Fully Occupied Shopping
For Sale
Contact for pricing
1427 E Bell Rd, Phoenix, AZ 85022
A fully occupied center combines entertainment, medical, and educational tenancy with NNN lease structures.
Property Size9,401 SF
Price / SF$255.19
Days on Market434
Property Features for 1427 E Bell Rd
General Information
Standard status
Active
Size
9,401 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Anchor Co-Tenants
Sunrise Preschool, Aldi
Building Details
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners | Phoenix
(602) 682-6052
Listed By:
Patrick Luther · License #CA 01732226
(949) 698-1115
Source:
Moodyscre
Added: Jun 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:30AM
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 SRS Real Estate Partners | Phoenix
Investment Insights
Based on property information with market context.
This 9,401-square-foot shopping center is fully occupied by a varied tenant base spanning entertainment, medical, and educational operations. Sunrise Preschool serves as an anchor, while Aldi provides shadow-anchor support. The tenant mix is designed around service and experiential uses rather than online retail categories.
Leases are NNN in nature, providing a consistent structure for property expenses and tenant obligations. The majority of leases are approaching expiration, creating a near-term leasing consideration for an investor evaluating the existing tenancy and future rent positioning. The property is located at 1427 E Bell Rd in Phoenix, Arizona.
Leases are NNN in nature, providing a consistent structure for property expenses and tenant obligations. The majority of leases are approaching expiration, creating a near-term leasing consideration for an investor evaluating the existing tenancy and future rent positioning. The property is located at 1427 E Bell Rd in Phoenix, Arizona.
Key Highlights
- 9,401‑square‑foot shopping center at 1427 E Bell Rd, Phoenix, AZ 85022
- 100% occupied with entertainment, medical, and educational tenants
- Anchored by Sunrise Preschool (NAP)
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
$106,252
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
4.43%
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%
$2,125,040
$2.1M
Cap Rate 7%
$1,517,886
$1.5M
Cap Rate 9%
$1,180,578
$1.2M
Market Conditions
NOI Build-Up for 9,401 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
$169.2K $18.00/SF
− Vacancy
−$17.4K −$1.85/SF
EGI
$151.8K $16.15/SF
− OpEx
−$45.5K −$4.84/SF
NOI
$106.3K $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%
$2,125,040
Cap Rate 7%
$1,517,886
Cap Rate 9%
$1,180,578
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.77M
NOI $106,252 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,335 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85022, AZ
51,314
Population
25,020
Households
2.1
Avg Household Size
39
Median Age
36%
College-Educated
91%
High-School Grad
9.4 sq mi
ZIP Area
5,459
Density / Sq Mi
$66,601
Median Household Income
$45,875
Median Earnings
$1,517
Median Rent
$385,900
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
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Similar Off Market Nearby
- Moon Valley Towne Center — 731 E Bell Rd Ste 111, Phoenix, AZ 85022
- Plaza 16 — 1601 E Bell Rd, Phoenix, AZ 85022
- Two Sticks On Bell — 950 E Bell Rd, Phoenix, AZ 85022
- Tierra Del Sol — 1610 E Bell Rd, Phoenix, AZ 85022
Frequently Asked Questions
What type of property is this?
Shopping center - A fully occupied center combines entertainment, medical, and educational tenancy with NNN lease structures.
Where is this shopping center located?
The property is located at 1427 E Bell Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 9,401‑square‑foot shopping center at 1427 E Bell Rd, Phoenix, AZ 85022; 100% occupied with entertainment, medical, and educational tenants; Anchored by Sunrise Preschool (NAP)
