Melrose District Retail
4238 N 7th Ave Phoenix, AZ 85013
4238 N 7th Ave, Phoenix, AZ, 85013
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For Sale
Contact for pricing
Retail space with mezzanine and fenced yard in Melrose District.
Property Size8,100 SF
Price / SF$222.22
Days on Market849
Property Features for 4238 N 7th Ave
General Information
- Standard status
- Active
- Size
- 8,100 SF
- Property subtype
- Retail
Listing agency
Lee & Associates - Arizona
Listed by
Matt Fredrick · License #AZ SA551850000
Source
Crexi
Added: Mar 25, 2024 Updated: Jul 6 at 7:35AM Checked: Jul 17 at 12:13PM
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 Lee & Associates - Arizona
Investment Insights
Based on property information with market context.
This property presents a unique opportunity in the Melrose District, offering possibilities for various business ventures. The property includes a bonus mezzanine space and a fenced yard at the rear. The property size is 8100 square feet.
Key Highlights
- Unique opportunity in the Melrose District
- Options for different businesses
- Bonus mezzanine space
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 | $145.8k | $18.00 |
| − Vacancy | −$15.0k | −$1.85 |
| EGI | $130.8k | $16.15 |
| − OpEx | −$39.2k | −$4.84 |
| NOI | $91.5k | $11.30 |
8,100 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.31M
$1.14M – $1.53M
NOI $91,548 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.45M
$2.15M – $2.86M
NOI $171,749 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail space with mezzanine and fenced yard in Melrose District.
Where is this retail space located?
The property is located at 4238 N 7th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Unique opportunity in the Melrose District; Options for different businesses; Bonus mezzanine space
