Two-Building Retail
1940 W Glendale Ave. & 7080 N 19th Ave. Phoenix, AZ 85021
New
For Sale
$4,773,000
For-sale retail property featuring two buildings totaling about 20,664 square feet.
Property Size20,664 SF
Price / SF$230.98
Days on Market6
Property Features for 1940 W Glendale Ave. & 7080 N 19th Ave.
General Information
Standard status
Active
Size
20,664 SF
Property subtype
Retail
Building Details
Year Built
2008
Listing Agency:
Lee & Associates | Phoenix
(602) 954-3774
Listed By:
Sean M. Bishop, CCIM
Source:
Lee-associates
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 30 at 3:15AM
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 Lee & Associates | Phoenix
Investment Insights
Based on property information with market context.
This for-sale retail property includes two separate buildings totaling approximately 20,664 square feet. The offering is structured as a multi-building retail asset, providing an investor or operator with flexibility in how the space can be managed.
The property is located at 1940 W. Glendale Ave. & 7080 N. 19th Ave. in Phoenix, AZ 85021.
The property is located at 1940 W. Glendale Ave. & 7080 N. 19th Ave. in Phoenix, AZ 85021.
Key Highlights
- Two‑building retail property totaling about 20,664 SF
- Year built: 2008
Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $372.0k | $18.00 |
| − Vacancy | −$38.3k | −$1.85 |
| EGI | $333.6k | $16.15 |
| − OpEx | −$100.1k | −$4.84 |
| NOI | $233.5k | $11.30 |
20,664 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.34M
$2.92M – $3.89M
NOI $233,549 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.26M
$5.48M – $7.30M
NOI $438,151 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - For-sale retail property featuring two buildings totaling about 20,664 square feet.
Where is this retail space located?
The property is located at 1940 W Glendale Ave. & 7080 N 19th Ave. Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,773,000.
What are key features of this property?
This property features: Two‑building retail property totaling about 20,664 SF; Year built: 2008
