December 11, 2024 5:55 pm
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Miner facilitates sale of retail center in uptown Phoenix

(Disclosure: Rose Law Group represents Nick Miner.)

By Real Estate Daily News

PHOENIX, AZ (December 10, 2024) – ORION Investment Real Estate is pleased to announce the successful sale of a multitenant retail center located at 5324-5338 North 7th Avenue in the vibrant Uptown Phoenix area. The property was sold for $1,375,000, reflecting a price per square foot of $262 and a capitalization rate of 7.38%.

The retail center, encompassing 5,245 square feet on a spacious 0.63-acre lot, included a diverse mix of tenants. Recently renovated in 2023, the property features modern amenities and a favorable parking ratio of 7.25 spaces per 1,000 square feet, including five covered parking spots. Uptown Phoenix is recognized for its unique blend of luxury homes, historic architecture, and modern developments. The area is home to several educational institutions and parks, enhancing its appeal to both residents and businesses.

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