5161 W Thunderbird Rd, Glendale, AZ 85306

Building Details

Tenancy Single More

Listing Agency: Western Retail Advisors Arizona

Listed By: Katie Weeks · License AZ SA630590000 Show Phone

Source: Crexi

Added: Sep 17 Changed: Nov 10 Last Checked: Nov 12 at 8:33AM

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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 Western Retail Advisors Arizona

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Investment Insights

Based on property information with market context.

This freestanding restaurant property includes approximately 6,663 square feet of second-generation restaurant improvements on an approximately 0.82-acre parcel. The site does not share shopping-center common-area obligations, and the restaurant improvements remain in place for a future operator or alternative use.

The property is adjacent to ASU West Campus and near Banner Thunderbird Medical Center. Nearby national tenants include Fry’s, Chick-fil-A, Raising Cane’s, Five Brew, Chipotle, and EOS Fitness.

Key Highlights

• Approximately 6,663 SF of second‑generation restaurant improvements
• Approximately 0.82‑acre parcel
• Freestanding site with no shared shopping‑center CAM expenses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$89,231

Cap Rate

3.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,784,620 $1.8M

Cap Rate 7%

$1,274,729 $1.3M

Cap Rate 9%

$991,456 $991.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,663 SF

Gross rent

$127.9K $19.20/SF

− Vacancy

−$9.0K −$1.34/SF

EGI

$119.0K $17.86/SF

− OpEx

−$29.7K −$4.46/SF

NOI

$89.2K $13.39/SF

Area

Glendale, AZ

Vacancy

7.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,784,620

Cap Rate 7%

$1,274,729

Cap Rate 9%

$991,456

Alternative Uses

Best Use

Specialty Retail

$1.27M

$1.12M – $1.49M (±1% cap)

NOI $89,231 @ 7.0% cap · market cap 3.80%

Second Best

Retail

$1.10M

$960.2K – $1.28M (±1% cap)

NOI $76,818 @ 7.0% cap · market cap 3.27%

Theoretical Best

Office A

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,505 @ 7.0% cap · market cap 6.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Denny's Restaurant The Burger Den Restaurant The Meltdown Restaurant Bearly Awake Networking ... Business Networking Company

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Building Supply (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,498

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 85306, AZ

25,663

Population

9,587

Households

2.7

Avg Household Size

38

Median Age

24%

College-Educated

91%

High-School Grad

5.9 sq mi

ZIP Area

4,350

Density / Sq Mi

$82,060

Median Household Income

$41,596

Median Earnings

$1,666

Median Rent

$342,000

Median Home Value

Market

Average Price Trend$/SF for Conventional restaurants in Maricopa County, AZ

$605 Jul

$354 Aug

$319 Sep

$381 Oct

Properties on Market for Conventional restaurants in Maricopa County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Existing restaurant improvements offer a defined configuration for continued food-service use.

Where is this conventional restaurant located?

The property is located at 5161 W Thunderbird Rd Glendale, AZ.

What is the asking price?

The asking price for this property is $2,350,000.

What are key features of this property?

This property features: Approximately 6,663 SF of second‑generation restaurant improvements; Approximately 0.82‑acre parcel; Freestanding site with no shared shopping‑center CAM expenses