Street-Level Retail
For Sale
Contact for pricing
2323 N Central Ave, Phoenix, AZ 85004
Street-level retail condo with direct North Central Avenue frontage and C-2 zoning in a mixed-use tower.
Property Size1,800 SF
Price / SF$333.33
Days on Market144
Property Features for 2323 N Central Ave
General Information
Standard status
Active
Size
1,800 SF
Property subtype
RETAIL
Zoning
C-2
Additional Details
Floor
Ground
Traffic Count
20,000 vehicles/day
Amenities
Valley Metro Light Rail access
Building Details
Buildings
1
Stories
22
Listing Agency:
SVN | Desert Commercial Advisors
(602) 621-2225
Listed By:
Karson Hayes · License #BR548198000
(602) 621-2225
Source:
Moodyscre
Added: Mar 10
Changed: Jul 31
Last Checked: Jul 31 at 8:13AM
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 SVN | Desert Commercial Advisors
Investment Insights
Based on property information with market context.
Street-level retail condo offering direct frontage on North Central Avenue. The unit is positioned within Regency on Central, a 22-story residential tower that includes 119 residential units, supporting an in-building customer base.
The property is described as receiving 20,000+ vehicles per day and provides immediate access to Valley Metro Light Rail. C-2 zoning allows for a wide range of retail and service uses.
With frontage on North Central Avenue and convenient transit access, the space is set up to serve both neighborhood foot traffic and retail-driven demand from the surrounding Midtown Phoenix area near dining, arts, and entertainment.
The property is described as receiving 20,000+ vehicles per day and provides immediate access to Valley Metro Light Rail. C-2 zoning allows for a wide range of retail and service uses.
With frontage on North Central Avenue and convenient transit access, the space is set up to serve both neighborhood foot traffic and retail-driven demand from the surrounding Midtown Phoenix area near dining, arts, and entertainment.
Key Highlights
- Direct frontage on North Central Avenue
- Located within Regency on Central, a 22‑story residential tower
- Building includes 119 residential units
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 | $32.4k | $18.00 |
| − Vacancy | −$3.3k | −$1.85 |
| EGI | $29.1k | $16.15 |
| − OpEx | −$8.7k | −$4.84 |
| NOI | $20.3k | $11.30 |
1,800 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$290.6K
$254.3K – $339.1K
NOI $20,344 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$545.2K
$477.1K – $636.1K
NOI $38,166 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
3,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Street-level retail condo with direct North Central Avenue frontage and C-2 zoning in a mixed-use tower.
Where is this retail space located?
The property is located at 2323 N Central Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Direct frontage on North Central Avenue; Located within Regency on Central, a 22‑story residential tower; Building includes 119 residential units
