Mixed-Use Live-Work
For Sale
$950,000
141-610 E Roosevelt St, Phoenix, AZ 85004
Street-level salon space pairs with a separate upstairs apartment in Downtown Phoenix’s Roosevelt Row Arts District.
Property Size1,750 SF
Price / SF$542.86
Days on Market99
Property Features for 141-610 E Roosevelt St
General Information
Standard status
Active
Size
1,750 SF
Taxes and HOA fees
Annual Taxes
$2,762
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Arizona Properties
(203) 733-5877
Listed By:
Michael Zschunke
(203) 733-5877
Source:
Exprealty
Added: May 11
Changed: Aug 16
Last Checked: Aug 16 at 3:49AM
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 Berkshire Hathaway HomeServices Arizona Properties
Investment Insights
Based on property information with market context.
Located at 141-610 E Roosevelt St, the property combines a street-level commercial area with a separate apartment above. The commercial space is currently operating as a hair salon, while the upper residence provides a distinct live-work component. Identified commercial use possibilities include retail, office, gallery, studio, and café operations, supporting a range of creative and service-oriented concepts.
The property sits in Downtown Phoenix’s Roosevelt Row Arts District, with restaurants, galleries, nightlife, light rail, and downtown employment hubs nearby. Its configuration is positioned for owner occupancy or rental income, with commercial and residential functions arranged within one property.
The property sits in Downtown Phoenix’s Roosevelt Row Arts District, with restaurants, galleries, nightlife, light rail, and downtown employment hubs nearby. Its configuration is positioned for owner occupancy or rental income, with commercial and residential functions arranged within one property.
Key Highlights
- Street‑level commercial space currently operating as a hair salon
- Separate upstairs apartment creates a two‑level mixed‑use configuration
- Identified commercial uses include retail, office, gallery, studio, and café operations
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
$29,958
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
3.15%
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%
$599,160
$599.2K
Cap Rate 7%
$427,971
$428.0K
Cap Rate 9%
$332,867
$332.9K
Market Conditions
NOI Build-Up for 1,750 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
$53.8K $30.72/SF
− Vacancy
−$13.8K −$7.90/SF
EGI
$39.9K $22.82/SF
− OpEx
−$10.0K −$5.71/SF
NOI
$30.0K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /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%
$599,160
Cap Rate 7%
$427,971
Cap Rate 9%
$332,867
Alternative Uses
Best Use
Office B
$428.0K
$374.5K – $499.3K
NOI $29,958 @ 7.0% cap · market cap 3.15%
Second Best
Mixed Use
$318.8K
$278.9K – $371.9K
NOI $22,313 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$530.1K
$463.8K – $618.4K
NOI $37,106 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level salon space pairs with a separate upstairs apartment in Downtown Phoenix’s Roosevelt Row Arts District.
Where is this mixed-use property located?
The property is located at 141-610 E Roosevelt St Phoenix, AZ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Street‑level commercial space currently operating as a hair salon; Separate upstairs apartment creates a two‑level mixed‑use configuration; Identified commercial uses include retail, office, gallery, studio, and café operations
