Fully Occupied Retail Investment
For Sale
Contact for pricing
14081 W Grand Ave, Surprise, AZ
Fully leased retail property with long-term tenants and income growth.
Property Size4,216 SF
Lot Size4.29 Acres
Price / SF$361.01
Days on Market362
Property Features for 14081 W Grand Ave
General Information
Standard status
Active
Size
4,216 SF
Lot size
4.29 Acres
Property subtype
RETAIL
Listing Agency:
Matthews Real Estate Investment Services | Phoenix
(605) 941-3721
Listed By:
Hudson DeJean · License #CO701910000(AZ)
(605) 941-3721
Source:
Moodyscre
Added: Aug 25, 2025
Changed: Jul 10
Last Checked: Aug 21 at 3:21PM
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 Matthews Real Estate Investment Services | Phoenix
Investment Insights
Based on property information with market context.
This multi-tenant retail property is a fully stabilized investment, currently 100% occupied. The property provides immediate in-place cash flow. Tenants operate under triple-net (NNN) leases, minimizing landlord responsibilities. Leases include 3% annual rental escalations. Vicky’s Nails has been at this location for over 14 years and has signed a new 10-year lease. Grand Pool and Patio has operated here since 2007. Freedom Cleaners has been in operation here since 2016, after relocating from another unit in the center. A LivAway Suites, a 123-room hotel, is under construction directly east of the property and is scheduled for completion in March 2026. A new Dunkin’ Donuts with a drive-thru is being developed next to the retail center. Plans are underway for a Big O Tires to be developed next to Dunkin’ further enhancing the retail mix. The property benefits from traffic along Grand Ave with 28,900 vehicles per day. The surrounding area has 96,933 residents within a 3-mile radius and 220,251 within a 5-mile radius. Population growth is 2.1% in a 1-mile radius and 1.8% in both the 3-5 mile ranges. The property is adjacent to national retailers, including a Goodwill in the 91st percentile, Trader Joe’s in the 77th percentile, and Sherwin-Williams in the 84th percentile for foot traffic nationwide. The property contains 4,216 square feet.
Key Highlights
- Fully Stabilized Investment: 100% occupied retail property with immediate in‑place cash flow.
- NNN Lease Structures: All tenants on triple‑net (NNN) leases, minimizing landlord responsibilities.
- Built‑In Income Growth: Leases include 3% annual rental escalations.
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
$56,707
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
3.73%
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%
$1,134,140
$1.1M
Cap Rate 7%
$810,100
$810.1K
Cap Rate 9%
$630,078
$630.1K
Market Conditions
NOI Build-Up for 4,216 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
$88.5K $21.00/SF
− Vacancy
−$7.5K −$1.79/SF
EGI
$81.0K $19.22/SF
− OpEx
−$24.3K −$5.76/SF
NOI
$56.7K $13.45/SF
Area
Surprise, AZ
Vacancy
8.50%
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%
$1,134,140
Cap Rate 7%
$810,100
Cap Rate 9%
$630,078
Alternative Uses
Best Use
Retail
$810.1K
$708.8K – $945.1K
NOI $56,707 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,011 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chase Bank
Shops & Services
4,936 visits/mo
0.3 miles
Wells Fargo
Shops & Services
3,503 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in West region
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 - Fully leased retail property with long-term tenants and income growth.
Where is this strip mall located?
The property is located at 14081 W Grand Ave Surprise, AZ.
What is the asking price?
The asking price for this property is $1,522,000.
What are key features of this property?
This property features: Fully Stabilized Investment: 100% occupied retail property with immediate in‑place cash flow.; NNN Lease Structures: All tenants on triple‑net (NNN) leases, minimizing landlord responsibilities.; Built‑In Income Growth: Leases include 3% annual rental escalations.
