Four-Bay Block Auto
For Sale
$624,999
Pending
11 W ILLINI Street, Phoenix, AZ 85041
Fenced yard and flexible commercial zoning support a range of automotive and commercial operations.
Property Size2,101 SF
Days on Market497
Property Features for 11 W ILLINI Street
General Information
Standard status
Pending
Size
2,101 SF
Property subtype
Commercial/Industrial
Additional Details
Fenced Yard
Yes
Service Bays
4
Taxes and HOA fees
Annual Taxes
$2,222
Building Details
Year Built
1965
Construction
solid block
Listing Agency:
Realty ONE Group
(623) 552-3773
Listed By:
Ana Velazquez · License #SA675450000
(602) 446-0125
Source:
Exitrealty
Added: May 28, 2025
Changed: Oct 4
Last Checked: Oct 4 at 8:57AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
Located at 11 W Illini Street in Phoenix, this 2,101-square-foot auto shop was built in 1965 and features solid block construction with four bays. The property also includes a secure fenced yard and zoning that permits flexible commercial use.
The site is positioned near light rail and within minutes of Downtown Phoenix, providing access to surrounding neighborhoods and the downtown area. An adjacent property is also available from the same owner, creating the potential to combine the parcels for a live/work or other multi-use configuration, subject to applicable approvals.
The site is positioned near light rail and within minutes of Downtown Phoenix, providing access to surrounding neighborhoods and the downtown area. An adjacent property is also available from the same owner, creating the potential to combine the parcels for a live/work or other multi-use configuration, subject to applicable approvals.
Key Highlights
- Four‑bay auto shop with 2,101 square feet
- Solid block construction; built in 1965
- Secure fenced yard included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,788
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,760
$395.8K
Cap Rate 7%
$282,686
$282.7K
Cap Rate 9%
$219,867
$219.9K
Market Conditions
NOI Build-Up for 2,101 SF
Gross rent
$31.5K $15.00/SF
− Vacancy
−$3.2K −$1.55/SF
EGI
$28.3K $13.46/SF
− OpEx
−$8.5K −$4.04/SF
NOI
$19.8K $9.42/SF
Area
ZIP 85041
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,760
Cap Rate 7%
$282,686
Cap Rate 9%
$219,867
Alternative Uses
Best Use
Retail
$282.7K
$247.4K – $329.8K
NOI $19,788 @ 7.0% cap · market cap 3.17%
Second Best
Flex RnD
$278.1K
$243.4K – $324.5K
NOI $19,469 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$635.1K
$555.7K – $740.9K
NOI $44,456 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85041, AZ
64,639
Population
19,729
Households
3.3
Avg Household Size
31
Median Age
19%
College-Educated
76%
High-School Grad
16.0 sq mi
ZIP Area
4,040
Density / Sq Mi
$70,555
Median Household Income
$40,006
Median Earnings
$1,612
Median Rent
$310,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Phoenix, AZ
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- C & S Tires Tune-Ups And More — 4425 S 7th Ave, Phoenix, AZ 85041
- Arellano Tire Shop — 4406 S 7th Ave, Phoenix, AZ 85041
Frequently Asked Questions
What type of property is this?
Auto shop - Fenced yard and flexible commercial zoning support a range of automotive and commercial operations.
Where is this auto shop located?
The property is located at 11 W ILLINI Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $624,999.
What are key features of this property?
This property features: Four‑bay auto shop with 2,101 square feet; Solid block construction; built in 1965; Secure fenced yard included
