Mixed-Use Property with Light Rail
For Sale
Contact for pricing
300 W Camelback Rd, Phoenix, AZ 85013
Multi-tenant retail, dining, and event property with historic character, modern improvements, and direct light rail access.
Property Size18,599 SF
Lot Size1.20 Acres
Price / SF$416.69
Days on Market140
Property Features for 300 W Camelback Rd
General Information
Standard status
Active
Size
18,599 SF
Class
A
Lot size
1.20 Acres
Property subtype
Mixed Use, Retail
Zoning
C-2: TOD-1 (Light Rail)
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$432,789
Additional Details
Corner Location
Yes
Building Details
Year Built
1961
Year Renovated
2014
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Kocour Company
Listed By:
Brian Kocour · License #Arizona LC67501000
Source:
Crexi
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 30 at 5:26PM
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 Kocour Company
Investment Insights
Based on property information with market context.
The Newton Phoenix is a multi-tenant mixed-use property combining retail, dining, and event space within an 18,599-square-foot building on approximately 1.20 acres. Originally completed in 1961, the property was comprehensively renovated and reopened in 2014. Improvements include floor-to-ceiling glass, exposed trussed ceilings, indoor-outdoor green space, and custom fireplaces made with vintage Queen Creek adobe brick.
Positioned at the signalized northwest corner of 3rd Avenue and Camelback Road, the property is served by light rail and located adjacent to the Rise Uptown Boutique Hotel. The tenant mix includes Changing Hands Bookstore, First Draft Book Bar, The Toasted Owl, Tesota, event venues, and meeting and event spaces. The surrounding area includes established retail corridors and dense residential historic neighborhoods. Zoning is C-2: TOD-1 (Light Rail).
Positioned at the signalized northwest corner of 3rd Avenue and Camelback Road, the property is served by light rail and located adjacent to the Rise Uptown Boutique Hotel. The tenant mix includes Changing Hands Bookstore, First Draft Book Bar, The Toasted Owl, Tesota, event venues, and meeting and event spaces. The surrounding area includes established retail corridors and dense residential historic neighborhoods. Zoning is C-2: TOD-1 (Light Rail).
Key Highlights
- 18,599‑square‑foot mixed‑use property on approximately 1.20 acres
- Signalized corner at 3rd Avenue and Camelback Road with light rail access
- Retail, dining, event, meeting, and multi‑tenant commercial configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$277,199
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,543,980
$5.5M
Cap Rate 7%
$3,959,986
$4.0M
Cap Rate 9%
$3,079,989
$3.1M
Market Conditions
NOI Build-Up for 18,599 SF
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.
Gross rent
$401.7K $21.60/SF
− Vacancy
−$32.1K −$1.73/SF
EGI
$369.6K $19.87/SF
− OpEx
−$92.4K −$4.97/SF
NOI
$277.2K $14.90/SF
Area
Phoenix, AZ
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,543,980
Cap Rate 7%
$3,959,986
Cap Rate 9%
$3,079,989
Alternative Uses
Best Use
Specialty Retail
$3.96M
$3.46M – $4.62M
NOI $277,199 @ 7.0% cap · market cap 3.58%
Second Best
Mixed Use
$3.39M
$2.96M – $3.95M
NOI $237,137 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$5.63M
$4.93M – $6.57M
NOI $394,366 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,597
Businesses Nearby
Explore this area
Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant retail, dining, and event property with historic character, modern improvements, and direct light rail access.
Where is this mixed-use property located?
The property is located at 300 W Camelback Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $7,750,000.
What are key features of this property?
This property features: 18,599‑square‑foot mixed‑use property on approximately 1.20 acres; Signalized corner at 3rd Avenue and Camelback Road with light rail access; Retail, dining, event, meeting, and multi‑tenant commercial configuration
