Freestanding Restaurant with
For Sale
$1,700,000
5723 W Glendale Ave, Glendale, AZ 85301
Built-out commercial kitchen, full bar, patio seating, and Series 6 Liquor License support restaurant and bar operations.
Property Size3,853 SF
Lot Size0.22 Acres
Price / SF$441.21
Days on Market42
Property Features for 5723 W Glendale Ave
General Information
Standard status
Active
Size
3,853 SF
Lot size
0.22 Acres
Zoning
Glendale PR (Pedestrian Retail)
Taxes and HOA fees
Annual Taxes
$5,476
Building Details
Abandoned
No
Listing Agency:
R.O.I. Properties
(602) 319-1326
Listed By:
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source:
Exprealty
Added: Jun 29
Changed: Aug 9
Last Checked: Aug 9 at 4:50AM
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 R.O.I. Properties
Investment Insights
Based on property information with market context.
This freestanding restaurant building contains approximately 3,843 SF and was constructed in 1982. The interior is configured with a commercial kitchen and full bar, while patio seating faces the Glendale Avenue corridor. La Perla is the current tenant and holds a Series 6 Liquor License.
The property occupies a hard corner with frontage on both W Glendale Avenue and N 57th Drive. An adjoining approximately 3,250 SF parking lot creates a combined site of approximately 9,750 SF, or 0.22 acres, across APNs 146-02-931 and 146-02-930. City of Glendale PR (Pedestrian Retail) zoning supports restaurant, bar, and retail uses.
The property occupies a hard corner with frontage on both W Glendale Avenue and N 57th Drive. An adjoining approximately 3,250 SF parking lot creates a combined site of approximately 9,750 SF, or 0.22 acres, across APNs 146-02-931 and 146-02-930. City of Glendale PR (Pedestrian Retail) zoning supports restaurant, bar, and retail uses.
Key Highlights
- Freestanding ±3,843 SF restaurant building constructed in 1982
- Hard corner frontage on W Glendale Avenue and N 57th Drive
- Adjacent ±3,250 SF parking lot expands the combined site to ±9,750 SF
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
$51,599
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
3.04%
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%
$1,031,980
$1.0M
Cap Rate 7%
$737,129
$737.1K
Cap Rate 9%
$573,322
$573.3K
Market Conditions
NOI Build-Up for 3,853 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
$74.0K $19.20/SF
− Vacancy
−$5.2K −$1.34/SF
EGI
$68.8K $17.86/SF
− OpEx
−$17.2K −$4.46/SF
NOI
$51.6K $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 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%
$1,031,980
Cap Rate 7%
$737,129
Cap Rate 9%
$573,322
Alternative Uses
Best Use
Specialty Retail
$737.1K
$645.0K – $860.0K
NOI $51,599 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,719 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Built-out commercial kitchen, full bar, patio seating, and Series 6 Liquor License support restaurant and bar operations.
Where is this conventional restaurant located?
The property is located at 5723 W Glendale Ave Glendale, AZ.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Freestanding ±3,843 SF restaurant building constructed in 1982; Hard corner frontage on W Glendale Avenue and N 57th Drive; Adjacent ±3,250 SF parking lot expands the combined site to ±9,750 SF
