2833-2837 E Bell Rd & 16628 N 29th St, Phoenix, AZ 85032

Building Details

Building Size 9,750 SF More

Year Built 1963 More

Buildings 1 More

Tenancy Multi More

Listing Agency: LevRose Commercial Real Estate

Listed By: Cameron Miller Show Phone

Source: Tcnworldwide

Added: Aug 9 Changed: Nov 7 Last Checked: Nov 8 at 4:59AM

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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 LevRose Commercial Real Estate

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Investment Insights

Based on property information with market context.

This Phoenix property is a 9,750-square-foot flex building with a retail component. Constructed in 1963, the premises is associated with four tenants and offers a commercial format that accommodates both flex and retail positioning.

The property is located at 2833-2837 E Bell Rd and 16628 N 29th St in Phoenix, Arizona 85032. Its dual retail/flex characterization and multi-tenant configuration provide the primary framework for evaluating the asset.

Key Highlights

• 9,750 SF flex building with a retail component
• Built in 1963
• Four tenants associated with the premises

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,319

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,086,380 $2.1M

Cap Rate 7%

$1,490,271 $1.5M

Cap Rate 9%

$1,159,100 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,750 SF

Gross rent

$166.1K $17.04/SF

− Vacancy

−$17.1K −$1.76/SF

EGI

$149.0K $15.28/SF

− OpEx

−$44.7K −$4.59/SF

NOI

$104.3K $10.70/SF

Area

ZIP 85032

Vacancy

10.30%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,086,380

Cap Rate 7%

$1,490,271

Cap Rate 9%

$1,159,100

Alternative Uses

Best Use

Retail

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,319 @ 7.0% cap · market cap 5.35%

Second Best

Flex RnD

$1.04M

$909.8K – $1.21M (±1% cap)

NOI $72,780 @ 7.0% cap · market cap 3.73%

Theoretical Best

Office A

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,304 @ 7.0% cap · market cap 10.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Dental Office Real Estate Agency Electrical Service (Bike/Boat/Book/etc) Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

953

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 85032, AZ

68,710

Population

30,386

Households

2.3

Avg Household Size

38

Median Age

34%

College-Educated

89%

High-School Grad

12.4 sq mi

ZIP Area

5,541

Density / Sq Mi

$74,331

Median Household Income

$44,790

Median Earnings

$1,492

Median Rent

$387,900

Median Home Value

Market

Average Price Trend$/SF for Flex space in Phoenix, AZ

$437 Jul

$196 Aug

$153 Sep

$145 Oct

Properties on Market for Flex space in Phoenix

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Phoenix, AZ

6.8% 2019

8.1% 2020

5% 2021

4.4% 2022

8.9% 2023

12.2% 2024

12.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - The property combines flexible commercial space with a four-tenant configuration.

Where is this flex space located?

The property is located at 2833-2837 E Bell Rd & 16628 N 29th St Phoenix, AZ.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: 9,750 SF flex building with a retail component; Built in 1963; Four tenants associated with the premises