Neighborhood Retail
2317 North 7th Street Phoenix, AZ 85006
2317 North 7th Street, Phoenix, AZ, 85006
Contact for pricing
For Sale
Contact for pricing
Well-occupied neighborhood retail center with multiple local tenants on a busy retail corridor.
Property Size10,546 SF
Price / SF$331.88
Days on Market50
Property Features for 2317 North 7th Street
General Information
- Standard status
- Active
- Size
- 10,546 SF
- Property subtype
- Retail
Listing agency
ORION Investment Real Estate
Listed by
Andrew Harrison · License #AZ BR537656000
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 4:00PM Checked: Jul 21 at 8:37AM
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 ORION Investment Real Estate
Investment Insights
Based on property information with market context.
Sheridan Square is a neighborhood retail center totaling 10,546 square feet on an approximately 40,000-square-foot parcel. The property is offered for sale and is currently 80% occupied. Tenant mix includes Main Ingredient, Urban Cookies, Teta Mayo, and Velo, providing an established day-to-day roster of local businesses.
The center benefits from prominent visibility along 7th Street within Phoenix’s historic Coronado District, positioned just north of Downtown Phoenix. Public remarks cite traffic counts exceeding 45,000 vehicles per day along the corridor.
For buyers evaluating neighborhood retail as part of a broader portfolio, Sheridan Square offers existing operating income supported by a diversified local tenant set. The current vacancy also creates an opportunity to improve occupancy through additional leasing. The sale presentation includes a stated 6.5% cap rate, which may be a useful starting point for underwriting the property’s current income stream and remaining leasing needs.
The center benefits from prominent visibility along 7th Street within Phoenix’s historic Coronado District, positioned just north of Downtown Phoenix. Public remarks cite traffic counts exceeding 45,000 vehicles per day along the corridor.
For buyers evaluating neighborhood retail as part of a broader portfolio, Sheridan Square offers existing operating income supported by a diversified local tenant set. The current vacancy also creates an opportunity to improve occupancy through additional leasing. The sale presentation includes a stated 6.5% cap rate, which may be a useful starting point for underwriting the property’s current income stream and remaining leasing needs.
Key Highlights
- Neighborhood retail center in Phoenix’s 7th Street Corridor within the Historic Coronado District
- 10,546 SF retail space on an approximately 40,000 SF parcel
- Currently 80% occupied with tenants including Main Ingredient, Urban Cookies, Teta Mayo, and Velo
Local 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 | $189.8k | $18.00 |
| − Vacancy | −$19.6k | −$1.85 |
| EGI | $170.3k | $16.15 |
| − OpEx | −$51.1k | −$4.84 |
| NOI | $119.2k | $11.30 |
10,546 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.99M
NOI $119,193 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.80M – $3.73M
NOI $223,613 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Velo Bike Shop
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 2530 N 7th St #101, Phoenix, AZ 85006
- Coronado Treasures In Phx az — 2530 N 7th St, Phoenix, AZ 85006
- McDowell MarketPlace — 525 E McDowell Rd, Phoenix, AZ 85004
- Marvel on McDowell — 1428 E McDowell Rd, Phoenix, AZ 85006
- Coinstar Kiosk | Bitcoin ATM — Safeway, 340 E McDowell Rd, Phoenix, AZ 85004
FAQs
What type of property is this?
Shopping center - Well-occupied neighborhood retail center with multiple local tenants on a busy retail corridor.
Where is this shopping center located?
The property is located at 2317 North 7th Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Neighborhood retail center in Phoenix’s 7th Street Corridor within the Historic Coronado District; 10,546 SF retail space on an approximately 40,000 SF parcel; Currently 80% occupied with tenants including Main Ingredient, Urban Cookies, Teta Mayo, and Velo
