Mixed-Use Retail/Office Building For
1437 N 1st St, Phoenix, AZ 85004
Two-story, 6,700 SF mixed-use building with income potential.
Type:Office
Property size:
6,700 SFPrice / SF:
$283/SF- Added:
- Nov 21, 2025
- Days on Market:
- 183
- Last Refresh:
- Dec 18 at 8:49 pm
Property Features for 1437 N 1st St
General Information
- Standard status
- Active
- Size
- 6,700 SF
- Property subtype
- Office
Building Details
- Year Built
- 1960
Listing agent Christie Reed License #3363141
Listing office Smith & Associates Real Estate (813) 997-3832
Listing date Nov 21, 2025
Source Svndesertcommercial
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 Smith & Associates Real Estate
HighLights
- Owner‑user opportunity to occupy vacant space and generate income.
- Existing income stream from current tenant, Giant Coffee.
- Upscale creative office/retail building in a dense development area.
- On‑site coffee shop & cafe (Giant Coffee).
- Gated private parking in the rear, with additional parking available for lease.
- Walking distance to Downtown Phoenix amenities and Light Rail, with immediate I‑10 Freeway access.
Overview
The property at 1437 N. 1st Street is a two-story mixed-use building with retail and creative office space, totaling approximately 6,700 square feet and situated on approximately 0.16 acres. A portion of the first floor is currently leased to Giant Coffee, with the remaining space consisting of private office and retail areas. The building presents an opportunity for an owner-user to occupy the vacant space. The previous owner occupied the 2nd floor and rented out the remaining vacant units on the 1st floor. The property features gated private parking in the rear, with additional parking available for lease from neighboring owners. The location offers convenient access to downtown Phoenix amenities and the light rail, as well as immediate access to the I-10 Freeway. The surrounding neighborhood is densely developed.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.27M
NOI $114,695 @ 9.00% cap · cautious / downside scenario
Moderate
$1.64M
NOI $114,695 @ 7.00% cap · market / base-case scenario
Aggressive
$2.29M
NOI $114,695 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $205.8k | $30.72 |
| − Vacancy | −$52.9k | −$7.90 |
| EGI | $152.9k | $22.82 |
| − OpEx | −$38.2k | −$5.71 |
| NOI | $114.7k | $17.12 |
6,700 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,695 @ 7.0% cap · market cap 6.04%
Second Best
Mixed Use
$1.22M
$1.07M – $1.42M
NOI $85,425 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,064 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
BFree Organics
Alternative Medicine Practice
Giant Coffee
Cafe & Coffee Shop
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.072
- Latitude
- 33.4654
Nearby Similar for Sale
FAQs
What type of property is this?
Creative space - Two-story, 6,700 SF mixed-use building with income potential.
Where is this creative space located?
The property is located at 1437 N 1st St Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Owner‑user opportunity to occupy vacant space and generate income.; Existing income stream from current tenant, Giant Coffee.; Upscale creative office/retail building in a dense development area.
