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Original ChopShop & Minnow - 2 Tenant NNN 4501-4505 N 32nd St 4,369 SF 100% Leased Retail Building Phoenix, AZ 85018 $4,955,966 ($1,134.35/SF) 6% Cap Rate
Investment Highlights
- NNN Leases with Two Restaurant Brands - ChopShop has 27 Locations and Minnow is Part of an Established Phoenix-Based Restaurant Group
- Both Tenants Performing Extremely Well – Strong Reported Store Sales
- Annual Rental Increases with Multiple Renewal Options
- Very Desirable Location in the Arcadia Neighborhood - Adjacent to the Biltmore Corridor
- Dense Trade Area in the Heart of Phoenix's Arcadia Neighborhood - Daytime Population Exceeds 531,000 People within a 5-Mile Radius
- Hard Corner Location, Easily Accessible by ±44,500 Cars per Day
Executive Summary
Original ChopShop was founded in Scottsdale, Arizona in 2013 and now operates 27 locations and counting throughout the Phoenix, Tucson, Dallas, Houston, and Atlanta markets. Original ChopShop serves protein bowls, juices, salads, and sandwiches made from scratch. Original ChopShop provides a warm, welcoming place where guests “Fuel Their Well-Being” with flavorful food that’s “Chopped-in-Shop” daily with real, quality ingredients.
Minnow is a sushi, matcha, and cocktail bar that opened its first location in Phoenix in 2025. Open from 7am to 8pm daily (9pm on Fridays and Saturdays), Minnow aims to be the kind of place people can stop in for a morning matcha, come back for lunch, swing by for happy hour, or settle in for dinner and cocktails. The menu is centered around fresh sushi, craveable small plates, and a thoughtful matcha program, alongside craft cocktails, beer, and wine.
The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, Metro Phoenix had 4.8 million residents, making it the nation’s 11th-largest metropolitan area. The largest city is Phoenix, which encompasses about 520 square miles and boasts a population of more than 1.6 million.
Minnow is a sushi, matcha, and cocktail bar that opened its first location in Phoenix in 2025. Open from 7am to 8pm daily (9pm on Fridays and Saturdays), Minnow aims to be the kind of place people can stop in for a morning matcha, come back for lunch, swing by for happy hour, or settle in for dinner and cocktails. The menu is centered around fresh sushi, craveable small plates, and a thoughtful matcha program, alongside craft cocktails, beer, and wine.
The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, Metro Phoenix had 4.8 million residents, making it the nation’s 11th-largest metropolitan area. The largest city is Phoenix, which encompasses about 520 square miles and boasts a population of more than 1.6 million.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,369 SF
Building Class
A
Year Built
2018
Price
$4,955,966
Price Per SF
$1,134.35
Cap Rate
6%
NOI
$297,358
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
0.60 AC
Zoning
C-1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 170-21-036A | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $231,453 |
Property Taxes
Parcel Number
170-21-036A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$231,453
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Original ChopShop & Minnow - 2 Tenant NNN | 4501-4505 N 32nd St
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