Mixed-Use
For Sale
Contact for pricing
1800 West Van Buren Street, Phoenix, AZ 85007
Four-building property combines multifamily residences with fully leased retail suites under absolute NNN agreements.
Property Size12,995 SF
Price / SF$392.46
Days on Market126
Property Features for 1800 West Van Buren Street
General Information
Standard status
Active
Size
12,995 SF
Property subtype
Mixed Use
Zoning
C-3 & R-5 Overlay (1800 W Van Buren & 310-312 N 18th Ave), C-3 (1746 W Van Buren & 311 N 18th Ave)
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$444,377
Additional Details
Cap Rate
8.71%
Multifamily Units
8
Building Details
Year Built
1955
Buildings
5
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Alex DeSoto · License #02087057
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 9:59PM
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
Investment Insights
Based on property information with market context.
This mixed-use portfolio comprises four buildings on three separate parcels, combining multifamily residences with retail space. The multifamily component includes eight units across two buildings, with six units leased on traditional one-year terms and two operated as short-term rentals. The retail component contains 10 suites and is fully occupied under five-year absolute NNN leases that include 4% annual rent escalations.
The property totals 12,995 square feet and was built in 1955. Zoning varies across the portfolio, with C-3 and R-5 Overlay applying at 1800 W Van Buren and 310-312 N 18th Ave, and C-3 applying at 1746 W Van Buren and 311 N 18th Ave. The assets are located near Downtown Phoenix, with a blended cap rate of 8.71%.
The property totals 12,995 square feet and was built in 1955. Zoning varies across the portfolio, with C-3 and R-5 Overlay applying at 1800 W Van Buren and 310-312 N 18th Ave, and C-3 applying at 1746 W Van Buren and 311 N 18th Ave. The assets are located near Downtown Phoenix, with a blended cap rate of 8.71%.
Key Highlights
- 12,995‑square‑foot mixed‑use portfolio across four buildings and three separate parcels
- Eight multifamily units in two buildings, including six traditional leases and two short‑term rentals
- 10 retail suites with 100% occupancy
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
$165,686
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
3.25%
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%
$3,313,720
$3.3M
Cap Rate 7%
$2,366,943
$2.4M
Cap Rate 9%
$1,840,956
$1.8M
Market Conditions
NOI Build-Up for 12,995 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
$311.9K $24.00/SF
− Vacancy
−$46.8K −$3.60/SF
EGI
$265.1K $20.40/SF
− OpEx
−$99.4K −$7.65/SF
NOI
$165.7K $12.75/SF
Area
Phoenix, AZ
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,313,720
Cap Rate 7%
$2,366,943
Cap Rate 9%
$1,840,956
Alternative Uses
Best Use
Mixed Use
$2.37M
$2.07M – $2.76M
NOI $165,686 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$2.17M
$1.89M – $2.53M
NOI $151,567 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$3.94M
$3.44M – $4.59M
NOI $275,541 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,209
Businesses Nearby
Explore this area
Business Placement
Demographics for 85007, AZ
14,442
Population
5,981
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
3,140
Density / Sq Mi
$55,833
Median Household Income
$43,375
Median Earnings
$1,079
Median Rent
$447,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-building property combines multifamily residences with fully leased retail suites under absolute NNN agreements.
Where is this mixed-use property located?
The property is located at 1800 West Van Buren Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 12,995‑square‑foot mixed‑use portfolio across four buildings and three separate parcels; Eight multifamily units in two buildings, including six traditional leases and two short‑term rentals; 10 retail suites with 100% occupancy
