Avondale Retail Property For
For Sale
$7,806,000
10105 W McDowell Rd, Avondale, AZ 85392
Two-tenant retail property in Avondale, Arizona, 100% occupied.
Property Size24,500 SF
Price / SF$318.61
Days on Market209
Property Features for 10105 W McDowell Rd
General Information
Standard status
Active
Size
24,500 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
± 6.67 Years
Net Operating Income
$491,784
Building Details
Building Size
24,500 SF
Year Built
2017
Units
2
Listing Agency:
Matthews Real Estate Investment Services | Phoenix
Listed By:
Josh Jenkins · License #BR687098000 (AZ)
(602) 932-5916
Source:
Matthews
Added: Mar 27
Changed: Oct 16
Last Checked: Oct 20 at 5:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services | Phoenix
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-tenant retail property is located in Avondale, Arizona. The property is 100% occupied by Boot Barn and OX Korean BBQ. Boot Barn has demonstrated its commitment to the location by executing a 10-year lease extension and expanding its footprint by over 7,500 SF. This location is ranked as the #2 most visited Boot Barn in Arizona and ranks in the top 97% in the US per Placer.ai data. OX Korean BBQ has multiple restaurant concepts including the adjacent Chinese Buffet. The property is situated within Gateway Crossing, a community shopping center with a roster of national retailers including Hobby Lobby, Best Buy, and Old Navy. The site is located directly across from the Gateway Pavilions regional center, anchored by Costco, Ross, Marshalls, and Harkins Theaters, which draws over 5.4 million annual visitors. The property's location provides high visibility and convenient access, adjacent to the on-ramp for the I-10 Freeway (216,000 VPD) and frontage on W McDowell Rd (80,000 VPD) at the intersection of N 99th Avenue and McDowell Rd. The immediate trade area has a population of 338,600 people and an average household income of $93,120 within five miles. There are over 15,000 new housing units under construction.
Key Highlights
- 100% occupied by national credit tenant Boot Barn (NYSE: BOOT) and OX Korean BBQ, providing secure cash flow.
- Located in Gateway Crossing, a dominant shopping center with high visitor traffic, near the Gateway Pavilions regional center.
- Boot Barn recently extended its lease for 10 years and expanded its footprint**, ranking as the #2 most visited in Arizona.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$308,906
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,178,120
$6.2M
Cap Rate 7%
$4,412,943
$4.4M
Cap Rate 9%
$3,432,289
$3.4M
Market Conditions
NOI Build-Up for 24,500 SF
Gross rent
$464.5K $18.96/SF
− Vacancy
−$23.2K −$0.95/SF
EGI
$441.3K $18.01/SF
− OpEx
−$132.4K −$5.40/SF
NOI
$308.9K $12.61/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,178,120
Cap Rate 7%
$4,412,943
Cap Rate 9%
$3,432,289
Alternative Uses
Best Use
Retail
$4.41M
$3.86M – $5.15M
NOI $308,906 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.58M
$6.63M – $8.84M
NOI $530,496 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
603k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 30%
Apparel 26%
Dining 19%
Shops & Services 18%
Costco Wholesale
Superstores
181,342 visits/mo
0.2 miles
Costco Gasoline
Shops & Services
80,087 visits/mo
0.2 miles
Marshalls
Apparel
61,500 visits/mo
0.1 miles
Harkins Theatres Gateway Pavilions 18
Leisure
44,313 visits/mo
0.2 miles
Burlington
Apparel
41,606 visits/mo
0.2 miles
Demographics for 85392, AZ
40,363
Population
14,481
Households
2.8
Avg Household Size
33
Median Age
25%
College-Educated
92%
High-School Grad
9.7 sq mi
ZIP Area
4,161
Density / Sq Mi
$84,965
Median Household Income
$47,259
Median Earnings
$1,829
Median Rent
$364,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Two-tenant retail property in Avondale, Arizona, 100% occupied.
Where is this retail space located?
The property is located at 10105 W McDowell Rd Avondale, AZ.
What is the asking price?
The asking price for this property is $7,806,000.
What are key features of this property?
This property features: 100% occupied by national credit tenant Boot Barn (NYSE: BOOT) and OX Korean BBQ, providing secure cash flow.; Located in Gateway Crossing, a dominant shopping center with high visitor traffic, near the Gateway Pavilions regional center.; Boot Barn recently extended its lease for 10 years and expanded its footprint**, ranking as the #2 most visited in Arizona.
