Neighborhood Retail
2317 North 7th Street Phoenix, AZ 85006
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 Market58
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
Changed: Jul 10
Last Checked: Jul 29 at 4:20PM
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
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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Frequently Asked Questions
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
