Retail Location with
For Sale
Contact for pricing
5065 E Elliot Rd, Phoenix, AZ
Corner retail location with street frontage and ample parking.
Property Size4,615 SF
Lot Size0.79 Acres
Price / SF$388.95
Days on Market760
Property Features for 5065 E Elliot Rd
General Information
Standard status
Active
Size
4,615 SF
Lot size
0.79 Acres
Property subtype
RETAIL
Lease Type
Modified Gross
Properties For Sale
at 5065 E Elliot Rd Contact us- Floor
- Bldg
- Size
- 4,615 SF
- Type
- RETAIL
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
5065 E Elliot Rd
Previous bank location with drive-through
available for sale or for lease
• Corner...
show more
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Listing Agency:
NAI Horizon - Phoenix
(602) 955-4000
Listed By:
Mark Wilcke · License #BR007676000
(602) 339-5660
Source:
Moodyscre
Added: Aug 15, 2024
Changed: Sep 7
Last Checked: Sep 13 at 10:54AM
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 NAI Horizon - Phoenix
Investment Insights
Based on property information with market context.
This retail property, formerly a bank, features a drive-through and is available for sale or lease. Situated on a corner with street frontage, the location offers excellent access and visibility. It is located at the southwest corner of 51st Street and Elliot Road, right off the I-10 Freeway. The property benefits from ample parking and commercial zoning and is located in a county island. The property size is 4,615 square feet.
Key Highlights
- Excellent access and visibility due to corner location and street frontage.
- Right off the I‑10 Freeway, providing convenient transportation access.
- Drive‑through, suitable for various business types.
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
$68,782
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
3.83%
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%
$1,375,640
$1.4M
Cap Rate 7%
$982,600
$982.6K
Cap Rate 9%
$764,244
$764.2K
Market Conditions
NOI Build-Up for 4,615 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
$99.7K $21.60/SF
− Vacancy
−$8.0K −$1.73/SF
EGI
$91.7K $19.87/SF
− OpEx
−$22.9K −$4.97/SF
NOI
$68.8K $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 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%
$1,375,640
Cap Rate 7%
$982,600
Cap Rate 9%
$764,244
Alternative Uses
Best Use
Specialty Retail
$982.6K
$859.8K – $1.15M
NOI $68,782 @ 7.0% cap · market cap 3.83%
Second Best
Retail
$745.1K
$652.0K – $869.3K
NOI $52,160 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,855 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
AutoNation Toyota Tempe
Shops & Services
10,374 visits/mo
0.4 miles
Wendy's
Dining
9,217 visits/mo
0.5 miles
Midas
Shops & Services
639 visits/mo
0.5 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Corner retail location with street frontage and ample parking.
Where is this bank located?
The property is located at 5065 E Elliot Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Excellent access and visibility due to corner location and street frontage.; Right off the I‑10 Freeway, providing convenient transportation access.; Drive‑through, suitable for various business types.
