Turnkey Bakery with Extensive
For Sale
Contact for pricing
1915 N 16th St, Phoenix, AZ
Bakery with ovens, freezer, refrigerator, and immediate highway access.
Property Size4,340 SF
Lot Size0.14 Acres
Price / SF$229.26
Days on Market702
Property Features for 1915 N 16th St
General Information
Standard status
Active
Size
4,340 SF
Lot size
0.14 Acres
Property subtype
OFFICE
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Joe Cosgrove · License #SA649531000
(480) 628-4753
Source:
Moodyscre
Added: Oct 9, 2024
Changed: Aug 15
Last Checked: Sep 10 at 11:52AM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This 4,340 square foot property is a turnkey bakery ready for immediate occupancy. It is equipped with ovens, a walk-in freezer, and a refrigerator. The property includes storage racks and a roll-up door, making it suitable for distribution purposes. Extensive bakery FF&E is included in the sale. The location provides immediate access to I-10 and SR-51.
Key Highlights
- Turnkey Bakery: Ready for immediate occupancy
- Extensive Bakery FF&E Included: Significant value with included fixtures, furniture, and equipment
- Convenient Location: Immediate access to I‑10 & SR‑51 highways
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
$64,683
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
6.50%
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%
$1,293,660
$1.3M
Cap Rate 7%
$924,043
$924.0K
Cap Rate 9%
$718,700
$718.7K
Market Conditions
NOI Build-Up for 4,340 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
$93.7K $21.60/SF
− Vacancy
−$7.5K −$1.73/SF
EGI
$86.2K $19.87/SF
− OpEx
−$21.6K −$4.97/SF
NOI
$64.7K $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 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%
$1,293,660
Cap Rate 7%
$924,043
Cap Rate 9%
$718,700
Alternative Uses
Best Use
Specialty Retail
$924.0K
$808.5K – $1.08M
NOI $64,683 @ 7.0% cap · market cap 6.50%
Second Best
Retail
$700.7K
$613.2K – $817.5K
NOI $49,052 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $92,024 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,947
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Bakery with ovens, freezer, refrigerator, and immediate highway access.
Where is this commercial kitchen located?
The property is located at 1915 N 16th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Turnkey Bakery: Ready for immediate occupancy; Extensive Bakery FF&E Included: Significant value with included fixtures, furniture, and equipment; Convenient Location: Immediate access to I‑10 & SR‑51 highways
