Freestanding Retail Property on Corner
For Sale
Contact for pricing
15026 N Cave Creek Rd, Phoenix, AZ 85032
Highly visible retail property near retail, entertainment, and hospitality amenities.
Property Size5,976 SF
Price / SF$183.23
Days on Market203
Property Features for 15026 N Cave Creek Rd
General Information
Standard status
Active
Size
5,976 SF
Total Parking Spaces
16
Property subtype
Retail
Zoning
C2 - Intermediate Commercial
Investment Type
Owner/User
Building Details
Year Built
1989
Buildings
1
Stories
1
Listing Agency:
KW Commercial Scottsdale SW
Listed By:
Paul Andrews · License #AZ SA628163000
Source:
Crexi
Added: Jan 30
Changed: Aug 8
Last Checked: Aug 21 at 8:32AM
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 KW Commercial Scottsdale SW
Investment Insights
Based on property information with market context.
This freestanding retail property is situated on a highly visible corner lot within the Blue Ribbon Center, located at the northwest corner of North Cave Creek and East Nisbet Roads. The property benefits from its proximity to numerous retail, entertainment, hospitality, and lifestyle amenities. It offers direct and fast access to the AZ-51 (Piestewa Freeway) and Loop 101, providing seamless connectivity to surrounding employment centers and the greater Phoenix metro area. The intersection boasts a traffic count of 31,785 vehicles per day. The surrounding area is a high-density, affluent retail and entertainment hub anchored by premier shopping centers, offering local employees and residents immediate access to top-tier dining, curated boutiques, diverse entertainment venues, medical hospitality, and proximity to major Scottsdale and Phoenix recreation hubs. High-traffic retail centers, including Desert Ridge Marketplace and Paradise Valley Mall, are located within minutes, featuring major anchors such as Starbucks, Target, Whole Foods Market, Sprouts, and REI, alongside many popular boutique shops. The area features a vibrant culinary scene with extensive casual and fine dining options, particularly concentrated around the Cave Creek Road / 101 corridor as well as nearby Kierland / Scottsdale Quarter. Entertainment venues include major cinema complexes and family-oriented attractions like the Musical Instrument Museum. Proximity to expansive outdoor recreation, including the adjacent North Mountain Park, Lookout Mountain, and the Phoenix Mountain Preserves, as well as many local golf courses, provides an active lifestyle component. Several hotels and resorts are located minutes away, including the JW Marriott at Desert Ridge, Marriott Canyon Villas, Hilton Tapatio Cliffs, Embassy Suites, and Westin Kierland. Paradise Valley Community College is also located just a few miles to the northeast. The area benefits from a strong, diversified local healthcare network featuring major hospital systems and high-quality medical care facilities, including the Abrazo Scottsdale Campus, HonorHealth - John C Lincoln and Deer Valley Medical Campuses, as well as the internationally renowned Mayo Clinic of Arizona, which is just 7 miles away. The property size is 5,976 square feet and is intended for owner-user occupancy.
Key Highlights
- Rare freestanding retail property on a highly visible corner lot.
- Optimally located near retail, entertainment, hospitality, and lifestyle amenities.
- Direct, fast access to AZ‑51 and Loop 101 freeways.
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
$63,940
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
5.84%
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%
$1,278,800
$1.3M
Cap Rate 7%
$913,429
$913.4K
Cap Rate 9%
$710,444
$710.4K
Market Conditions
NOI Build-Up for 5,976 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
$101.8K $17.04/SF
− Vacancy
−$10.5K −$1.76/SF
EGI
$91.3K $15.28/SF
− OpEx
−$27.4K −$4.59/SF
NOI
$63.9K $10.70/SF
Area
ZIP 85032
Vacancy
10.30%
Lease Rate
$17.04 /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%
$1,278,800
Cap Rate 7%
$913,429
Cap Rate 9%
$710,444
Alternative Uses
Best Use
Retail
$913.4K
$799.3K – $1.07M
NOI $63,940 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,448 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85032, AZ
68,710
Population
30,386
Households
2.3
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
5,541
Density / Sq Mi
$74,331
Median Household Income
$44,790
Median Earnings
$1,492
Median Rent
$387,900
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
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Similar Off Market Nearby
- Exotic Plants — Phoenix, AZ 85032
- Florist — Greenway Estates, Phoenix, AZ 85032
- Katty’s Flowers & Gifts — 15215 cave creek rd, phoenix, az 85032
Frequently Asked Questions
What type of property is this?
Storefront property - Highly visible retail property near retail, entertainment, and hospitality amenities.
Where is this storefront property located?
The property is located at 15026 N Cave Creek Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Rare freestanding retail property on a highly visible corner lot.; Optimally located near retail, entertainment, hospitality, and lifestyle amenities.; Direct, fast access to AZ‑51 and Loop 101 freeways.
