Shopping Center with Development
10430 North 19th Avenue, Phoenix, AZ 85021
For Sale
Contact for pricing
A 92%-leased neighborhood center is offered with a C-3 parcel that has curb cuts on both frontages.
Property Size12,435 SF
Price / SF$305.59
Days on Market39
Property Features for 10430 North 19th Avenue
General Information
Standard status
Size
Property subtype
Occupancy
Net Operating Income
Site & Location
Neighborhood
Traffic Count
Highway Access
Road Access
Additional Details
Land Use
Tenant in Place
Building Details
Tenancy
Listing Agency:
Newmark
Listed By:
Jesse Goldsmith · License AZ SA586241000
(480) 241-5146
Source:
Crexi
Added: Oct 2
Changed: Nov 8
Last Checked: Nov 8 at 6:26PM
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 Newmark
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Investment Insights
Based on property information with market context.
Milsam Plaza comprises a 12,435-square-foot retail center leased to 92% and a separate 0.52-acre parcel at a hard corner. Recent work includes stucco, paint, signage and several HVAC replacements; full asphalt and roof replacements are planned. The land is zoned C-3 and has curb cuts on both frontages. A ground lease with Zipline International for drone charging and maintenance is pending.
The property is at 10430 and 10452 North 19th Avenue in Phoenix, about one mile from I-17. Combined traffic on 19th Avenue and Peoria Avenue is approximately 42,960 vehicles per day. The surrounding area includes more than 152,000 residents within a 3-mile radius, along with daytime employment and infill housing.
The property is at 10430 and 10452 North 19th Avenue in Phoenix, about one mile from I-17. Combined traffic on 19th Avenue and Peoria Avenue is approximately 42,960 vehicles per day. The surrounding area includes more than 152,000 residents within a 3-mile radius, along with daytime employment and infill housing.
Key Highlights
- 12,435‑square‑foot retail center with 92% occupancy
- Separate 0.52‑acre C‑3 parcel at a hard corner
- Curb cuts on both frontages; ground lease with Zipline International is pending
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,543
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,810,860
$2.8M
Cap Rate 7%
$2,007,757
$2.0M
Cap Rate 9%
$1,561,589
$1.6M
Market Conditions
NOI Build-Up for 12,435 SF
Gross rent
$223.8K $18.00/SF
− Vacancy
−$23.1K −$1.85/SF
EGI
$200.8K $16.15/SF
− OpEx
−$60.2K −$4.84/SF
NOI
$140.5K $11.30/SF
Area
Phoenix, AZ
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,810,860
Cap Rate 7%
$2,007,757
Cap Rate 9%
$1,561,589
Alternative Uses
Best Use
Retail
$2.01M
$1.76M – $2.34M
NOI $140,543 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.77M
$3.30M – $4.39M
NOI $263,667 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
42,960 VPD
Traffic count
92%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Shopping centers in Phoenix
Vacancy Rate% for Retail in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Shopping center - A 92%-leased neighborhood center is offered with a C-3 parcel that has curb cuts on both frontages.
Where is this shopping center located?
The property is located at 10430 North 19th Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 12,435‑square‑foot retail center with 92% occupancy; Separate 0.52‑acre C‑3 parcel at a hard corner; Curb cuts on both frontages; ground lease with Zipline International is pending
