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507 E Broadway Rd 1,814 SF Retail Building Phoenix, AZ 85040 $950,000 ($523.70/SF) 6% Cap Rate
Investment Highlights
- Located in a designated Opportunity Zone, offering potential tax advantages.
- Current tenant is an auto repair shop under a net lease through December 2025.
- Positioned along a busy commercial corridor with strong vehicular traffic.
- Recently renovated in 2022 with updated finishes and functional improvements.
- Features three exterior bays with two lifts, supporting automotive operations.
- Ample on-site parking and C-3 zoning allow for flexible future uses.
Executive Summary
Prime Investment with Rare C-3 Zoning. Excellent opportunity to acquire a high-visibility commercial property generating strong income with a 6% cap rate. The 1,814 SF building is leased to an established auto repair tenant at $5,500/month, providing stable cash flow. Property has been recently remodeled and features a new roof, minimizing near-term capital expenses. Includes three exterior service bays with two lifts and ample parking. Located in a busy corridor with highly desirable and hard-to-find C-3 zoning, allowing for a wide range of commercial uses and long-term flexibility for investors or future redevelopment.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$66,000
|
$36.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$66,000
|
$36.38
|
| Taxes |
$8,621
|
$4.75
|
| Operating Expenses |
$300
|
$0.17
|
| Total Expenses |
$8,921
|
$4.92
|
| Net Operating Income |
$57,079
|
$31.47
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $66,000 |
| Annual Per SF | $36.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $66,000 |
| Annual Per SF | $36.38 |
| Taxes | |
|---|---|
| Annual | $8,621 |
| Annual Per SF | $4.75 |
| Operating Expenses | |
|---|---|
| Annual | $300 |
| Annual Per SF | $0.17 |
| Total Expenses | |
|---|---|
| Annual | $8,921 |
| Annual Per SF | $4.92 |
| Net Operating Income | |
|---|---|
| Annual | $57,079 |
| Annual Per SF | $31.47 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,814 SF
Building Class
B
Year Built
2000
Price
$950,000
Price Per SF
$523.70
Cap Rate
6%
NOI
$57,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
C-3
Nearby Major Retailers
Property Taxes
| Parcel Number | 113-37-083A | Total Assessment | $57,177 |
| Land Assessment | $0 | Annual Taxes | $8,621 ($4.75/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
113-37-083A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$57,177
Annual Taxes
$8,621 ($4.75/SF)
Tax Year
2025
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507 E Broadway Rd
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