Mixed-Use Development with
5013 E Washington St, Phoenix, AZ 85034
Call to check price and availability
Two-building mixed-use property with high-end creative suites and restaurant.
Type:OFFICE
Property size:
52,146 SFPrice / SF:
$210/SF- Added:
- Apr 27, 2026
- Days on Market:
- 27
- Last Refresh:
- May 8 at 3:40 am
Property Features for 5013 E Washington St
General Information
- Standard status
- Active
- Size
- 52,146 SF
- Property subtype
- OFFICE
Listing agent Eric Wichterman License #SA109618000
Listing office Cushman & Wakefield | Phoenix (602) 954-9000
Listing date Apr 27, 2026
Source Moodyscre
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 Cushman & Wakefield | Phoenix
HighLights
- High‑quality, ±52,146 SF mixed‑use development in a modern, campus‑style environment.
- ±92% leased to a synergistic mix of professional office users and a historic, on‑site anchor restaurant.
- Home to Arizona’s original steakhouse, The Stockyards Restaurant, a landmark restaurant with robust and growing sales.
- Transit‑oriented location with direct light rail frontage/station and convenient access to freeways and Phoenix Sky Harbor International Airport.
- Over 50% of office space consists of cutting‑edge, high‑end creative suites, reducing tenant improvement costs.
- A ±2.3‑year WALT provides near‑term value creation through mark‑to‑market rental growth.
Overview
This mixed-use development consists of two buildings totaling approximately 52,146 square feet. The property features high-quality construction and a modern, campus-style environment. It is approximately 92% leased to a synergistic mix of professional office users, complemented by a historic, on-site anchor restaurant. The property is home to Arizona’s original steakhouse, The Stockyards Restaurant, a landmark restaurant that reinforces the property’s prestige, heritage, and long-standing community presence. The Stockyards Restaurant continues to thrive, often reaching full capacity and drawing a waitlist for both lunch and dinner. The restaurant’s gross sales are robust and steadily growing, with over 80% of revenue generated from dinner service. Over 50% of the office space consists of cutting-edge, high-end creative suites, which significantly reduce tenant improvement costs. The property offers a wide range of tenant suites and efficient floor plates designed to meet the needs of a wide range of tenants and support market-driven demand. A 2.3-year WALT provides clear near-term value creation through mark-to-market rental growth. The location is transit-oriented with direct light rail frontage/station, three freeways within a two-mile radius, and near immediate access to Phoenix Sky Harbor International Airport. It is strategically positioned at the convergence of Downtown Tempe and the North Airport/44th Street Corridor, benefiting from proximity to amenity-rich metro Phoenix locations, such as Downtown Tempe, Scottsdale, Downtown Phoenix, and Camelback.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$9.92M
NOI $892,673 @ 9.00% cap · cautious / downside scenario
Moderate
$12.75M
NOI $892,673 @ 7.00% cap · market / base-case scenario
Aggressive
$17.85M
NOI $892,673 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.60M | $30.72 |
| − Vacancy | −$411.7k | −$7.90 |
| EGI | $1.19M | $22.82 |
| − OpEx | −$297.6k | −$5.71 |
| NOI | $892.7k | $17.12 |
52,146 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$12.75M
$11.16M – $14.88M
NOI $892,673 @ 7.0% cap · market cap 8.13%
Second Best
Specialty Retail
$11.10M
$9.71M – $12.95M
NOI $777,184 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$15.80M
$13.82M – $18.43M
NOI $1,105,683 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
AerialSphere
(Bike/Boat/Book/etc) Store
Summit Line Construction
General Contractor
Jokake Real Estate ...
Financial Advisor
Clarion, LLC
Chemical Plant
Butler Design Group
Architect
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.9745074
- Latitude
- 33.4458909
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Two-building mixed-use property with high-end creative suites and restaurant.
Where is this mixed-use property located?
The property is located at 5013 E Washington St Phoenix, AZ.
What is the asking price?
The asking price for this property is $10,975,000.
What are key features of this property?
This property features: High‑quality, ±52,146 SF mixed‑use development in a modern, campus‑style environment.; **±92% leased to a synergistic mix of professional office users and a historic, on‑site anchor restaurant.**; **Home to Arizona’s original steakhouse, The Stockyards Restaurant, a landmark restaurant with robust and growing sales.**
