Seller recently engaged a respected local zoning attorney to communicate with the City of Tempe's planning and zoning department regarding potential re-development of the Tempe Plaza site. After numerous conversations with City Officials the attorney's opinion on re-developing the site is a mixed use approach, including Retail along the Price and Baseline frontage roads with 240+/- Multifamily or 300+/- Independent / Assisted Living units.
Property is located on the northwest corner of Baseline and Price / 101 at the heart of the Tempe, Mesa border. 133-35-001F & 133-35-001GTempe, AZ 8 acres site Baseline Rd and the Price 101 Freeway; minutes from ASU & Banner Medical Center.
Property is currently known and operated as Tempe Plaza a 75,000+/- SF neighborhood retail center built in 1972 zoned PCC1 with current income. Landlord has early termination rights.
7.92 AC offered at $7,995,000