Two-Tenant Strip
For Sale
$2,400,000
6822 S Kings Ranch Rd, Gold Canyon, AZ 85118
Fully leased retail property with a fitness operator and café tenant along Kings Ranch Road.
Property Size7,680 SF
Price / SF$312.50
Days on Market53
Property Features for 6822 S Kings Ranch Rd
General Information
Standard status
Active
Size
7,680 SF
Property subtype
Shopping Strip
Occupancy
100%
Amenities
9-Year Weighted Average Lease Term
Built-In Annual Rent Increases | Café: 5% | Gym: 3%
10-Year Sale-Leaseback | 14-Year Operating History at This Location
Limited Local Competition
Building Details
Building Size
7,680 SF
Year Built
2007
Tenancy
Multi
Listing Agency:
Phoenix Office
(602) 687-6652
Listed By:
Tyson J. Mace · License #License(s): AZ: SA717741000
(602) 687-6652
Source:
Marcusmillichap
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 5:33AM
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 Phoenix Office
Investment Insights
Based on property information with market context.
Built in 2007, this 7,680-square-foot strip mall is fully leased to two tenants. A fitness operator occupies approximately 80% of the building and has operated at the property for more than 14 years. The remaining space is occupied by a café tenant, creating a complementary tenant mix within the center.
The property is located at 6822 S Kings Ranch Road in Gold Canyon, Arizona, along the community’s primary commercial corridor. The fitness operator is pursuing a sale-leaseback structure with a new 10-year lease at closing. The café tenant currently has a 5-year lease and is working toward a 10-year extension. Both lease arrangements provide defined occupancy terms for the existing tenancy.
The property is located at 6822 S Kings Ranch Road in Gold Canyon, Arizona, along the community’s primary commercial corridor. The fitness operator is pursuing a sale-leaseback structure with a new 10-year lease at closing. The café tenant currently has a 5-year lease and is working toward a 10-year extension. Both lease arrangements provide defined occupancy terms for the existing tenancy.
Key Highlights
- 7,680‑square‑foot strip mall built in 2007
- 100% leased to two tenants
- Fitness operator occupies approximately 80% of the building
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
$75,398
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
3.14%
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%
$1,507,960
$1.5M
Cap Rate 7%
$1,077,114
$1.1M
Cap Rate 9%
$837,756
$837.8K
Market Conditions
NOI Build-Up for 7,680 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
$115.2K $15.00/SF
− Vacancy
−$7.5K −$0.98/SF
EGI
$107.7K $14.03/SF
− OpEx
−$32.3K −$4.21/SF
NOI
$75.4K $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%
$1,507,960
Cap Rate 7%
$1,077,114
Cap Rate 9%
$837,756
Alternative Uses
Best Use
Retail
$1.08M
$942.5K – $1.26M
NOI $75,398 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,625 @ 7.0% cap · market cap 6.19%
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
312
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Best Western Gold Canyon Inn & Suites
Hotels & Casinos
2,264 visits/mo
0.1 miles
Demographics for 85118, AZ
13,044
Population
9,042
Households
1.4
Avg Household Size
66
Median Age
38%
College-Educated
94%
High-School Grad
148.7 sq mi
ZIP Area
88
Density / Sq Mi
$82,856
Median Household Income
$47,621
Median Earnings
$1,244
Median Rent
$447,000
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.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail property with a fitness operator and café tenant along Kings Ranch Road.
Where is this strip mall located?
The property is located at 6822 S Kings Ranch Rd Gold Canyon, AZ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 7,680‑square‑foot strip mall built in 2007; 100% leased to two tenants; Fitness operator occupies approximately 80% of the building
