Turnkey Restaurant
For Sale
Contact for pricing
1381 N Alma School Rd, Chandler, AZ
Multi-suite property with established and vacant restaurant spaces.
Property Size8,610 SF
Lot Size0.29 Acres
Price / SF$278.75
Days on Market468
Property Features for 1381 N Alma School Rd
General Information
Standard status
Active
Size
8,610 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
Kidder Mathews | Phoenix
(602) 513-5200
Listed By:
Tim Hurley · License #SA665984000
(760) 861-1100
Source:
Moodyscre
Added: Jun 2, 2025
Changed: Sep 4
Last Checked: Sep 12 at 7:05AM
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 Kidder Mathews | Phoenix
Investment Insights
Based on property information with market context.
This multi-suite property presents a turnkey restaurant opportunity. The property includes a space currently occupied by Saigon Pho & Seafood, with the business value included in the sale. An adjacent restaurant space is currently vacant. The property's total size is 8610 square feet.
Key Highlights
- Turnkey restaurant opportunity
- Includes operating Saigon Pho & Seafood business
- Multi‑suite property
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
$115,925
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
4.83%
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%
$2,318,500
$2.3M
Cap Rate 7%
$1,656,071
$1.7M
Cap Rate 9%
$1,288,056
$1.3M
Market Conditions
NOI Build-Up for 8,610 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
$165.3K $19.20/SF
− Vacancy
−$10.7K −$1.25/SF
EGI
$154.6K $17.95/SF
− OpEx
−$38.6K −$4.49/SF
NOI
$115.9K $13.46/SF
Area
Chandler, AZ
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,318,500
Cap Rate 7%
$1,656,071
Cap Rate 9%
$1,288,056
Alternative Uses
Best Use
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,925 @ 7.0% cap · market cap 4.83%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,675 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,751 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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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Similar Off Market Nearby
- elite — 1739 W Gary Dr, Chandler, AZ 85224
- Big Jake's Dogs & Catering — Ray Rd &, N Alma School Rd, Chandler, AZ 85225
- AZ FoodTrucking — 1287 N Alma School Rd, Chandler, AZ 85224
Frequently Asked Questions
What type of property is this?
Restaurant - Multi-suite property with established and vacant restaurant spaces.
Where is this restaurant located?
The property is located at 1381 N Alma School Rd Chandler, AZ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity; Includes operating Saigon Pho & Seafood business; Multi‑suite property
