Retail Strip Mall
For Sale
$4,795,000
6450 E CAVE CREEK Road, Cave Creek, AZ 85331
Retail strip mall located just east of School House Road on Cave Creek Road’s north side in Maricopa County.
Property Size13,762 SF
Price / SF$348.42
Days on Market150
Property Features for 6450 E CAVE CREEK Road
General Information
Standard status
Active
Size
13,762 SF
Total Parking Spaces
62
Zoning
CC
Net Operating Income
$275,000
Taxes and HOA fees
Annual Taxes
$11,948
Amenities
Public Elevator(s), Conference Room, Reception Room, Kitchen
Central Air
Heat Pump, Electric
Elevator
Parking Lot, Paved, Private
Building Details
Year Built
2001
Buildings
1
Stories
2
Listing Agency:
HomeSmart
Listed By:
Paul Scortea · License #SA656092000
(623) 326-9036
Source:
Evrealestate
Added: Apr 8
Changed: Aug 14
Last Checked: Sep 4 at 3:32AM
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 HomeSmart
Investment Insights
Based on property information with market context.
This for-sale retail strip mall property is positioned for street-facing storefront activity along Cave Creek Road. The offering is identified as a retail strip mall within the provided property type classifications.
The directions place the property just east of School House Road on the north side of Cave Creek Road in Maricopa County, Arizona.
No further details regarding suite configuration, tenant occupancy, or specific improvements were provided in the information available.
The directions place the property just east of School House Road on the north side of Cave Creek Road in Maricopa County, Arizona.
No further details regarding suite configuration, tenant occupancy, or specific improvements were provided in the information available.
Key Highlights
- Retail strip mall on the north side of Cave Creek Rd, just east of School House Road (Maricopa County).
- Built in 2001.
- Central air cooling and heat pump/electric heating.
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
$173,517
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%
$3,470,340
$3.5M
Cap Rate 7%
$2,478,814
$2.5M
Cap Rate 9%
$1,927,967
$1.9M
Market Conditions
NOI Build-Up for 13,762 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
$260.9K $18.96/SF
− Vacancy
−$13.0K −$0.95/SF
EGI
$247.9K $18.01/SF
− OpEx
−$74.4K −$5.40/SF
NOI
$173.5K $12.61/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$18.96 /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%
$3,470,340
Cap Rate 7%
$2,478,814
Cap Rate 9%
$1,927,967
Alternative Uses
Best Use
Retail
$2.48M
$2.17M – $2.89M
NOI $173,517 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.26M
$3.72M – $4.97M
NOI $297,987 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
9,216 visits/mo
0.4 miles
Circle K
Shops & Services
8,004 visits/mo
0.4 miles
Demographics for 85331, AZ
31,038
Population
13,680
Households
2.3
Avg Household Size
51
Median Age
53%
College-Educated
99%
High-School Grad
131.1 sq mi
ZIP Area
237
Density / Sq Mi
$123,710
Median Household Income
$61,542
Median Earnings
$2,535
Median Rent
$674,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip mall located just east of School House Road on Cave Creek Road’s north side in Maricopa County.
Where is this strip mall located?
The property is located at 6450 E CAVE CREEK Road Cave Creek, AZ.
What is the asking price?
The asking price for this property is $4,795,000.
What are key features of this property?
This property features: Retail strip mall on the north side of Cave Creek Rd, just east of School House Road (Maricopa County).; Built in 2001.; Central air cooling and heat pump/electric heating.
