Retail Shopping Center with Diverse
For Sale
Contact for pricing
4240 W BELL RD, Glendale, AZ 85308
For sale shopping center featuring a diversified tenant base in Glendale, Arizona.
Property Size33,480 SF
Price / SF$265.83
Days on Market95
Property Features for 4240 W BELL RD
General Information
Standard status
Active
Size
33,480 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$681,062
Building Details
Year Built
1986
Units
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Ryan Bowlby · License #CO FA100004157
Source:
Crexi
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 8:56PM
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 - Denver
Investment Insights
Based on property information with market context.
Bell Park Plaza is a for-sale retail shopping center configured to serve multiple tenants under one property umbrella. The asset is marketed as having a diversified tenant base, offering a retail mix intended to support day-to-day neighborhood traffic.
The property is located at 4240 W Bell Rd in Glendale, AZ 85308. As a neighborhood-scale retail center, it is positioned for convenient access by customers who are seeking local retail services.
For tenants and buyers evaluating retail real estate, Bell Park Plaza presents a straightforward shopping center format with multiple tenants in place. Its diversified tenancy is a practical consideration for operators looking for a property where income is not reliant on a single business line.
The property is located at 4240 W Bell Rd in Glendale, AZ 85308. As a neighborhood-scale retail center, it is positioned for convenient access by customers who are seeking local retail services.
For tenants and buyers evaluating retail real estate, Bell Park Plaza presents a straightforward shopping center format with multiple tenants in place. Its diversified tenancy is a practical consideration for operators looking for a property where income is not reliant on a single business line.
Key Highlights
- Shopping center for sale in Glendale, AZ
- Diversified tenant base
- Built in 1986
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
$385,991
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
4.34%
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%
$7,719,820
$7.7M
Cap Rate 7%
$5,514,157
$5.5M
Cap Rate 9%
$4,288,789
$4.3M
Market Conditions
NOI Build-Up for 33,480 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
$602.6K $18.00/SF
− Vacancy
−$51.2K −$1.53/SF
EGI
$551.4K $16.47/SF
− OpEx
−$165.4K −$4.94/SF
NOI
$386.0K $11.53/SF
Area
Glendale, AZ
Vacancy
8.50%
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%
$7,719,820
Cap Rate 7%
$5,514,157
Cap Rate 9%
$4,288,789
Alternative Uses
Best Use
Retail
$5.51M
$4.82M – $6.43M
NOI $385,991 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.52M
$9.20M – $12.27M
NOI $736,153 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85308, AZ
66,540
Population
26,540
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
3,937
Density / Sq Mi
$95,512
Median Household Income
$50,026
Median Earnings
$1,777
Median Rent
$420,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - For sale shopping center featuring a diversified tenant base in Glendale, Arizona.
Where is this shopping center located?
The property is located at 4240 W BELL RD Glendale, AZ.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: Shopping center for sale in Glendale, AZ; Diversified tenant base; Built in 1986
