Storefront Property with
For Sale
Contact for pricing
8495 Grand Ave, Peoria, AZ 85345
Former drive-thru storefront with Grand Avenue frontage in the center of Peoria.
Property Size2,905 SF
Price / SF$447.50
Days on Market654
Property Features for 8495 Grand Ave
General Information
Standard status
Active
Size
2,905 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Trevor White
(314) 803-0307
Source:
Moodyscre
Added: Nov 30, 2024
Changed: Sep 11
Last Checked: Sep 15 at 5:38AM
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 storefront property is a strong fit for either an owner-user or an investor seeking a combined investment and owner-user sale opportunity. The space was most recently configured as a former drive-thru, supporting a customer-service layout for drive-through-style operations.
The property sits on Grand Avenue with frontage along the corridor, and it is located in the center of Peoria. The building measures 2,905 square feet, offering a defined footprint for retail or service uses that benefit from drive-through access.
With its drive-thru-ready configuration and Grand Avenue frontage, the property provides a practical option for businesses looking to serve passing traffic while benefiting from a storefront location.
The property sits on Grand Avenue with frontage along the corridor, and it is located in the center of Peoria. The building measures 2,905 square feet, offering a defined footprint for retail or service uses that benefit from drive-through access.
With its drive-thru-ready configuration and Grand Avenue frontage, the property provides a practical option for businesses looking to serve passing traffic while benefiting from a storefront location.
Key Highlights
- 2,905 SF storefront property
- Former drive‑thru configuration
- Grand Avenue frontage
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
$40,355
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
3.10%
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%
$807,100
$807.1K
Cap Rate 7%
$576,500
$576.5K
Cap Rate 9%
$448,389
$448.4K
Market Conditions
NOI Build-Up for 2,905 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
$61.0K $21.00/SF
− Vacancy
−$3.4K −$1.16/SF
EGI
$57.6K $19.85/SF
− OpEx
−$17.3K −$5.95/SF
NOI
$40.4K $13.89/SF
Area
Peoria, AZ
Vacancy
5.50%
Lease Rate
$21.00 /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%
$807,100
Cap Rate 7%
$576,500
Cap Rate 9%
$448,389
Alternative Uses
Best Use
Retail
$576.5K
$504.4K – $672.6K
NOI $40,355 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$715.2K
$625.8K – $834.4K
NOI $50,066 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
53k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Apparel 26%
Shops & Services 22%
Hotels & Casinos 3%
SONIC Drive In
Dining
14,737 visits/mo
0.5 miles
Goodwill
Apparel
13,787 visits/mo
0.1 miles
Denny's
Dining
11,216 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
4,715 visits/mo
0.5 miles
AutoZone
Shops & Services
4,034 visits/mo
0.1 miles
Demographics for 85345, AZ
61,024
Population
24,273
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
4,805
Density / Sq Mi
$64,563
Median Household Income
$40,280
Median Earnings
$1,563
Median Rent
$278,300
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Former drive-thru storefront with Grand Avenue frontage in the center of Peoria.
Where is this storefront property located?
The property is located at 8495 Grand Ave Peoria, AZ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2,905 SF storefront property; Former drive‑thru configuration; Grand Avenue frontage
