THE INFORMATION CONTAINED HEREIN WAS OBTAINED FROM SOURCES DEEMED RELIABLE, BUT IS NOT GUARANTEED BY THE BROKER. ALL DIMENSIONS, SIZES AND FIGURES ARE APPROXIMATE. THE PROPERTY IS SUBJECT TO PRIOR SALE, PRICE CHANGE OR WITHDRAWAL.

8141 E Indian Bend Rd, Suite 103Scottsdale AZ 85250Tel: (480) 443-8570Fax: (480) 443-3736www.westland-properties.com

EXCLUSIVE LISTINGRESIDENTIAL DEVELOPMENT OPPORTUNITY

AVONDALE BLVD & LOWER BUCKEYE RD | AVONDALE, ARIZONA

LOCATION Site is located at the Northwest corner of Avondale Blvd & Lower BuckeyeRd, Avondale, Arizona

NUMBER OF ACRES ±12.2

CONCEPTUAL USE 62 Single Family Lots | 45’ x 115’ | 5.08 DUASee attached Concept Plan from CVL Consultants

CURRENT ZONING PAD / City of Avondale

GENERAL PLAN Local Commercial / City of Avondale

SUGGESTED PRICE $1,800,000 | $147,540/Acre | $3.38/sf | $29,032/Conceptual Lot

SUGGESTED TERMS Cash. 45-day Feasibility Period with a close of escrow upon FinalEngineered Subdivision Plat approval with the City of Avondale

UTILITIES WaterSewerElectric

City of AvondaleCity of AvondaleSalt River Project

CONTACT Grant D. Helgeson, Don McCaulWestland Properties Group

COMMENTS This is a well-located residential infill opportunity with close proximity totransportation corridors, employment, retail, churches and communityamenities. Site is adjacent to Del Rio Ranch Master Plan in Avondale.2019 Annual Taxes estimated at $28,761 as Vacant Parcels.

City of Avondale Single Family Impact Fees are $17,707/Lot.

Lower Buckeye Rd

Avon

dale

Blv

d

W Whyman Ave

W Lower Buckeye Rd

S A

vond

ale

Blv

d

S 113th Dr

Unn

amed

Str

eet

W Rio Vista Ln

W 1

12th

Dr

S 11

4th

Ln W Mountain View Dr

W Del Rio Ln

S 11

3th

Ave

W Magnolia St

S 11

7th

Ave

S 11

4th

Cir

Unnamed Street

Maricopa County Assessor's Office

DEVELOPMENT OPPORTUNITY±12.2 ACRES | ZONED PADAVONDALE BLVD & LOWER BUCKEYE RDAVONDALE, ARIZONA

8141 E Indian Bend Rd, Ste 103 Scottsdale AZ 85250Tel: (480) 443-8570 / Fax: (480) 443-3736www.westland-properties.com

WPG WESTLAND PROPERTIESGROUP|Grant D Helgeson, Broker - Direct: (480) 675-5149

Don McCaul, Broker - Direct: (480) 675-5144

Lower Buckeye Rd

Buckeye Rd

Van Buren St

El M

irage

Rd

W McDowell Rd

S 91

st A

ve

N 9

9th

Ave

N 1

07th

Ave

N 8

th S

tN

Dys

art R

d

N A

vond

ale

Blv

d

N 9

1st A

ve

S 99

th A

ve

S 10

7th

Ave

S A

vond

ale

Blv

d

Coldwater Springs

Oldaker

AH

MP

HG

Phoenix

Del Rio 3

Del Rio Ranch

Tolleson

TUSD

TGV

TRW

Rados

Stotz

Roosevelt Park

A110

Vista del Verde

Roosevelt Park II

ADOT

B65C

101R

TRW

AZEJM

Farmington Park

101VB

Cemex

EVT

Caballo

PB&J

Park Forest

Elgin

JL

Empire

Lapour

Stead

Ertefai

545657Avondale

CHBT

Virtua

Virtua

TRWPark 10

VTRL

PTH

Tait

Rexco

LSTJKS

RWI

Lervick

AM

RMG

Hale

Stockdale

Cortez

1050

Avondale

Fairfield

Virtua

Moreland

Henderson

BCRE

Tres Rios Landing

Avondale

B65C

LBA

Maricopa Cty

Cantada Ranch

GriffithDesert Springs

LBA

Garfield

Boyd

Gunbo

Sesame

Stotz

RRD

Zuheir

Amigo

FER

Encanta

EMVB

Verma

Fleming

Iglesia

Carl

Pendleton

Marbella Park

Allison

Meadows

Country Place

Dixon

EHR

Croatia

Grant

Gallo

CP24

River

RMG 2010

Rousseau

Hogan

Rexco

Maxon

Rio Estrella

Desert Shoals

Henderson

WSLPalm Valley

Moreland

FRHPAGRP

Mortensen

CTCSheely

Walgreens

APS

McKeown

10

101

Maricopa County Assessor's Office

DEVELOPMENT OPPORTUNITY±12.2 ACRES | ZONED PADAVONDALE BLVD & LOWER BUCKEYE RDAVONDALE, ARIZONA

8141 E Indian Bend Rd, Ste 103 Scottsdale AZ 85250Tel: (480) 443-8570 / Fax: (480) 443-3736www.westland-properties.com

WPG WESTLAND PROPERTIESGROUP|Grant D Helgeson, Broker - Direct: (480) 675-5149

Don McCaul, Broker - Direct: (480) 675-5144

Meyers Index Rating

SITE REPORT

2625 S 116th Ave, Avondale AZ 85323

Prepared by Ben Sanchez at Westland Properties Group

ARIZONA

5742625 S 116th Ave, Avondale AZ 8532333.4216N -112.3080W

1

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Parcel Details

2

PARCEL CHARACTERISTICS

APN

50033005Lot Size

531,785 sq ft

Zoning

PLANNED AREA DEVELOP…Lot Size

12.21 acres

Land Use

COMMERCIAL ACREAGE

OWNER INFORMATION

NameAVONDALE & LOWER BUCKEYE LLP

Address8800 N GAINERY CENTER DR #255, SCOTTSDALE AZ, 85258

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Economy

3

Phoenix-Mesa-Scottsdale CBSA Metro Area

JOB GROWTH year-over-year

May 2019 Job Growth:

67,500new jobs

2019 Job Forecast:

58,259new jobs

2015

-230,900

173,175

-173,175

115,450

-115,450

57,725

-57,7250

1999

2011

2020

F19

9520

0719

9120

03

UNEMPLOYMENT RATE

Apr. 2019 Unemployment:

4.3%Unemployment 2019 Forecast:

4.1%

2000

4.0

8.0

12.0

2.0

6.0

10.0

0.0

2020

F19

9020

10

Maricopa County

JOB GROWTHyear-over-year

June 2019 Job Growth:

58,141new jobs

2019 Job Forecast:

57,634new jobs

1995

-226,100

169,575

-169,575

113,050

-113,050

56,525

-56,5250

2007

1977

1989

2001

2013

2020

F19

7119

83

TOP EMPLOYERS # employees

Banner Health 9,996

American Express 7,269

Honeywell 6,265

Dignity Health 5,570

Bank Of America 5,086

ANNUAL JOB GROWTH BY SECTOR

TTU

20,47516,38012,285

8,1904,095

0-4,095

NRMPBSOMIHGFEHCON

EMPLOYMENT BY SECTOR

Trade, Transport & Utilities (TTU)

19.2%

Professional & Business Services (PBS)

17.1%

Other (O)3.3%

Natural Resource Mining (NRM)

0.1%

Manufacturing (M)6.1%

Information (I)1.9%

Hospitality (H)10.8%

Government (G)10.4%

Finance (F)9.3%

Education & Health (EH)

15.7%

Construction (CON)6.2%

OFFICE ABSORPTION

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Community

4

Zip Code 85323

HOUSEHOLD INCOME

2019E Median Household Incomes:

$54,943

2019E

60,400

67,950

22,650

30,200

37,750

45,300

52,850

2000 2024F

POPULATION BY AGE

2019E Median Age:

29year 9month

85+

15,775.0

9,465.0

3,155.0

12,620.0

6,310.0

0.0

75 to

84

65 to

74

55 to

64

45 to

54

35 to

44

25 to

34

15 to

24

Under 15

POPULATION GROWTH

2019E Population Growth:

1.24%2024F Population Growth:

1.88%

2024F

63,700

54,600

45,500

36,400

18,200

9,100

27,300

2019E20102000

ETHNICITY

Others18.0%

Two Plus3.1%

American Indian1.2%

Pacific Islander0.3%

Asian2.1%

Black7.4%

White29.9%

Hispanic37.9%

HOUSEHOLD GROWTH

2019E Household Growth:

10.91%2024F Household Growth:

1.77%

2024F

7,935

15,870

5,290

13,225

2,645

10,580

18,515

2019E20102000

SCHOOLS score

Estrella Vista Elementary School 4/10

Littleton Elementary District -

Tolleson Union High School District -

La Joya Community High School 3/10

CRIME RATE per 1,000 people 85323 Arizona

Total Crime Rate:

32.54 34.43Violent Crime Rate:

3.66 4.1Property Rate:

28.89 30.33

WALKABILITY

Walk Score: 25/100

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Supply

5

Maricopa County

PERMITS last twelve months

May 2019 Total Residential Permits:

24,466 Single-family Multifamily

2004

14,585

29,170

43,755

58,340

72,925

020161988 2000 20121984 1996 2008 2019LTM1980 1992

# OF LISTINGS

May 2019 # of Listings:

23,896listings

2019

CM

29,12028,000

26,88025,760

22,400

24,640

23,520

2018

2017

2016

2015

2014

2013

DAYS ON MARKET

Apr. 2019 Days on Market:

60days

2014

60

120

75

90

45

105

2019

CM20

10

City of Avondale

PERMITS last twelve months

May 2019 Total Residential Permits:

131 Single-family Multifamily

2019LTM

1,845

1,230

3,075

615

2,460

0201820172016201520142013201220112010200920082007200620052004

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Supply

6

Sold Out ProjectUpcoming ProjectActive ProjectNEARBY PROJECTS

PROJECTNO BUILDER UNIT SIZE TYPE

Del Rio Ranch D.R. Horton 1544-2548 Detached1 $222,990 - $255,9901111111111111111111111111111

Del Rio Ranch Wilson Parker Homes 1544-2556 Detached2 $197,600 - $236,000222222222222222222222222222222222222222222222

Del Rio Ranch/48s Garrett Walker Homes 1209-3340 Detached3 $174,990 - $272,99033333333333333333333333333333333333333333333333333

Del Rio Ranch/53s Garrett Walker Homes 1581-3560 Detached4 $215,990 - $273,9904444444444444444444444444444444444444444444444444444

Del Rio III Garrett Walker Homes 1581-3340 Detached5 $218,990 - $276,990555555555555555555555555555555555555555555555555

PRICE RANGE

Rimrock at Del Rio Ranch Courtland Communities 2055-3212 Detached6 $205,990 - $243,9906666666666666666666666666666666666666666666666666

Del Rio Ranch Richmond American Homes 2308-3439 Detached7 $240,990 - $286,990777777777777777777777777777777777777777777777

Cantada Ranch/55s & 65s Garrett Walker Homes 1870-3340 Detached8 $239,990 - $339,900888888888888888888888888888888888888888888888888888

Cantada Ranch/84s Garrett Walker Homes 2619-2619 Detached9 $334,288 - $334,28899999999999999999999999999999999999999999999

Del Rio IV Garrett Walker Homes 1581-2619 Detached10 $234,990 - $278,9901010101010101011010101010101010100101000010101010101011001010100010101001011011000

Del Rio Ranch II Richmond American Homes 2407-2407 Detached11 $253,990 - $253,9901111111111111111111111111111111111111111111111111111111111111111111111111

Del Rio Ranch/53' Beazer Homes - Detached12 -121212121212121212121222122122121212212212

Del Rio Ranch/48' Beazer Homes - Detached13 -1313131313131313313313133131313131313333131333

Park Forest/45s Garrett Walker Homes 1315-3018 Detached14 $213,990 - $285,990141414144141414141414141414141414141414141414144414414414444444414444444444414444414

Park Forest/50s Garrett Walker Homes 1315-3018 Detached15 $213,990 - $285,990151515151515151515155515151515151551515155515151551555515555551515151555

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Sales

7

Maricopa County

Total Home Closings last twelve months

May 2019 Total Home Closings:

112,825May 2019 Total Existing Closings:

98,086May 2019 Total New Closings:

14,739

2010

144,645

96,430

241,075

48,215

192,860

02008 2019LTM20062004 20162002 20142000 2012

Tota

l Hom

e Sa

les

City of Avondale

Total Home Closings last twelve months

May 2019 Total Home Closings:

1,633May 2019 Total Existing Closings:

1,516May 2019 Total New Closings:

117

2010

3,525

2,350

5,875

1,175

4,700

02008 2019LTM20062004 20162002 20142000 2012

Tota

l Hom

e Sa

les

85323 Zip Code

Total Home Closings last twelve months

May 2019 Total Home Closings:

824May 2019 Total Existing Closings:

721May 2019 Total New Closings:

103

2010

655

1,310

1,965

2,620

3,275

02008 2019LTM20062004 20162002 20142000 2012

Tota

l Hom

e Sa

les

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Prices

8

City Of Avondale

CLOSING HOME PRICE

May 2019 Median Detached New:

$252,259May 2019 Median Detached Existing:

$229,869

2010

98,200

196,400

294,600

49,100

147,300

245,500

343,700

2008 2019LTM20062004 20162002 20142000 2012

85323 Zip Code

CLOSING HOME PRICE

May 2019 Median SFD New:

$246,458May 2019 Median SFD Existing:

$220,905

2010

310,440258,700206,960155,220103,480

51,7400

2008 2019LTM20062004 20162002 20142000 2012

DETACHED AFFORDABILITY

New Existing

2011

60

40

100

20

80

0

2016

2006

2018

CLOSINGS BY PRICE RANGE last twelve months

New Existing

280K

-4.6M

340

85

425

170

255

0

240K

-280K

200K

-240K

160K

-200K

120K

-160K

80K-12

0K

40K-80

K0-4

0K

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019 Distress

9

City of Avondale

HOUSING TRANSACTION VOLUME BY TYPE last twelve months

New Existing Foreclosure Sale Foreclosure NOD

2019LTM

760

1,520

380

1,140

1,900

02018201720162015

NOTICES OF DEFAULT & FORECLOSURES last twelve months

May 2019 Total Foreclosures:

44May 2019 Notices of Default:

534

2010

3,000

750

3,750

1,500

2,250

02008 2019LTM20062004 20162002 20142000 2012

85323 Zip Code

NOTICES OF DEFAULT & FORECLOSURES last twelve months

May 2019 Total Foreclosures:

24May 2019 Notices of Default:

280

2010

830

1,660

415

1,245

2,075

02008 2019LTM20062004 20162002 20142000 2012

2625 S 116th Ave, Avondale AZ 85323, July 09, 2019

10

DEFINITIONS AND METHODOLOGY

All information presented involved the assembly of data sources that we consider to be reliable, including the Bureau of Labor Statistics, CBRE- EA, Nielsen Claritas, Public Record Data, Moody’s Analytics, Great Schools, U.S. Bureau of the Census, Zillow, various regional Multiple Listing Service providers, Meyers Research and Zonda. We do not guarantee any data accuracy as all information is subject to human errors, omissions, and/or changes.

AbbreviationsAVG - AverageC - CurrentCBSA - Core Based Statistical AreaCHG - ChangeCM - Current Month E - Estimated

F - ForecastL3M - Last 3 Months LTM - Last 12 MonthsP - PartialYTD - Year To DateYOY - Year Over Year

is a proprietary index that produces a score ranging from 0 to 1,000 for a geographic area, ranging from the nation to a specific zip code. A higher index score captures the desirability of housing development for the selected area and is calculated using specific data sets weighted to interpret the strength of the market. Such metrics include price appreciation, sales activity, permit activity, demographic growth, household income levels, school scores, and affordability.

Meyers Index

measures the walkability of a zip code from 0 - 100 using a patented system based on access to amenities, population density and road metrics. Methodology and full walk score scale can be viewed at https://www.walkscore.com/methodology.shtml.

Walk Score

ABOUT US

Meyers Research combines experienced real estate and technology advisors with leading data to provide our clients with a clear perspective and a strategic path forward. Based in Beverly Hills, we are home to 150 experts in 10 offices across the country.

Get More Out Of ZondaExpand coverage to nearby regions to grow your footprint.

Get More Out Of ServicesDevelop a comprehensive pricing and absorption strategy.

Contact Usmeyersresearchllc.comhello@meyersresearchllc.com(858) 381-4390Score ranges:

0-49 - car dependent area50-69 - somewhat walkable90-100 - daily errands do not require a car.