SOLD: Prime Vacant Freestanding Retail Building Sold for $287/SF

TEMPE, ARIZONA – 2010 South Rural Road, formerly Dominic’s 2-Wheeler, sold today for $1,395,000 or $287 per square foot. Nick Miner of ORION Investment Real Estate represented the Seller DBM Wheelers, LLC, the former owner/operator of the building. The Buyer, 1216 Avenida Chelsea, LLC, was represented by Lucinda Bliss of ORION Investment Real Estate.

The 4,860 square foot free-standing retail/commercial building at the major arterial intersection of Rural and Broadway Roads just south of Arizona State University. The Buyer purchased the building as an investment, and ORION Investment Real Estate’s Lucinda Bliss will be working to lease the project now that its changed hands. The highly visible, walkable location is ideal for the future tenant. The site also benefits from prominent monument and building signage, on the “going to work” side of the street. Nick Miner, CCIM commented on the transaction, “Part of the seller’s motivation was to retire and close down the business. This is the second property I have sold for the seller. – Miner said.

We had multiple interested parties but decided to go with the current buyer because they were all cash and a short due diligence period.”

Related Links:

Prime Vacant Freestanding Retail Building Sold for $287/SF – Rose Law Group

Prime Vacant Freestanding Retail Building Sold for $287/SF – Real Estate Daily News