Fully Leased Retail-Office
For Sale
$8,776,692
2293 - 2333 N Pebble Creek Pkwy, Goodyear, AZ 85395
Own a fully leased, multi-tenant retail-office center with two buildings totaling 25,550 SF.
Property Size25,366 SF
Price / SF$343.51
Days on Market48
Property Features for 2293 - 2333 N Pebble Creek Pkwy
General Information
Standard status
Active
Size
25,366 SF
Class
B
Property subtype
Multi Tenant Office
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Building Size
25,366 SF
Tenancy
Multi
Listing Agency:
COBE Real Estate
(480) 610-2400
Listed By:
Steve Beck · License #714756000
(480) 610-2400
Source:
Thebrokerlist
Added: Jun 23
Changed: Aug 7
Last Checked: Aug 9 at 4:27AM
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 COBE Real Estate
Investment Insights
Based on property information with market context.
This fully leased retail-office center includes two buildings: a 19,150 SF building and a 6,400 SF building. The property is currently configured as a multi-tenant asset with space leased to five tenants. The buildings are described as well maintained, supporting ongoing occupancy.
The center is located at 2333 N Pebble Creek Pkwy in Goodyear, AZ. The property is positioned about half a mile north of I-10, which can support convenient regional access for tenants and customers.
For buyers seeking an income-producing commercial property, this offering provides a retail-office mix with existing long-term leases in place across five tenants. With two separate buildings on-site, the layout offers operational flexibility within a single ownership structure while maintaining a diversified tenant base.
The center is located at 2333 N Pebble Creek Pkwy in Goodyear, AZ. The property is positioned about half a mile north of I-10, which can support convenient regional access for tenants and customers.
For buyers seeking an income-producing commercial property, this offering provides a retail-office mix with existing long-term leases in place across five tenants. With two separate buildings on-site, the layout offers operational flexibility within a single ownership structure while maintaining a diversified tenant base.
Key Highlights
- Fully leased retail‑office center in Goodyear with 5 tenants
- Two‑building setup totaling 25,550 SF: one 19,150‑SF building and one 6,400‑SF building
- Multi‑tenant opportunity with retail‑office space across 5 tenants
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
$371,829
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
4.24%
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%
$7,436,580
$7.4M
Cap Rate 7%
$5,311,843
$5.3M
Cap Rate 9%
$4,131,433
$4.1M
Market Conditions
NOI Build-Up for 25,550 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
$643.9K $25.20/SF
− Vacancy
−$148.1K −$5.80/SF
EGI
$495.8K $19.40/SF
− OpEx
−$123.9K −$4.85/SF
NOI
$371.8K $14.55/SF
Area
Goodyear, AZ
Vacancy
23.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
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%
$7,436,580
Cap Rate 7%
$5,311,843
Cap Rate 9%
$4,131,433
Alternative Uses
Best Use
Office B
$5.31M
$4.65M – $6.20M
NOI $371,829 @ 7.0% cap · market cap 4.24%
Second Best
Retail
$4.57M
$4.00M – $5.33M
NOI $319,769 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$7.54M
$6.60M – $8.80M
NOI $527,744 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 85395, AZ
37,157
Population
15,710
Households
2.4
Avg Household Size
45
Median Age
40%
College-Educated
91%
High-School Grad
18.6 sq mi
ZIP Area
1,998
Density / Sq Mi
$107,980
Median Household Income
$52,185
Median Earnings
$1,912
Median Rent
$524,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Own a fully leased, multi-tenant retail-office center with two buildings totaling 25,550 SF.
Where is this office building located?
The property is located at 2293 - 2333 N Pebble Creek Pkwy Goodyear, AZ.
What is the asking price?
The asking price for this property is $8,776,692.
What are key features of this property?
This property features: Fully leased retail‑office center in Goodyear with 5 tenants; Two‑building setup totaling 25,550 SF: one 19,150‑SF building and one 6,400‑SF building; Multi‑tenant opportunity with retail‑office space across 5 tenants
