NNN-Leased Storefront
New
For Sale
Contact for pricing
12101 W Thunderbird Rd, El Mirage, AZ 85335
Brick construction, a corporate Family Dollar guaranty, and renewal options with scheduled rent increases support the existing lease structure.
Property Size8,271 SF
Price / SF$276.75
Days on Market3
Property Features for 12101 W Thunderbird Rd
General Information
Standard status
Active
Size
8,271 SF
Property subtype
RETAIL
Site & Location
Traffic Count
83,000 vehicles/day
Highway Access
Yes
Building Details
Construction
brick
Tenancy
Single
Listing Agency:
Marcus & Millichap | Phoenix
(602) 687-6700
Listed By:
Mark Ruble · License #(S):AZ:SA550593000,NV:S.0192964
(602) 770-2935
Source:
Moodyscre
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 3:16PM
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.
This 8,271-square-foot storefront property features brick construction and is subject to an absolute NNN lease with a corporate Family Dollar guaranty. The agreement includes multiple renewal options, with rent increases scheduled every three years.
The property is located at 12101 W Thunderbird Rd in El Mirage, within the Phoenix MSA and a densely populated trade area containing 245,799 residents within 5 miles. Its position along Thunderbird Road, immediately off U.S. Highway 60, provides exposure to nearly 83,000 cars per day. U.S. Highway 60 also connects the site with Loop 101 and Loop 303, two major regional highways in the area. Placer.ai recorded more than 152,000 annual visits in 2025.
The property is located at 12101 W Thunderbird Rd in El Mirage, within the Phoenix MSA and a densely populated trade area containing 245,799 residents within 5 miles. Its position along Thunderbird Road, immediately off U.S. Highway 60, provides exposure to nearly 83,000 cars per day. U.S. Highway 60 also connects the site with Loop 101 and Loop 303, two major regional highways in the area. Placer.ai recorded more than 152,000 annual visits in 2025.
Key Highlights
- 8,271‑square‑foot storefront property at 12101 W Thunderbird Rd, El Mirage, AZ 85335
- Absolute NNN lease with a corporate Family Dollar guaranty
- Multiple renewal options with rent increases every three 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
$104,284
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
4.56%
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%
$2,085,680
$2.1M
Cap Rate 7%
$1,489,771
$1.5M
Cap Rate 9%
$1,158,711
$1.2M
Market Conditions
NOI Build-Up for 8,271 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
$156.8K $18.96/SF
− Vacancy
−$7.8K −$0.95/SF
EGI
$149.0K $18.01/SF
− OpEx
−$44.7K −$5.40/SF
NOI
$104.3K $12.61/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,085,680
Cap Rate 7%
$1,489,771
Cap Rate 9%
$1,158,711
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.74M
NOI $104,284 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $179,091 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
83,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
405
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
0.1 miles
Freeway Insurance Services
Shops & Services
2,218 visits/mo
0.1 miles
La Bamba
Dining
1,017 visits/mo
0.1 miles
Boost Mobile
Electronics
833 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick construction, a corporate Family Dollar guaranty, and renewal options with scheduled rent increases support the existing lease structure.
Where is this storefront property located?
The property is located at 12101 W Thunderbird Rd El Mirage, AZ.
What is the asking price?
The asking price for this property is $2,289,000.
What are key features of this property?
This property features: 8,271‑square‑foot storefront property at 12101 W Thunderbird Rd, El Mirage, AZ 85335; Absolute NNN lease with a corporate Family Dollar guaranty; Multiple renewal options with rent increases every three years
