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Shops on Thomas 2 Retail Properties Offered at $3,500,000 in Phoenix, AZ

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INVESTMENT HIGHLIGHTS

  • Additional 0.43 AC Land in the back of the strip center
  • The center benefits from 46,000+ VPD, ensuring high visibility and strong daily traffic.
  • Immediate value-add upside

EXECUTIVE SUMMARY

This value add strip mall property is positioned in a high traffic retail corridor with frontage on Thomas Road carrying approximately 40,834 vehicles per day and sits directly across from 320 new multifamily units coming online. The center is 86% occupied with 2 vacant suites and features below market rents averaging approximately $8.00 per square foot in a market achieving closer to $18.00 per square foot, creating meaningful near term upside through lease up and re pricing. Just down the road is a dominant neighborhood retail center anchored by a Walmart in the 13th percentile and a Home Depot in the 5th percentile for visitation according to Placer.ai. Combined with limited nearby retail supply, this high traffic setting supports durable tenant demand and immediate upside.

PROPERTY FACTS

Price $3,500,000
Price / SF $161.25 / SF
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 21,705 SF
Total Land Area 1.89 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
3402 E Thomas Rd, Phoenix, AZ 85018 Retail 12,372 SF 1960 -
3414-3420 E Thomas Rd, Phoenix, AZ 85018 Retail 9,333 SF 1958 -
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  • Listing ID: 38995910

  • Date on Market: 1/7/2026

  • Last Updated:

  • Address: Shops on Thomas, Phoenix, AZ

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