Multi-Tenant Retail
For Sale
Contact for pricing
3150 N Alma School Rd, Chandler, AZ 85224
A well-maintained 8,760 SF retail building with partial occupancy and three tenants, plus two cell towers for added income.
Property Size8,760 SF
Price / SF$285
Days on Market232
Property Features for 3150 N Alma School Rd
General Information
Standard status
Active
Size
8,760 SF
Property subtype
RETAIL
Occupancy
40%
Building Details
Tenancy
Multi
Listing Agency:
ORION Investment Real Estate
(480) 634-6934
Listed By:
Jennifer Eggert · License #SA554395000
(480) 205-7681
Source:
Moodyscre
Added: Jan 23
Changed: Sep 5
Last Checked: Sep 12 at 11:45AM
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.
This is an 8,760 SF retail building in excellent condition, currently 40% leased to three tenants. The property provides a blend of in-place rental income and space available for lease-up.
In addition, the site includes two long-term cell towers that generate substantial monthly income. The current ownership has maintained the building well, with no deferred maintenance identified for a buyer.
For buyers looking for an owner-user, the existing configuration supports occupancy by a business while retaining income from the current tenants and tower revenue. For investors, the vacancies provide an opportunity to improve overall occupancy over time.
In addition, the site includes two long-term cell towers that generate substantial monthly income. The current ownership has maintained the building well, with no deferred maintenance identified for a buyer.
For buyers looking for an owner-user, the existing configuration supports occupancy by a business while retaining income from the current tenants and tower revenue. For investors, the vacancies provide an opportunity to improve overall occupancy over time.
Key Highlights
- 8,760 SF retail building currently 40% leased with three tenants
- Potential for rental upside through leasing up the available vacancy space
- Includes two long‑term cell towers providing substantial monthly income
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
$102,429
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
4.10%
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%
$2,048,580
$2.0M
Cap Rate 7%
$1,463,271
$1.5M
Cap Rate 9%
$1,138,100
$1.1M
Market Conditions
NOI Build-Up for 8,760 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
$157.7K $18.00/SF
− Vacancy
−$11.4K −$1.30/SF
EGI
$146.3K $16.70/SF
− OpEx
−$43.9K −$5.01/SF
NOI
$102.4K $11.69/SF
Area
Chandler, AZ
Vacancy
7.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,048,580
Cap Rate 7%
$1,463,271
Cap Rate 9%
$1,138,100
Alternative Uses
Best Use
Retail
$1.46M
$1.28M – $1.71M
NOI $102,429 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,761 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
40%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 89%
Electronics 7%
Shops & Services 4%
Starbucks
Dining
14,369 visits/mo
0.0 miles
IHOP
Dining
11,682 visits/mo
0.1 miles
CPR Cell Phone Repair
Electronics
1,982 visits/mo
0.0 miles
O'Reilly Auto Parts
Shops & Services
1,184 visits/mo
0.1 miles
Demographics for 85224, AZ
46,919
Population
21,559
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
4,991
Density / Sq Mi
$90,886
Median Household Income
$53,408
Median Earnings
$1,785
Median Rent
$391,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Full Garden Floral Shop — 2988 N Alma School Rd #4, Chandler, AZ 85224
Frequently Asked Questions
What type of property is this?
Storefront property - A well-maintained 8,760 SF retail building with partial occupancy and three tenants, plus two cell towers for added income.
Where is this storefront property located?
The property is located at 3150 N Alma School Rd Chandler, AZ.
What is the asking price?
The asking price for this property is $2,496,600.
What are key features of this property?
This property features: 8,760 SF retail building currently 40% leased with three tenants; Potential for rental upside through leasing up the available vacancy space; Includes two long‑term cell towers providing substantial monthly income
