Freestanding Retail
3004 E McDowell Road, Phoenix, AZ 85008
For Sale
New
$550,000
Interior reconstruction includes updated electrical service, plumbing rough-ins, HVAC infrastructure, framing and drywall.
Property Size1,800 SF
Days on Market3
Property Features for 3004 E McDowell Road
General Information
Standard status
Size
Property subtype
Space & Availability
Condition
Furnished
Site & Location
Neighborhood
Highway Access
Road Access
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Realty ONE Group
Listed By:
Claudia Jara
(602) 363-1321
Source:
Alexiabertsatos
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 12 at 2:26PM
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 Realty ONE Group
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Investment Insights
Based on property information with market context.
This freestanding retail building, constructed in 1950, is undergoing a fully permitted interior reconstruction. Planned improvements include updated electrical service, plumbing rough-ins, upgraded framing, HVAC infrastructure and new drywall, with delivery in vanilla-shell condition for completion of final fixtures and finishes. Building signage and direct frontage are present along East McDowell Road.
The property is on the East McDowell commercial corridor, with access to SR-51, I-10 and Loop 202. Downtown Phoenix, Phoenix Children's Hospital, Banner University Medical Center and the Coronado historic district are identified as nearby destinations.
The property is on the East McDowell commercial corridor, with access to SR-51, I-10 and Loop 202. Downtown Phoenix, Phoenix Children's Hospital, Banner University Medical Center and the Coronado historic district are identified as nearby destinations.
Key Highlights
- Freestanding retail building with direct frontage on East McDowell Road
- Fully permitted interior reconstruction is underway
- Vanilla‑shell delivery with new drywall and upgraded framing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,344
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,880
$406.9K
Cap Rate 7%
$290,629
$290.6K
Cap Rate 9%
$226,044
$226.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$32.4K $18.00/SF
− Vacancy
−$3.3K −$1.85/SF
EGI
$29.1K $16.15/SF
− OpEx
−$8.7K −$4.84/SF
NOI
$20.3K $11.30/SF
Area
ZIP 85008
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,880
Cap Rate 7%
$290,629
Cap Rate 9%
$226,044
Alternative Uses
Best Use
Retail
$290.6K
$254.3K – $339.1K
NOI $20,344 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.3K
$486.7K – $649.0K
NOI $38,939 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Retail space in Phoenix
Vacancy Rate% for Retail in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Retail space - Interior reconstruction includes updated electrical service, plumbing rough-ins, HVAC infrastructure, framing and drywall.
Where is this retail space located?
The property is located at 3004 E McDowell Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Freestanding retail building with direct frontage on East McDowell Road; Fully permitted interior reconstruction is underway; Vanilla‑shell delivery with new drywall and upgraded framing
