El Mirage Convenience Store
For Sale
Contact for pricing
11817 West Thunderbird Road, El Mirage, AZ 85335
Convenience store for sale in growing Phoenix trade area.
Property Size2,303 SF
Price / SF$325.66
Days on Market112
Property Features for 11817 West Thunderbird Road
General Information
Standard status
Active
Size
2,303 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1993
Listing Agency:
Marcus & Millichap - Phoenix
(479) 785-4343
Listed By:
Grant Ziegler · License #SA712174000
Source:
Crexi
Added: May 11
Changed: Aug 8
Last Checked: Jul 23 at 11:30AM
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 Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
A convenience store is available for sale within the Phoenix MSA. The surrounding trade area is experiencing growth, with approximately 19,800 residents within a one-mile radius. Population and household projections indicate an increase of approximately three percent in the surrounding area over the next five years. The property benefits from a highly visible location along Thunderbird Road, immediately off U.S. Highway 60. Accessibility is enhanced by a combined traffic count of approximately 73,000 cars per day. The location is connected to Loop 101 and Loop 303, two of the area’s busiest regional highways, via U.S. Highway 60. The property size is 2,303 square feet.
Key Highlights
- High Visibility Location: Situated along Thunderbird Road, immediately off U.S. Highway 60, with a combined ±73,000 cars per day.
- Growing Trade Area: Located in the Phoenix MSA with ±19,800 residents within a one‑mile radius.
- Population Growth projected to increase approximately three percent in the surrounding area over the next five years.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,759
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$775,180
$775.2K
Cap Rate 7%
$553,700
$553.7K
Cap Rate 9%
$430,656
$430.7K
Market Conditions
NOI Build-Up for 2,303 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.3K $24.00/SF
− Vacancy
−$3.6K −$1.56/SF
EGI
$51.7K $22.44/SF
− OpEx
−$12.9K −$5.61/SF
NOI
$38.8K $16.83/SF
Area
Maricopa County, AZ
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$775,180
Cap Rate 7%
$553,700
Cap Rate 9%
$430,656
Alternative Uses
Best Use
Specialty Retail
$553.7K
$484.5K – $646.0K
NOI $38,759 @ 7.0% cap · market cap 5.17%
Second Best
Retail
$414.8K
$363.0K – $484.0K
NOI $29,037 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$712.4K
$623.3K – $831.1K
NOI $49,867 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 9%
Electronics 7%
Family Dollar
Shops & Services
7,192 visits/mo
0.4 miles
Freeway Insurance Services
Shops & Services
2,218 visits/mo
0.2 miles
La Bamba
Dining
1,017 visits/mo
0.4 miles
Boost Mobile
Electronics
833 visits/mo
0.3 miles
Demographics for 85335, AZ
35,815
Population
11,896
Households
3
Avg Household Size
30
Median Age
15%
College-Educated
81%
High-School Grad
12.0 sq mi
ZIP Area
2,985
Density / Sq Mi
$74,764
Median Household Income
$37,838
Median Earnings
$1,682
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- carniceria sahuayo — 12465 NW Grand Ave, El Mirage, AZ 85335
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Convenience store for sale in growing Phoenix trade area.
Where is this grocery and convenience store located?
The property is located at 11817 West Thunderbird Road El Mirage, AZ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High Visibility Location: Situated along Thunderbird Road, immediately off U.S. Highway 60, with a combined ±73,000 cars per day.; Growing Trade Area: Located in the Phoenix MSA with ±19,800 residents within a one‑mile radius.; Population Growth projected to increase approximately three percent in the surrounding area over the next five years.
