3404 E Thomas Rd Phoenix, AZ 85018
Strip mall in high-traffic area with significant upside potential.
Type:Shopping Strip
Property size:
21,930 SFPrice / SF:
$159/SF- Added:
- Apr 3, 2026
- Days on Market:
- 21
- Last Refresh:
- Apr 3 at 4:53 am
Property Features for 3404 E Thomas Rd
General Information
- Standard status
- Active
- Size
- 21,930 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 1960
Listing agent Omar Rascon License #AZ: SA704894000 (602) 687-6762
Listing office Phoenix Office (602) 687-6762
Listing date Apr 3, 2026
Source Marcusmillichap
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Overview
Value Add Strip Mall Property
This strip mall property is located in a high-traffic retail corridor with frontage on Thomas Road, which sees approximately 40,834 vehicles per day. The property is situated directly across from 320 new multifamily units that are coming online. The center is 86% occupied and features below-market rents, averaging approximately $8.00 per square foot, while the market achieves closer to $18.00 per square foot. This creates near-term upside through lease-up and repricing. A neighborhood retail center anchored by a Walmart and a Home Depot is located down the road. The Walmart is in the 13th percentile and the Home Depot is in the 5th percentile for visitation, according to Placer.ai. The property's high-traffic setting and limited nearby retail supply support durable tenant demand and immediate upside. The property size is 21930 square feet.
Location Intelligence
Current Use by Public Records
Strip malls
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.0082415
- Latitude
- 33.4809819
Nearby Similar for Sale
FAQs
What type of property is this?
Strip mall - Strip mall in high-traffic area with significant upside potential.
Where is this strip mall located?
The property is located at 3404 E Thomas Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High‑traffic location on Thomas Road with approximately 40,834 vehicles per day.; Significant upside potential through lease‑up of 2 vacant suites.; Below‑market rents averaging $8.00 per square foot compared to market rents of $18.00 per square foot.
