Ethnic Grocery-Anchored Shopping
For Sale
Contact for pricing
6730 West Indian School Road, Phoenix, AZ 85033
Fully leased retail center with prominent corner positioning, multiple access points, and strong exposure to daily commuter traffic.
Property Size86,929 SF
Price / SF$149.55
Days on Market14
Property Features for 6730 West Indian School Road
General Information
Standard status
Active
Size
86,929 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Corner Location
Yes
Building Details
Tenancy
Multi
Listing Agency:
CBRE - Phoenix
Listed By:
Tristan Larsen · License #SA722304000
Source:
Crexi
Added: Aug 25
Changed: Sep 5
Last Checked: Sep 7 at 6:22AM
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 CBRE - Phoenix
Investment Insights
Based on property information with market context.
Star Plaza is a grocery-anchored shopping center comprising approximately 86,929 square feet and reported as 100% occupied. The center occupies a prominent corner with multiple access points, supporting convenient entry for shoppers and visibility from both intersecting streets. Its tenant mix is anchored by an ethnic grocery operator within an established retail corridor.
The property is positioned at 67th Avenue and Indian School Road in West Phoenix. The intersection records more than 86,000 vehicles per day, including approximately 41,972 vehicles per day on 67th Avenue and 44,264 vehicles per day on Indian School Road. The surrounding trade area includes approximately 226,762 residents and 65,902 households within 3 miles, with a daytime population of 163,670. Within 5 miles, the population reaches nearly 460,878 residents supported by 139,785 households.
The property is positioned at 67th Avenue and Indian School Road in West Phoenix. The intersection records more than 86,000 vehicles per day, including approximately 41,972 vehicles per day on 67th Avenue and 44,264 vehicles per day on Indian School Road. The surrounding trade area includes approximately 226,762 residents and 65,902 households within 3 miles, with a daytime population of 163,670. Within 5 miles, the population reaches nearly 460,878 residents supported by 139,785 households.
Key Highlights
- Approximately 86,929 square feet of retail center space
- 100% occupied shopping center
- Ethnic grocery anchor
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
$1,002,204
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
7.71%
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%
$20,044,080
$20.0M
Cap Rate 7%
$14,317,200
$14.3M
Cap Rate 9%
$11,135,600
$11.1M
Market Conditions
NOI Build-Up for 86,929 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
$1.46M $16.80/SF
− Vacancy
−$124.1K −$1.43/SF
EGI
$1.34M $15.37/SF
− OpEx
−$334.1K −$3.84/SF
NOI
$1.00M $11.53/SF
Area
ZIP 85033
Vacancy
8.50%
Lease Rate
$16.80 /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%
$20,044,080
Cap Rate 7%
$14,317,200
Cap Rate 9%
$11,135,600
Alternative Uses
Best Use
Specialty Retail
$14.32M
$12.53M – $16.70M
NOI $1,002,204 @ 7.0% cap · market cap 7.71%
Second Best
Retail
$11.70M
$10.23M – $13.65M
NOI $818,741 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$24.91M
$21.80M – $29.07M
NOI $1,743,901 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85033, AZ
57,980
Population
16,691
Households
3.5
Avg Household Size
28
Median Age
7%
College-Educated
65%
High-School Grad
6.1 sq mi
ZIP Area
9,505
Density / Sq Mi
$60,749
Median Household Income
$33,782
Median Earnings
$1,338
Median Rent
$245,900
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?
Shopping center - Fully leased retail center with prominent corner positioning, multiple access points, and strong exposure to daily commuter traffic.
Where is this shopping center located?
The property is located at 6730 West Indian School Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: Approximately 86,929 square feet of retail center space; 100% occupied shopping center; Ethnic grocery anchor
