Corner Storefront Property with Monument
For Sale
Contact for pricing
623 East Florence Boulevard, Casa Grande, AZ 85122
Freestanding commercial building with paved parking, multiple access points, and separately metered suites.
Property Size5,970 SF
Price / SF$318.26
Days on Market8
Property Features for 623 East Florence Boulevard
General Information
Standard status
Active
Size
5,970 SF
Property subtype
Retail, Mixed Use
Lease Type
NNN
Site & Location
Corner Location
Yes
Road Access
Yes
Amenities
tall monument sign
modern interiors
Building Details
Year Built
1975
Listing Agency:
KW Keeler Williams
(520) 251-1034
Listed By:
Jeril Benedict · License #AZ SA559234000
Source:
Crexi
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 18 at 12:27PM
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 KW Keeler Williams
Investment Insights
Based on property information with market context.
This 5,970-square-foot storefront property was built in 1975 and includes 2,322 square feet available for NNN lease. The building features modern interiors, separately metered suites, paved parking, and a tall monument sign. An owner leaseback of a portion of the property is also available.
The property occupies the corner of East Florence Boulevard and Brown Avenue, with multiple access points and surrounding commercial activity. Its storefront configuration supports retail and other commercial uses consistent with the property’s classification.
The property occupies the corner of East Florence Boulevard and Brown Avenue, with multiple access points and surrounding commercial activity. Its storefront configuration supports retail and other commercial uses consistent with the property’s classification.
Key Highlights
- 5,970‑square‑foot storefront property built in 1975
- 2,322 square feet available for NNN lease
- Corner location at East Florence Boulevard and Brown Avenue
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
$58,610
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
3.08%
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%
$1,172,200
$1.2M
Cap Rate 7%
$837,286
$837.3K
Cap Rate 9%
$651,222
$651.2K
Market Conditions
NOI Build-Up for 5,970 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
$89.6K $15.00/SF
− Vacancy
−$5.8K −$0.98/SF
EGI
$83.7K $14.03/SF
− OpEx
−$25.1K −$4.21/SF
NOI
$58.6K $9.82/SF
Area
Pinal County, AZ
Vacancy
6.50%
Lease Rate
$15.00 /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%
$1,172,200
Cap Rate 7%
$837,286
Cap Rate 9%
$651,222
Alternative Uses
Best Use
Retail
$837.3K
$732.6K – $976.8K
NOI $58,610 @ 7.0% cap · market cap 3.08%
Second Best
Mixed Use
$610.0K
$533.7K – $711.7K
NOI $42,699 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,533 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
265k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Superstores 45%
Home Improvements & Furnishings 5%
Hotels & Casinos 2%
Walmart
Superstores
119,934 visits/mo
0.4 miles
Whataburger
Dining
26,253 visits/mo
0.2 miles
Texas Roadhouse
Dining
24,387 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
17,498 visits/mo
0.3 miles
Panda Express
Dining
16,304 visits/mo
0.4 miles
Demographics for 85122, AZ
55,063
Population
24,238
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
56.4 sq mi
ZIP Area
976
Density / Sq Mi
$64,243
Median Household Income
$38,679
Median Earnings
$1,289
Median Rent
$242,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Roseluv — 417 N Florence St, Casa Grande, AZ 85122
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial building with paved parking, multiple access points, and separately metered suites.
Where is this storefront property located?
The property is located at 623 East Florence Boulevard Casa Grande, AZ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,970‑square‑foot storefront property built in 1975; 2,322 square feet available for NNN lease; Corner location at East Florence Boulevard and Brown Avenue
