4325 S 48th Street, Tempe, AZ 85282

$1,900,000
Property Type: Comm/Industry Sale Square Footage: 9,657 Lot Size (sq. ft.): 39,857 Status: Closed
Current Price: $1,900,000 List Date: 5/12/2025 Last Modified: 5/16/2025

Overview

Description

The Vineyard Plaza at 4325 S 48th Street is a fully occupied strip center in the thriving Tempe submarket. Tenants are paying rents averaging 22% below market, presenting strong value-add potential and future rent growth. Offered well below replacement cost at a 7% in-place cap rate, this multi-tenant center is surrounded by new developments and offers easy access to the 60, 10, and 143 Highways.

Listing Details MLS# 6851451

Location, Tax & Legal

House Number
4325
Compass
S
Street Name
48th
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85282
Country
US
County Code
Maricopa
Subdivision
KNOELL GARDEN GROVES UNIT 3
Assessor Number
123-27-354
Tax Year
2023
Building Number
104
Assessor's Map #
27
Legal Description (Abbrev)
KNOELL GARDEN GROVES UNIT THREE MCR 186-16
Assessor's Parcel #
354
Add'l Parcels
No
Tax Municipality
Tempe
Census Tract
319703
Taxes
21370
Legal
KNOELL GARDEN GROVES UNIT THREE MCR 186-16

Contract Info

Ownership
Fee Simple

General Property Description

Type of Property
Retail
Ttl Apx SqFt Bldg
9657
Ttl Apx Net Rnt Spc
1200
# of Buildings
Yes
Lot Size Dimensions
297.62 x 160.22 x 238.56 x 28.2 x 136.23
Year Built
1988
Zoning
CSS
Uncvrd Parking Spcs
0

Remarks Misc

Cross Street
S 48th St and E Southern Ave
Directions
Head east on your current road, turn right onto S 48th St, continue for 1 mile, then turn left onto S 48th Pl. The destination, 4325 S 48th Pl, will be on your left.

Status Change Info

Off Market Date
2025-05-12
Under Contract Date
2025-04-21
Close of Escrow Date
2025-05-16

Legal Info

Township
1N
Range
4E
Section
32
Lot Number
TRACT A

More Information

Showing Notification Methods

Showing Service
No Showing Service Used
Text
Yes
Email
Yes
Phone Call
Yes
No Notification Required to Show
Yes

Sold Info

Loan Type
Other
Payment Type
Other
Clsing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession $/%
%
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Construction

Block
Yes

Roofing

Built-Up
Yes

Floors

Concrete
Yes

Income & Expenses

Owner Association
No
Annual Ownr Asoc Fee
0
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Building Type

Commercial
Yes
Other (See Remarks)
Yes

Business Type

Mixed
Yes
Retail
Yes
Other
Yes

Stories

1 Story
Yes

Pmt & Rate Info

Equity
1950000
Total Owed
0

Lockbox Type

None
Yes

Ceiling Height

8.1 Feet to 10 Feet
Yes

Heating

Electric
Yes

Cooling

Central Air
Yes

Interior Features

Finished
Yes
Finished to Suit
Yes

Loading Facilities

None
Yes

Road Surface Type

Gravel
Yes

Exterior

Corner Lot
Yes
Dual Street Ftg
Yes
Roof Sign
Yes
Building Sign
Yes

Source of Fincl Data

Owner
Yes
Other (See Remarks)
Yes

Fencing

None
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Free
Yes

Electric

SRP
Yes

Gas

City Gas
Yes

New Financing

Cash Only
Yes
Cash to Loan
Yes
Owner May Carry
Yes
Other (See Remarks)
Yes

Existing 1st Loan

Treat as Free&Clear
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 3rd Loan

Treat as Free&Clear
Yes

Reports/Disclosures

None
Yes
Other (See Remarks)
Yes

Environmental

None
Yes
Other (See Remarks)
Yes

Property Features

Building Type: Commercial; Other (See Remarks) Business Type: Mixed; Retail; Other Stories: 1 Story Construction: Block Roofing: Built-Up Floors: Concrete Ceiling Height: 8.1 Feet to 10 Feet Cooling: Central Air Loading Facilities: None Interior Features: Finished; Finished to Suit Exterior: Corner Lot; Dual Street Ftg; Roof Sign; Building Sign Fencing: None Parking Features: Free Electric: SRP Gas: City Gas Water Source: City Franchise Sewer: Sewer - Public New Financing: Cash Only; Cash to Loan; Owner May Carry; Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call; No Notification Required to Show Lockbox Type: None Source of Fincl Data: Owner; Other (See Remarks) Existing 1st Loan: Treat as Free&Clear Existing 2nd Loan: Treat as Free&Clear Existing 3rd Loan: Treat as Free&Clear Road Surface Type: Gravel Environmental: None; Other (See Remarks)
IDX
Listing Office: R.O.I. Properties
Last Updated: May - 16 - 2025
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