Retail Strip Center
3402 East Thomas Road Phoenix, AZ 85018
3402 East Thomas Road, Phoenix, AZ, 85018
Contact for pricing
For Sale
Contact for pricing
Retail strip center offered for sale in Central Phoenix’s Arcadia trade area.
Property Size19,579 SF
Price / SF$173.66
Days on Market43
Property Features for 3402 East Thomas Road
General Information
- Standard status
- Active
- Size
- 19,579 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing agency
Marcus & Millichap - Phoenix
Listed by
Omar Rascon · License #SA704894000
Source
Crexi
Added: Jun 9 Updated: Jul 20 at 6:14PM Checked: Jul 20 at 6:14PM
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 Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
This retail strip center, Shops on Thomas, is offered for sale in the heart of Central Phoenix’s Arcadia trade area. The property is positioned to serve a dense infill customer base supported by surrounding established residential neighborhoods and a concentration of national retailers.
Public remarks describe strong local demand indicators within a five-mile radius, including more than 293,000 residents and nearly 687,000 daytime employees, along with average household incomes exceeding $104,000. The Phoenix metropolitan area is also noted as a fast-growing market with sustained population growth and significant corporate investment.
A planned 320-unit multifamily development nearby is expected to increase housing density and consumer demand, supporting retail growth within one of Phoenix’s established urban corridors.
Public remarks describe strong local demand indicators within a five-mile radius, including more than 293,000 residents and nearly 687,000 daytime employees, along with average household incomes exceeding $104,000. The Phoenix metropolitan area is also noted as a fast-growing market with sustained population growth and significant corporate investment.
A planned 320-unit multifamily development nearby is expected to increase housing density and consumer demand, supporting retail growth within one of Phoenix’s established urban corridors.
Key Highlights
- Retail strip center in Central Phoenix’s Arcadia trade area
- Year built: 1960
- More than 293,000 residents within a 5‑mile radius
Local 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 | $352.4k | $18.00 |
| − Vacancy | −$36.3k | −$1.85 |
| EGI | $316.1k | $16.15 |
| − OpEx | −$94.8k | −$4.84 |
| NOI | $221.3k | $11.30 |
19,579 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.16M
$2.77M – $3.69M
NOI $221,286 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.93M
$5.19M – $6.92M
NOI $415,145 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Xoxo Tattoo Shop
Tattoo & Piercing Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — PLS Financial Services, Inc, 3800 E Thomas Rd, Phoenix, AZ 85018
- Coinstar Kiosk | Bitcoin ATM — Kroger - Fry's Food Stores, 3036 E Thomas Rd, Phoenix, AZ 85016
- Desert Palms Power Center — 3721 E Thomas Rd, Phoenix, AZ 85018
- East Thomas Marketplace — 3130 E Thomas Rd, Phoenix, AZ 85016
- Pierce Plaza — 4041 e thomas rd, phoenix, az 85018
FAQs
What type of property is this?
Shopping center - Retail strip center offered for sale in Central Phoenix’s Arcadia trade area.
Where is this shopping center located?
The property is located at 3402 East Thomas Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Retail strip center in Central Phoenix’s Arcadia trade area; Year built: 1960; More than 293,000 residents within a 5‑mile radius
