Infill Retail Property with
2310 N 16th St Phoenix, AZ 85006
New
2310 N 16th St, Phoenix, AZ, 85006
$2,500,000
For Sale
$2,500,000
Two retail spaces totaling 12,027 SF sit on a 0.619-acre site with 30 surface parking spaces.
Property Size12,027 SF
Lot Size0.62 Acres
Price / SF$207.87
Days on Market1
Property Features for 2310 N 16th St
General Information
- Standard status
- Active
- Size
- 12,027 SF
- Lot size
- 0.62 Acres
- Property subtype
- Restaurant
Listing Agency
R.O.I. Properties
(602) 319-1326
Listed by
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source
Thebrokerlist
Added: Jul 18 Checked: Jul 18 at 3:27 am
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 R.O.I. Properties
Investment Insights
Based on property information with market context.
2310 N 16th St is a Central Phoenix infill retail property comprising two separate spaces. The larger 10,527 SF retail unit will be delivered vacant at close, ready for an owner-user to move in immediately. A smaller 1,500 SF space is currently operating as a bar and lounge and has been occupied continuously by the same operator since 1976, with rent collected on a month-to-month basis.
The property is situated on a 0.619-acre site with 30 surface parking spaces and additional space that could allow for added parking. It is located within the Midtown/Coronado corridor, steps from the historic Coronado District.
This offering supports an owner-user approach by pairing a vacant main retail unit with existing, in-place bar and lounge income.
The property is situated on a 0.619-acre site with 30 surface parking spaces and additional space that could allow for added parking. It is located within the Midtown/Coronado corridor, steps from the historic Coronado District.
This offering supports an owner-user approach by pairing a vacant main retail unit with existing, in-place bar and lounge income.
Key Highlights
- 12,027 SF Central Phoenix retail property in the Midtown/Coronado corridor on a 0.619‑acre (26,954 SF) site.
- 30 surface parking spaces plus room to add more.
- Two retail spaces: 10,527 SF larger unit delivered vacant at close for immediate owner‑user occupancy.
Local Financial Insights For Specialty 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 | $259.8k | $21.60 |
| − Vacancy | −$20.8k | −$1.73 |
| EGI | $239.0k | $19.87 |
| − OpEx | −$59.8k | −$4.97 |
| NOI | $179.3k | $14.90 |
12,027 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.56M
$2.24M – $2.99M
NOI $179,250 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$1.94M
$1.70M – $2.27M
NOI $135,932 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$3.64M
$3.19M – $4.25M
NOI $255,016 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Royale Lounge
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Two retail spaces totaling 12,027 SF sit on a 0.619-acre site with 30 surface parking spaces.
Where is this retail space located?
The property is located at 2310 N 16th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12,027 SF Central Phoenix retail property in the Midtown/Coronado corridor on a 0.619‑acre (26,954 SF) site.; 30 surface parking spaces plus room to add more.; Two retail spaces: 10,527 SF larger unit delivered vacant at close for immediate owner‑user occupancy.
