investor, the decision centers on the income already in place and the work of leasing the open space.