Freestanding Retail
For Sale
Contact for pricing
3838 N 19th Ave, Phoenix, AZ 85015
C-2-zoned property with 19th Avenue frontage, monument signage, and a new parking lot.
Property Size6,111 SF
Price / SF$245.46
Days on Market701
Property Features for 3838 N 19th Ave
General Information
Standard status
Active
Size
6,111 SF
Property subtype
RETAIL
Zoning
C-2
Additional Details
Highway Access
Yes
Amenities
Monument signage
New parking lot
Listing Agency:
Rein & Grossoehme
(480) 214-9400
Listed By:
Max Schumacher
(480) 214-9403
Source:
Moodyscre
Added: Oct 15, 2024
Changed: Sep 4
Last Checked: Sep 15 at 8:20AM
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 Rein & Grossoehme
Investment Insights
Based on property information with market context.
This freestanding retail building offers 6,111 square feet for sale or lease, with an owner-user configuration and the ability to be demised. The property includes 19th Avenue frontage, monument signage, and a new parking lot.
Located in Phoenix, the property provides access to both I-17 and I-10. It is zoned C-2 by the City of Phoenix, supporting its retail-oriented commercial positioning.
Located in Phoenix, the property provides access to both I-17 and I-10. It is zoned C-2 by the City of Phoenix, supporting its retail-oriented commercial positioning.
Key Highlights
- 6,111 SF freestanding building for sale or lease
- 19th Avenue frontage with monument signage
- New parking lot
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
$69,068
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
4.60%
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%
$1,381,360
$1.4M
Cap Rate 7%
$986,686
$986.7K
Cap Rate 9%
$767,422
$767.4K
Market Conditions
NOI Build-Up for 6,111 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
$110.0K $18.00/SF
− Vacancy
−$11.3K −$1.85/SF
EGI
$98.7K $16.15/SF
− OpEx
−$29.6K −$4.84/SF
NOI
$69.1K $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%
$1,381,360
Cap Rate 7%
$986,686
Cap Rate 9%
$767,422
Alternative Uses
Best Use
Retail
$986.7K
$863.4K – $1.15M
NOI $69,068 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,575 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
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 Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-2-zoned property with 19th Avenue frontage, monument signage, and a new parking lot.
Where is this storefront property located?
The property is located at 3838 N 19th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,111 SF freestanding building for sale or lease; 19th Avenue frontage with monument signage; New parking lot
