Remodeled Retail-Office Flex
For Sale
Contact for pricing
4033 N 19TH AVE, Phoenix, AZ 85015
Two freestanding buildings on a 1-acre lot with remodeled 2024 interior space and rear workshop roll-up doors.
Property Size10,310 SF
Lot Size1.01 Acres
Price / SF$162.46
Days on Market85
Property Features for 4033 N 19TH AVE
General Information
Standard status
Active
Size
10,310 SF
Class
C
Lot size
1.01 Acres
Property subtype
Retail, Office
Zoning
C-2
Additional Details
Multifamily Units
1
Building Details
Year Built
1960
Year Renovated
2024
Stories
1
Tenancy
Single
Listing Agency:
Citywide Commercial Real Estate
Listed By:
Todd Hamilton · License #AZ 113954000
(602) 313-1000
Source:
Crexi
Added: Jun 15
Changed: Sep 4
Last Checked: Sep 7 at 8:58AM
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 Citywide Commercial Real Estate
Investment Insights
Based on property information with market context.
This remodeled 2024 retail/office flex property includes two freestanding buildings totaling approximately 10,310 square feet on a roughly 1.01-acre lot. Building 1 offers private offices, reception, a break room, restrooms, and a rear workshop with four 8’x8’ roll-up doors, with about 6,000 square feet on the first floor plus additional space on the second floor. The second floor includes approximately 2,310 square feet and also includes a residential unit with appliances. Building 2 provides about 2,000 square feet with an open showroom, private restrooms, and a rear workshop.
The property has 19th Avenue frontage and is served by natural gas and single-phase power (125 amps). The site includes a paved, secured lot of approximately 21,000 square feet.
The property is listed for sale with C-2 zoning in the City of Phoenix and is located on four total parcels (110-07-089A, 110-07-086, 110-07-081, 110-07-080A).
The property has 19th Avenue frontage and is served by natural gas and single-phase power (125 amps). The site includes a paved, secured lot of approximately 21,000 square feet.
The property is listed for sale with C-2 zoning in the City of Phoenix and is located on four total parcels (110-07-089A, 110-07-086, 110-07-081, 110-07-080A).
Key Highlights
- Two freestanding retail/office buildings totaling about 10,310 SF on an approximately 1.01‑acre lot in Phoenix
- Remodeled interior space in 2024
- 19th Avenue frontage with C‑2 zoning (City of Phoenix)
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
$116,526
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
6.96%
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%
$2,330,520
$2.3M
Cap Rate 7%
$1,664,657
$1.7M
Cap Rate 9%
$1,294,733
$1.3M
Market Conditions
NOI Build-Up for 10,310 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
$185.6K $18.00/SF
− Vacancy
−$19.1K −$1.85/SF
EGI
$166.5K $16.15/SF
− OpEx
−$49.9K −$4.84/SF
NOI
$116.5K $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%
$2,330,520
Cap Rate 7%
$1,664,657
Cap Rate 9%
$1,294,733
Alternative Uses
Best Use
Office B
$2.52M
$2.21M – $2.94M
NOI $176,494 @ 7.0% cap · market cap 10.54%
Second Best
Retail
$1.66M
$1.46M – $1.94M
NOI $116,526 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,609 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two freestanding buildings on a 1-acre lot with remodeled 2024 interior space and rear workshop roll-up doors.
Where is this office units located?
The property is located at 4033 N 19TH AVE Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Two freestanding retail/office buildings totaling about 10,310 SF on an approximately 1.01‑acre lot in Phoenix; Remodeled interior space in 2024; 19th Avenue frontage with C‑2 zoning (City of Phoenix)
