Mixed-Use Live-Work
New
For Sale
$899,500
610 E ROOSEVELT Street 140, Phoenix, AZ 85004
Street-level restaurant space combines with two levels of residential accommodations and on-site parking in Downtown Phoenix.
Property Size1,750 SF
Price / SF$514
Days on Market3
Property Features for 610 E ROOSEVELT Street 140
General Information
Standard status
Active
Size
1,750 SF
Total Parking Spaces
2
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$2,762
Amenities
2-car garage
community pool
walk-out deck
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Realty ONE Group
(602) 953-4000
Listed By:
Matthew Wright · License #SA639232000
(602) 290-2175
Source:
Exitrealty
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 7 at 4:41AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This 1,750-square-foot mixed-use property combines a street-facing storefront with residential space across two levels. The commercial component is operating as a quick-service restaurant, while the first residential level includes a bedroom and bathroom. The upper level features an updated kitchen, living room, bedroom, bathroom, and walk-out deck.
The property includes a 2-car garage and access to a community pool. Located at 610 E Roosevelt Street in Phoenix’s Downtown Arts District, the property is near dining, shopping, and downtown events. Its configuration supports owner occupancy, separate use of the commercial and residential portions, or leasing of the spaces independently, subject to applicable requirements.
The property includes a 2-car garage and access to a community pool. Located at 610 E Roosevelt Street in Phoenix’s Downtown Arts District, the property is near dining, shopping, and downtown events. Its configuration supports owner occupancy, separate use of the commercial and residential portions, or leasing of the spaces independently, subject to applicable requirements.
Key Highlights
- 1,750‑square‑foot mixed‑use property with commercial and residential components
- Street‑level storefront currently operating as a quick‑service restaurant
- Residential space spans two levels with 3 bedrooms and 2 bathrooms
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
$29,958
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
3.33%
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%
$599,160
$599.2K
Cap Rate 7%
$427,971
$428.0K
Cap Rate 9%
$332,867
$332.9K
Market Conditions
NOI Build-Up for 1,750 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
$53.8K $30.72/SF
− Vacancy
−$13.8K −$7.90/SF
EGI
$39.9K $22.82/SF
− OpEx
−$10.0K −$5.71/SF
NOI
$30.0K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /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%
$599,160
Cap Rate 7%
$427,971
Cap Rate 9%
$332,867
Alternative Uses
Best Use
Office B
$428.0K
$374.5K – $499.3K
NOI $29,958 @ 7.0% cap · market cap 3.33%
Second Best
Specialty Retail
$372.6K
$326.0K – $434.7K
NOI $26,082 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$530.1K
$463.8K – $618.4K
NOI $37,106 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level restaurant space combines with two levels of residential accommodations and on-site parking in Downtown Phoenix.
Where is this mixed-use property located?
The property is located at 610 E ROOSEVELT Street 140 Phoenix, AZ.
What is the asking price?
The asking price for this property is $899,500.
What are key features of this property?
This property features: 1,750‑square‑foot mixed‑use property with commercial and residential components; Street‑level storefront currently operating as a quick‑service restaurant; Residential space spans two levels with 3 bedrooms and 2 bathrooms
