Retail Strip Mall with Covered
For Sale
Contact for pricing
1708-1716 E McDowell Rd, Phoenix, AZ 85006
Retail strip mall with McDowell Rd frontage and city lot parking, including covered parking behind the building.
Property Size6,126 SF
Price / SF$299.27
Days on Market1137
Property Features for 1708-1716 E McDowell Rd
General Information
Standard status
Active
Size
6,126 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Matt Leonard · License #BR544219000
(602) 369-7127
Source:
Moodyscre
Added: Aug 4, 2023
Changed: Sep 10
Last Checked: Sep 12 at 11:46AM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail strip mall at 1708-1716 E McDowell Rd offers a total property size of 6,126 SF. Access is described as easy to state route 51, with McDowell Rd frontage for visibility. Parking is available via a city lot, plus covered parking behind the building.
The property is positioned in a central area close to many amenities. Public remarks also note a new multi family development directly across the street.
Lease expense responsibilities are structured so tenants are responsible for all expenses except exterior walls and the roof. That framework can be useful for evaluating operational cost ownership and budgeting during tenancy.
The property is positioned in a central area close to many amenities. Public remarks also note a new multi family development directly across the street.
Lease expense responsibilities are structured so tenants are responsible for all expenses except exterior walls and the roof. That framework can be useful for evaluating operational cost ownership and budgeting during tenancy.
Key Highlights
- 6,126 SF retail strip mall
- McDowell Rd frontage
- Easy access to state route 51
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
$69,237
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
3.78%
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%
$1,384,740
$1.4M
Cap Rate 7%
$989,100
$989.1K
Cap Rate 9%
$769,300
$769.3K
Market Conditions
NOI Build-Up for 6,126 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
$110.3K $18.00/SF
− Vacancy
−$11.4K −$1.85/SF
EGI
$98.9K $16.15/SF
− OpEx
−$29.7K −$4.84/SF
NOI
$69.2K $11.30/SF
Area
Phoenix, AZ
Vacancy
10.30%
Lease Rate
$18.00 /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%
$1,384,740
Cap Rate 7%
$989,100
Cap Rate 9%
$769,300
Alternative Uses
Best Use
Retail
$989.1K
$865.5K – $1.15M
NOI $69,237 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.62M – $2.16M
NOI $129,893 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
921
Businesses Nearby
Explore this area
Business Placement
Demographics for 85006, AZ
23,797
Population
10,607
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
5,949
Density / Sq Mi
$60,742
Median Household Income
$39,899
Median Earnings
$1,168
Median Rent
$376,600
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip mall with McDowell Rd frontage and city lot parking, including covered parking behind the building.
Where is this strip mall located?
The property is located at 1708-1716 E McDowell Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,833,333.
What are key features of this property?
This property features: 6,126 SF retail strip mall; McDowell Rd frontage; Easy access to state route 51
