Phoenix, AZ
Commercial Real Estate Market Trends & Data

$390 per SF Avg asking sale price
$25 per SF Avg asking lease rate
13,754 SF Avg unit lease size
25,777 SF Avg building size for sale
6.84% Average cap rate

Phoenix's Demographic Profile

Phoenix has 610,614 households and a median income of $70,283, providing context for rent absorption and tenant demand across retail and multifamily assets. A +7% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 1,674,216
# Households 610,614
Median age 36
Median household income $70,283
Avg household size 3.0
Renter-occupied housing units 280,273
5-year population change +7%

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Phoenix $358 28,157 SF 9.00%
Sun City $335 35,972 SF 8.69%
Glendale $351 20,919 SF 8.26%
Paradise Valley $756 6,198 SF 7.20%
El Mirage $331 58,147 SF 7.50%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Phoenix $452 27,436 SF 9.00%
Glendale $300 59,160 SF 6.57%
Nearby Retail Markets Avg Cost/SF Typical Size
Phoenix $487 13,060 SF
Sun City $343 10,292 SF
Glendale $609 21,682 SF
Paradise Valley $804 5,644 SF
El Mirage $327 13,713 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Phoenix $300 25,494 SF 8.58%
Glendale $266 20,208 SF 4.81%
Paradise Valley $970 1,886 SF 5.93%
Peoria $284 8,667 SF 3.79%
Tempe $273 37,219 SF 6.47%

Commercial Properties For Sale in Phoenix

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Sanctuary On 22nd

Phoenix, AZ 85021

  • 195,223 SF Multifamily
  • $95,000,000
For Sale

Palm Aire Apartments

Phoenix, AZ 85017

  • 126,499 SF Multifamily
  • $45,000,000
For Sale

Eclipse Apartments

Phoenix, AZ 85051

  • 60,040 SF Multifamily
  • $17,500,000
For Sale

17 Commercial Assets

  • Price Upon Request
For Sale

Valle View at the Pointe

Phoenix, AZ 85020

  • 4.76 AC Lot
  • 1 Residential Income Lot
  • Price Upon Request
For Sale

George Gervin Prep Academy

Phoenix, AZ 85040

  • 33,334 SF Specialty
  • $13,850,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Phoenix pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Phoenix $390 25,777 SF
Sun City $390 18,991 SF
Glendale $409 38,150 SF
Paradise Valley $619 5,748 SF
El Mirage $303 115,179 SF

Multifamily Properties For Sale in Phoenix

For Sale

The Mark

Scottsdale, AZ 85251

  • 123,407 SF Multifamily
  • $1,200,000
For Sale

Tapestry on Central

Phoenix, AZ 85004

  • 392,000 SF Multifamily
  • $375,000
For Sale

Tapestry on Central

Phoenix, AZ 85004

  • 392,000 SF Multifamily
  • 6.65% Cap Rate
  • $1,050,000
For Sale

Orpheum Lofts

Phoenix, AZ 85003

  • 137,000 SF Multifamily
  • $750,000
For Sale

Alba Residences

Phoenix, AZ 85004

  • 186,369 SF Multifamily
  • Price Upon Request

Regional Demographic Comparison

This comparison places Phoenix alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Phoenix or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Phoenix 1,674,216 610,614 36 $70,283 3 280,273 7%
Sun City 43,881 26,656 74 $47,571 2 4,433 9%
Glendale 257,237 89,166 35 $64,916 3 40,273 7%
Paradise Valley 14,357 5,392 53 $218,050 3 248 10%
El Mirage 34,874 9,938 31 $69,610 3 3,263 6%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Phoenix, AZ and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Phoenix

View All Commercial Real Estate For Sale in Phoenix
Is Phoenix a good market for a first-time commercial real estate investor?

Phoenix offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Phoenix?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Phoenix. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Phoenix?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Phoenix. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Phoenix compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Phoenix. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Phoenix acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Phoenix, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

Nearby Market Trends