Phoenix Retail Space For
For Sale
Contact for pricing
Pending
5817 W Indian School Rd, Phoenix, AZ 85031
Retail space with a 5-year lease extension in Phoenix.
Property Size2,009 SF
Days on Market148
Property Features for 5817 W Indian School Rd
General Information
Standard status
Pending
Size
2,009 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$40,780
Building Details
Year Built
2002
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Hudson DeJean · License #SA704485000
Source:
Crexi
Added: Mar 18
Changed: Aug 11
Last Checked: Aug 11 at 7:43PM
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 Matthews
Investment Insights
Based on property information with market context.
This commercial property is a retail space located in Phoenix, Arizona. The property offers 2,009 square feet of space. It is currently under a NNN lease with Boost Mobile, which has recently signed a 5-year lease extension. The property is situated on a high-traffic corner.
Key Highlights
- NNN Lease Structure (Tenant responsible for property expenses)
- 5‑Year Lease Extension
- High‑Traffic Location**
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
$22,706
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
3.62%
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%
$454,120
$454.1K
Cap Rate 7%
$324,371
$324.4K
Cap Rate 9%
$252,289
$252.3K
Market Conditions
NOI Build-Up for 2,009 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
$36.2K $18.00/SF
− Vacancy
−$3.7K −$1.85/SF
EGI
$32.4K $16.15/SF
− OpEx
−$9.7K −$4.84/SF
NOI
$22.7K $11.30/SF
Area
Phoenix, AZ
Vacancy
10.30%
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%
$454,120
Cap Rate 7%
$324,371
Cap Rate 9%
$252,289
Alternative Uses
Best Use
Retail
$324.4K
$283.8K – $378.4K
NOI $22,706 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$608.5K
$532.5K – $710.0K
NOI $42,598 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 85031, AZ
31,162
Population
8,816
Households
3.5
Avg Household Size
29
Median Age
8%
College-Educated
64%
High-School Grad
4.1 sq mi
ZIP Area
7,600
Density / Sq Mi
$59,641
Median Household Income
$36,097
Median Earnings
$1,503
Median Rent
$240,300
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with a 5-year lease extension in Phoenix.
Where is this retail space located?
The property is located at 5817 W Indian School Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $627,000.
What are key features of this property?
This property features: NNN Lease Structure (Tenant responsible for property expenses); 5‑Year Lease Extension; High‑Traffic Location**
