Encanto Plaza 2201 N 83rd Ave 10,026 SF 100% Leased Retail Building Phoenix, AZ 85035 $6,207,292 CAD ($619.12 CAD/SF) 6.50% Cap Rate

Cushman & Wakefield is pleased to present the opportunity to acquire Encanto Plaza, a fully occupied multi-tenant retail investment located in Phoenix, Arizona. The property consists of approximately 10,026 square feet situated on ±1.44 acres and is 100% leased to eight local tenants serving the greater Phoenix area. Structured with NNN leases, the asset offers investors a stable in-place income stream with limited landlord expense responsibilities, further supported by strong annual rent growth of 4% across all leases.
Originally constructed in 2003, Encanto Plaza provides a diverse neighborhood-oriented tenant mix with a weighted average lease term of approximately 4.8 years. The property’s tenancy is particularly attractive due to its local market focus, with all eight tenants operating within the Phoenix area and the majority having occupied the center for more than 10 years. This long-standing tenancy helps demonstrate the property’s stability, established customer base, and relevance within the surrounding community.
The center is within a densely populated trade area containing more than 409,000 residents within a five-mile radius. The site benefits from convenient access near the I-10 Freeway, which sees traffic counts of approximately 302,927 vehicles per day, as well as strong visibility at a hard corner location near major demand drivers including Desert Sky Mall and Talking Stick Amphitheatre. The surrounding area is also supported by average household incomes exceeding $104,000 within a one-mile radius.
This offering represents an opportunity to acquire a stabilized Phoenix retail center with diverse local tenancy, durable in-place cash flow, contractual rent growth, and strong real estate fundamentals in a well-established infill location.