Retail Property with Truck
For Sale
Contact for pricing
3528 W Cactus Rd, Phoenix, AZ 85029
Retail property for sale on a large parcel, featuring a truck well in the back and potential to demise space.
Property Size17,000 SF
Lot Size2.94 Acres
Price / SF$217.65
Days on Market64
Property Features for 3528 W Cactus Rd
General Information
Standard status
Active
Size
17,000 SF
Lot size
2.94 Acres
Property subtype
RETAIL
Lease Type
NNN
Additional Details
Traffic Count
31,089 vehicles/day
Amenities
truck well
Properties For Sale
at 3528 W Cactus Rd Contact us- Size
- 17,000 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
3528 W Cactus Rd
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Mark Cassell · License #SA659518000
(818) 390-0838
Source:
Moodyscre
Added: Jul 6
Changed: Aug 8
Last Checked: Sep 6 at 11:59AM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail property for sale offers flexibility with the potential to demise space. The site includes a large parcel of approximately 12.94 acres and a truck well located in the back to support deliveries and back-of-house operations. The property size is approximately 17,000 square feet.
The property is positioned along Cactus Rd and N 35th Ave with reported traffic counts of approximately 31,089 VPD and 31,763 VPD, respectively. Public remarks also reference a dense trade area with nearly 500,000 people within a 5-mile radius.
Offered as a single retail asset, the configuration supports multiple approaches to tenant layout given the ability to break out or demise space.
The property is positioned along Cactus Rd and N 35th Ave with reported traffic counts of approximately 31,089 VPD and 31,763 VPD, respectively. Public remarks also reference a dense trade area with nearly 500,000 people within a 5-mile radius.
Offered as a single retail asset, the configuration supports multiple approaches to tenant layout given the ability to break out or demise space.
Key Highlights
- Large 2.94‑acre retail parcel with a truck well in the back
- Potential to demise space for flexible retail layout options
- Nearly 500,000 people within a 5‑mile radius
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
$192,137
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
5.19%
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%
$3,842,740
$3.8M
Cap Rate 7%
$2,744,814
$2.7M
Cap Rate 9%
$2,134,856
$2.1M
Market Conditions
NOI Build-Up for 17,000 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
$306.0K $18.00/SF
− Vacancy
−$31.5K −$1.85/SF
EGI
$274.5K $16.15/SF
− OpEx
−$82.3K −$4.84/SF
NOI
$192.1K $11.30/SF
Area
Phoenix, AZ
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 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%
$3,842,740
Cap Rate 7%
$2,744,814
Cap Rate 9%
$2,134,856
Alternative Uses
Best Use
Retail
$2.74M
$2.40M – $3.20M
NOI $192,137 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.15M
$4.51M – $6.01M
NOI $360,461 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31,089 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 85029, AZ
47,101
Population
19,723
Households
2.4
Avg Household Size
35
Median Age
22%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
5,011
Density / Sq Mi
$60,384
Median Household Income
$37,282
Median Earnings
$1,319
Median Rent
$307,800
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?
Retail space - Retail property for sale on a large parcel, featuring a truck well in the back and potential to demise space.
Where is this retail space located?
The property is located at 3528 W Cactus Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Large 2.94‑acre retail parcel with a truck well in the back; Potential to demise space for flexible retail layout options; Nearly 500,000 people within a 5‑mile radius
