Restaurant Space with Commercial
114 W Adams St Unit C103, Phoenix, AZ 85003
For Sale
$1,800,000
A built-out restaurant includes a dining room, bar area, kitchen infrastructure, and storage.
Property Size9,445 SF
Price / SF$190.58
Days on Market483
Property Features for 114 W Adams St Unit C103
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Versatile Properties
Listed By:
Jeremy Solem · License AZ SA585119000
(602) 327-7538
Source:
Arizonahomeselling
Added: Jul 20, 2025
Changed: Nov 11
Last Checked: Sep 20 at 8:20AM
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 Versatile Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,445-square-foot restaurant space occupies suite C103 in the Orpheum Lofts at 114 W Adams Street. The build-out includes a dining area, bar, kitchen infrastructure, and storage. The property information lists zoning as C-DT / COMMERCI.
The space is in downtown Phoenix. Potential kitchen equipment is identified separately from the space and may be available through a separate bill of sale.
The space is in downtown Phoenix. Potential kitchen equipment is identified separately from the space and may be available through a separate bill of sale.
Key Highlights
- 9,445‑square‑foot restaurant space
- Dining area and bar setup
- Kitchen infrastructure and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,768
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,815,360
$2.8M
Cap Rate 7%
$2,010,971
$2.0M
Cap Rate 9%
$1,564,089
$1.6M
Market Conditions
NOI Build-Up for 9,445 SF
Gross rent
$204.0K $21.60/SF
− Vacancy
−$16.3K −$1.73/SF
EGI
$187.7K $19.87/SF
− OpEx
−$46.9K −$4.97/SF
NOI
$140.8K $14.90/SF
Area
Phoenix, AZ
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,815,360
Cap Rate 7%
$2,010,971
Cap Rate 9%
$1,564,089
Alternative Uses
Best Use
Specialty Retail
$2.01M
$1.76M – $2.35M
NOI $140,768 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,268 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,685
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85003, AZ
11,042
Population
6,117
Households
1.8
Avg Household Size
37
Median Age
45%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
5,812
Density / Sq Mi
$56,672
Median Household Income
$55,122
Median Earnings
$1,258
Median Rent
$577,700
Median Home Value
Market
Average Price Trend$/SF for Conventional restaurants in Phoenix, AZ
Properties on Market for Conventional restaurants in Phoenix
Vacancy Rate% for Retail in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A built-out restaurant includes a dining room, bar area, kitchen infrastructure, and storage.
Where is this conventional restaurant located?
The property is located at 114 W Adams St Unit C103 Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 9,445‑square‑foot restaurant space; Dining area and bar setup; Kitchen infrastructure and storage
