Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    18460 N 7Th St Phoenix, AZ 85022

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $7,269,000

    NNN leased CVS Pharmacy with drive-thru in Phoenix, Arizona.

    Property size:
    13,055 SF
    Lot size:
    1.40 Acres

    Property Features for 18460 N 7Th St

    General Information

    Standard status
    Active
    Zoning
    C-1 Commercial
    Size
    13,055 SF
    Lot size
    1.40 Acres

    Building Details

    Year built
    2005

    We can help!

    Listing Contact
    John Redfield
    John Redfield
    Source: Crexi

    Listing Agency: SRS Real Estate Partners Newport Beach Listing Agent: John Redfield

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Phoenix CVS Pharmacy Investment Property

    This is an opportunity to acquire a fee simple interest in an absolute NNN leased CVS Pharmacy investment property in Phoenix, Arizona. CVS has operated at this location since 2005 and has a pending 10-year lease extension. The tenant will have 8 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities. The store operates daily from 7:00 AM to 11:00 PM, with the pharmacy open from 8:00 AM to 8:00 PM. The property supports nearly 385,000 customers per year and ranks in the top 82nd percentile of all CVS locations nationwide. The CVS Pharmacy is equipped with a drive-thru and is located at the signalized intersection of N. 7th Street (27,000 VPD) and E. Union Hills Drive (22,900 VPD). The property benefits from connectivity to Pima Freeway / State Highway 101 (225,600 VPD). The property is positioned near national and credit retailers and daily-needs destinations including Safeway, Fry’s, Ross Dress for Less, Walgreens, Starbucks, Dunkin’, Aldi, AT&T, and Planet Fitness. The asset is also in close proximity to HonorHealth Deer Valley Medical Center (204 beds), along with nearby medical offices and outpatient providers. The property benefits from accessibility to Phoenix Deer Valley Airport, which recorded approximately 344,393 aircraft operations (flights) in Calendar Year 2024. The surrounding 5-mile trade area is supported by approximately 298,368 residents with an average household income of approximately $112,199. The property size is 13,055 square feet.
    Location Intelligence

    Current Use by Public Records

    CVS Photo (Bike/Boat/Book/etc) Store CDReload - Online Bitcoin ... Crypto Atm LibertyX Bitcoin ATM Atm CVS Pharmacy Pharmacy Cardtronics ATM Atm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    CVS Pharmacy, CVS, Bashas' Pharmacy, Joy Forrester, Jennifer Miszuk

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0660809
    Latitude
    33.6542706

    Nearby Similar for Sale

    • $625,000

      Value-Add Opportunity in Downtown Phoenix

      Mixed-use property with income potential in a developing urban neighborhood.
      215 N 12Th Ave, Phoenix, AZ 85007
      View Details
    • $489,900
      1,720 SF

      Phoenix Office Building Investment Opportunity

      Office building near I-17 with high visibility and flexible zoning.
      8545 N Black Canyon Hwy, Phoenix, AZ 85021
      View Details
    • New
      $683,990
      2,554 SF

      New Duplex Near Downtown Phoenix

      New duplex near downtown Phoenix with light rail expansion potential.
      1712 S 3Rd St, Phoenix, AZ 85004
      View Details
    • $775,000
      4,590 SF

      New Construction Duplex in Phoenix

      New construction duplex with spacious units, modern design, and ample parking.
      5022 S 35Th Ave, Phoenix, AZ 85041
      View Details
    • $489,000
      3,060 SF

      Phoenix Duplex with Rental Potential

      Duplex with large units, ideal for rental income.
      1331 E Pueblo Ave, Phoenix, AZ 85040
      View Details
    • New
      $370,000
      2,883 SF

      Multifamily Property with Income Potential

      Unique property with five residences, ideal for investment or multigenerational living.
      1226 W Purdue Ave, Phoenix, AZ 85021
      View Details
    • $619,000

      Turnkey Phoenix Triplex Investment Property

      Fully renovated, furnished triplex in Downtown Phoenix with strong rental income.
      1515 W Tonto St, Phoenix, AZ 85007
      View Details
    • $699,900
      1,899 SF

      Phoenix Assisted Living Home

      Licensed assisted living home in prime Phoenix location.
      3569 E Utopia Rd, Phoenix, AZ 85050
      View Details
    • $780,000

      Renovated Phoenix Multifamily Short-Term Rental

      Comprehensively renovated 4-unit short-term rental in prime Phoenix location.
      322 N 11Th Pl, Phoenix, AZ 85006
      View Details
    • New
      $475,000

      Phoenix Duplex Value-Add Opportunity

      Duplex in convenient location with income potential and future upside.
      2226 N 28Th St, Phoenix, AZ 85008
      View Details
    • New
      $879,000

      Phoenix Multifamily Investment Opportunity

      Four-unit property with upside potential in North Phoenix.
      17859 N 40Th St, Phoenix, AZ 85032
      View Details
    • $599,900
      2,700 SF

      Phoenix Triplex Investment Opportunity

      Well-maintained triplex near Downtown Phoenix with strong rental potential.
      9027 N 11Th St, Phoenix, AZ 85020
      View Details

    FAQs

    What type of property is this?
    Drug store - NNN leased CVS Pharmacy with drive-thru in Phoenix, Arizona.
    Where is this drug store located?
    The property is located at 18460 N 7Th St Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $7,269,000.
    What are key features of this property?
    This property features: - Absolute NNN lease offers a management-free investment.; - Pending 10-year lease extension with 8 (5-year) options.; - Located at a signalized intersection with high traffic volume.
    Request Owner's contact information
    18460 N 7Th St Phoenix, AZ 85022
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    18460 N 7Th St
    Phoenix, AZ 85022
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    18460 N 7Th St Phoenix, AZ 85022
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Redfield
    John Redfield
    Real Estate License ID: 01928036
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!