Commercial Retail Building with
For Sale
$895,000
1407-09-11 W INDIAN SCHOOL Road, Phoenix, AZ 85013
Three connected retail suites with separate electric meters and newer A/C units, plus rear paved parking.
Property Size3,250 SF
Price / SF$279.69
Days on Market400
Property Features for 1407-09-11 W INDIAN SCHOOL Road
General Information
Standard status
Active
Size
3,250 SF
Property subtype
COMMERCIAL
Zoning
C-1
Additional Details
Business Included
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$3,757
Building Details
Building Size
3,250 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Thomas Ross · License #SA642903000
(602) 368-1904
Source:
Jcluxuryresidential
Added: Aug 4, 2025
Changed: Sep 6
Last Checked: Sep 7 at 6:45AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This C-1 commercial retail building includes three suites: 1407, 1409, and 1411. Suite 1411 is the smaller space at approximately 1,200 square feet and currently houses a 40-year owner business. The owner could remain or relocate. The remaining two connected areas total approximately 2,000 square feet and may be used together as one larger space or separately as individual suites.
Electric is separately metered, and front signage on Indian School Road is grandfathered. The property has newer A/C units, paved parking at the rear entry, and a bus stop in front. It is also about 10 blocks to Interstate 17.
The building’s configuration supports flexible occupancy across connected suites while maintaining separate utility metering for each unit.
Electric is separately metered, and front signage on Indian School Road is grandfathered. The property has newer A/C units, paved parking at the rear entry, and a bus stop in front. It is also about 10 blocks to Interstate 17.
The building’s configuration supports flexible occupancy across connected suites while maintaining separate utility metering for each unit.
Key Highlights
- C‑1 commercial building built in 1950 with three connected retail suites: 1407, 1409, and 1411
- 1411 suite includes 1,200 SF and is currently occupied by the owner business (owner could stay or move on)
- Additional connected space totals about 2,000 SF and can be used as one large area or separated into individual spaces
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
$36,167
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
4.04%
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%
$723,340
$723.3K
Cap Rate 7%
$516,671
$516.7K
Cap Rate 9%
$401,856
$401.9K
Market Conditions
NOI Build-Up for 3,200 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
$57.6K $18.00/SF
− Vacancy
−$5.9K −$1.85/SF
EGI
$51.7K $16.15/SF
− OpEx
−$15.5K −$4.84/SF
NOI
$36.2K $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%
$723,340
Cap Rate 7%
$516,671
Cap Rate 9%
$401,856
Alternative Uses
Best Use
Retail
$516.7K
$452.1K – $602.8K
NOI $36,167 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$969.3K
$848.2K – $1.13M
NOI $67,852 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,553
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
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 - Three connected retail suites with separate electric meters and newer A/C units, plus rear paved parking.
Where is this storefront property located?
The property is located at 1407-09-11 W INDIAN SCHOOL Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: C‑1 commercial building built in 1950 with three connected retail suites: 1407, 1409, and 1411; 1411 suite includes 1,200 SF and is currently occupied by the owner business (owner could stay or move on); Additional connected space totals about 2,000 SF and can be used as one large area or separated into individual spaces
