C-1 Zoned Retail Office
506 E Southern Ave Phoenix, AZ 85040
506 E Southern Ave, Phoenix, AZ, 85040
$600,000
For Sale
$600,000
C-1 zoned commercial property with Southern Ave frontage and a detached apartment accessed by an alley.
Property Size2,125 SF
Price / SF$282.35
Days on Market188
Property Features for 506 E Southern Ave
General Information
- Standard status
- Active
- Size
- 2,125 SF
Listing agency
Casa De Guerrero Realty
(602) 550-6341
Listed by
Jeff Guerrero
(602) 550-6341
Source
Exprealty
Added: Jan 14 Updated: Jul 20 at 5:38PM Checked: Jul 20 at 5:38PM
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 Casa De Guerrero Realty
Investment Insights
Based on property information with market context.
This C-1 zoned commercial property is currently operating as a recording studio with long-term month-to-month tenants. The property includes a detached apartment in the back with alley access, supporting flexible on-site arrangements.
The building has Southern Ave frontage, providing exposure along the avenue. Permitted uses noted in the remarks include small retail, personal services, offices, and daycare.
An ownership opportunity is presented as well as owner-occupied or tenant-occupied planning, with an option structure referenced as OWC with 35% down in the remarks.
The building has Southern Ave frontage, providing exposure along the avenue. Permitted uses noted in the remarks include small retail, personal services, offices, and daycare.
An ownership opportunity is presented as well as owner-occupied or tenant-occupied planning, with an option structure referenced as OWC with 35% down in the remarks.
Key Highlights
- C‑1 zoned commercial property with frontage on Southern Ave
- Currently used as a recording studio with long‑term month‑to‑month tenants
- Permitted uses include small retail, personal services, offices, and daycare
Local Financial Insights For Office B
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 | $65.3k | $30.72 |
| − Vacancy | −$16.8k | −$7.90 |
| EGI | $48.5k | $22.82 |
| − OpEx | −$12.1k | −$5.71 |
| NOI | $36.4k | $17.12 |
2,125 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$519.7K
$454.7K – $606.3K
NOI $36,377 @ 7.0% cap · market cap 6.06%
Second Best
Retail
$343.1K
$300.2K – $400.3K
NOI $24,017 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$643.7K
$563.2K – $751.0K
NOI $45,058 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Martinez Computer Repair
Computer & Electronic Repair
wideawakerecordings
Recording Studio
Similar For Sale Nearby
Similar Off Market Nearby
- Juliet's Bouquets — Phoenix, AZ 85041
- Melody's Flower Shop Llc — 5837 S Central Ave, Phoenix, AZ 85040
- Kori & Ana Flowers — 698 E Southern Ave, Phoenix, AZ 85040
FAQs
What type of property is this?
Storefront property - C-1 zoned commercial property with Southern Ave frontage and a detached apartment accessed by an alley.
Where is this storefront property located?
The property is located at 506 E Southern Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: C‑1 zoned commercial property with frontage on Southern Ave; Currently used as a recording studio with long‑term month‑to‑month tenants; Permitted uses include small retail, personal services, offices, and daycare
