Freestanding Restaurant
For Sale
Contact for pricing
1216 E NORTHERN Avenue, Phoenix, AZ 85020
Existing restaurant improvements can support food and beverage operations with reduced construction requirements.
Property Size3,456 SF
Price / SF$2.00
Days on Market66
Property Features for 1216 E NORTHERN Avenue
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Comm/industry Lease
Site & Location
Neighborhood
North Mountain
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
R.O.I. Properties
(602) 615-1908
Listed By:
Reuben Z Nach · License #SA687040000
(602) 881-4724
Source:
Kelliesellsaz
Added: Aug 24
Changed: Oct 25
Last Checked: Oct 28 at 8:46AM
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 R.O.I. Properties
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Investment Insights
Based on property information with market context.
This freestanding restaurant property includes an existing food-service buildout, offering an established physical framework for restaurant operations. The building dates to 1945 and is positioned for a user seeking to limit initial construction work and opening delays.
The property occupies a signalized intersection at Northern Avenue and 12th Street in Phoenix’s North Central / Sunnyslope submarket. Northern Avenue provides frontage along a major east-west corridor, while proximity to State Route 51 connects the site with broader Phoenix-area destinations.
The property occupies a signalized intersection at Northern Avenue and 12th Street in Phoenix’s North Central / Sunnyslope submarket. Northern Avenue provides frontage along a major east-west corridor, while proximity to State Route 51 connects the site with broader Phoenix-area destinations.
Key Highlights
- Existing restaurant buildout supports food and beverage use
- Signalized intersection at Northern Avenue and 12th Street
- Frontage along Northern Avenue, a major east‑west corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,508
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,030,160
$1.0M
Cap Rate 7%
$735,829
$735.8K
Cap Rate 9%
$572,311
$572.3K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$74.6K $21.60/SF
− Vacancy
−$6.0K −$1.73/SF
EGI
$68.7K $19.87/SF
− OpEx
−$17.2K −$4.97/SF
NOI
$51.5K $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 Rate 5%
$1,030,160
Cap Rate 7%
$735,829
Cap Rate 9%
$572,311
Alternative Uses
Best Use
Specialty Retail
$735.8K
$643.9K – $858.5K
NOI $51,508 @ 7.0% cap · market cap 746.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$916.0K – $1.22M
NOI $73,280 @ 7.0% cap · market cap 1,062.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant improvements can support food and beverage operations with reduced construction requirements.
Where is this conventional restaurant located?
The property is located at 1216 E NORTHERN Avenue Phoenix, AZ.
What are key features of this property?
This property features: Existing restaurant buildout supports food and beverage use; Signalized intersection at Northern Avenue and 12th Street; Frontage along Northern Avenue, a major east‑west corridor
