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6170 W Chandler Boulevard, Chandler, AZ 85226
PAD-zoned retail property featuring multiple tenant spaces in an established Chandler commercial corridor.
Property Size23,761 SF
Lot Size1.94 Acres
Price / SF$247.04
Days on Market98
Property Features for 6170 W Chandler Boulevard
General Information
Standard status
Active
Size
23,761 SF
Lot size
1.94 Acres
Property subtype
Retail
Zoning
PAD, City of Chandler
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$434,446
Building Details
Year Built
2002
Buildings
1
Tenancy
Multi
Listing Agency:
Velocity Retail Group
(602) 282-8110
Listed By:
Eli Castronova · License #AZ SA675549000
Source:
Crexi
Added: May 26
Changed: Aug 30
Last Checked: Aug 30 at 10:56AM
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 Velocity Retail Group
Investment Insights
Based on property information with market context.
This shopping center comprises a 23,761 SF multi-tenant shops building on an improved +/- 1.94 ac parcel. Constructed in 2002, the property is currently 85% leased and offers a retail configuration with multiple occupiable spaces.
Located at 6170 W Chandler Boulevard in Chandler, Arizona, the property carries PAD zoning under the City of Chandler. Its retail-oriented building format and existing lease occupancy provide a defined commercial asset profile for evaluation.
Located at 6170 W Chandler Boulevard in Chandler, Arizona, the property carries PAD zoning under the City of Chandler. Its retail-oriented building format and existing lease occupancy provide a defined commercial asset profile for evaluation.
Key Highlights
- 23,761 SF multi‑tenant shops building
- 85% leased
- Improved +/- 1.94 ac parcel
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
$277,833
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
4.73%
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%
$5,556,660
$5.6M
Cap Rate 7%
$3,969,043
$4.0M
Cap Rate 9%
$3,087,033
$3.1M
Market Conditions
NOI Build-Up for 23,761 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
$427.7K $18.00/SF
− Vacancy
−$30.8K −$1.30/SF
EGI
$396.9K $16.70/SF
− OpEx
−$119.1K −$5.01/SF
NOI
$277.8K $11.69/SF
Area
Chandler, AZ
Vacancy
7.20%
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%
$5,556,660
Cap Rate 7%
$3,969,043
Cap Rate 9%
$3,087,033
Alternative Uses
Best Use
Retail
$3.97M
$3.47M – $4.63M
NOI $277,833 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.81M
$5.96M – $7.95M
NOI $476,741 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85226, AZ
40,689
Population
17,406
Households
2.3
Avg Household Size
38
Median Age
50%
College-Educated
96%
High-School Grad
38.4 sq mi
ZIP Area
1,060
Density / Sq Mi
$103,740
Median Household Income
$58,515
Median Earnings
$1,785
Median Rent
$452,400
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.
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Frequently Asked Questions
What type of property is this?
Shopping center - PAD-zoned retail property featuring multiple tenant spaces in an established Chandler commercial corridor.
Where is this shopping center located?
The property is located at 6170 W Chandler Boulevard Chandler, AZ.
What is the asking price?
The asking price for this property is $5,870,000.
What are key features of this property?
This property features: 23,761 SF multi‑tenant shops building; 85% leased; Improved +/- 1.94 ac parcel
