Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1616 E Thomas Rd Phoenix, AZ 85015

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,906,000

    Retail property with corporate-backed lease and renewal options.

    Property size:
    13,846 SF
    Lot size:
    1.85 Acres

    Property Features for 1616 E Thomas Rd

    General Information

    Size
    13,846 SF
    Lot size
    1.85 Acres

    Source: SRS Real Estate Partners | Phoenix Agent Ed Beeh

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Phoenix Retail Property For Sale

    This retail property has 13 years remaining on the lease term, with twelve 5-year renewal options available. The lease includes 5% rent increases every 5 years during the base term and option periods. The lease is corporate-backed by Walgreens Co. The property has a size of 13846 square feet and is located in Phoenix, AZ.
    Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Pharmacy Pharmacy Walgreens Cosmetics Store Dr. Robert Devine Family Practice Physician FedEx OnSite Mailing Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Phoenix Pharmacy, Walgreens Pharmacy, Phoenix Children's Hospital, COVID-19 Drive-Thru Testing at Walgreens, Eugene Myers

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0468756
    Latitude
    33.4806103

    Nearby Similar for Sale

    • $11,600,000

      Arcadia Area Condos For Sale

      Eight high-end condos in Phoenix's Arcadia area, each with private elevator.
      4525 N 40Th St, Phoenix, AZ 85018
      View Details
    • New
      $534,400

      Renovated Multi-Family Property in Phoenix

      Three units, renovated in 2024, located in Roosevelt Arts District.
      325 N 17Th Dr, Phoenix, AZ 85007
      View Details
    • New
      $649,900

      Updated Triplex in Phoenix Location

      Updated triplex with strong rental versatility near Phoenix attractions.
      4832 E Willetta St, Phoenix, AZ 85008
      View Details
    • $615,000
      Pending

      New Construction Duplex in Phoenix

      Modern duplex in downtown Phoenix with no HOA fees.
      1120 S 4Th Ave, Phoenix, AZ 85003
      View Details
    • $499,999

      Phoenix Multi-Unit Investment Opportunity

      Two adjacent properties with three units in central Phoenix.
      1813 W Sherman St, Phoenix, AZ 85007
      View Details
    • New
      $649,900

      Updated Triplex in Phoenix Location

      Fully updated triplex in a prime Phoenix location.
      4838 E Willetta St, Phoenix, AZ 85008
      View Details

    FAQs

    What type of property is this?
    Drug store - Retail property with corporate-backed lease and renewal options.
    Where is this drug store located?
    The property is located at 1616 E Thomas Rd Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $4,906,000.
    What are key features of this property?
    This property features: - Corporate-backed lease with Walgreens Co.; - Long-term lease with 13 years remaining, providing stable income.; - Benefit from twelve (12) 5-year renewal options.
    (602) 980-3553
    Request Owner's contact information
    1616 E Thomas Rd Phoenix, AZ 85015
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1616 E Thomas Rd
    Phoenix, AZ 85015
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1616 E Thomas Rd Phoenix, AZ 85015
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.