Chandler Retail Condo on
For Sale
$1,950,000
6909 West Ray Road, Chandler, AZ 85226
7754 SF retail condo in high-traffic Chandler location.
Property Size14,153 SF
Price / SF$137.78
Days on Market318
Property Features for 6909 West Ray Road
General Information
Standard status
Active
Size
14,153 SF
Class
B
Total Parking Spaces
70
Property subtype
Shopping Center / Retail
Zoning
PAD
Building Details
Building Size
14,153 SF
Year Built
1999
Listing Agency:
RE/MAX
(602) 391-7164
Listed By:
Brook Miller · License #BR533974000
(602) 391-7164
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:02PM
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 RE/MAX
Investment Insights
Based on property information with market context.
This 7754 square foot retail condo is situated on a hard corner in Chandler. Currently occupied by a flooring company, a co-op owner of Flooring America, the suite features an open showroom, a large storage room, double doors, customer restrooms, and an additional employee restroom. The business is also available for sale, but the owner will vacate, making it suitable for various other uses. Multiple entrances allow the potential to split this large corner suite into multiple smaller suites. The property is located in a South Chandler location, with freeway access less than 1 mile East of the I-10. This location offers a central, high-traffic environment for any retail use.
Key Highlights
- High‑traffic, hard corner location in Chandler
- Large 7754 sq ft retail condo
- Potential to split into multiple smaller suites due to multiple entrances
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
$165,488
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
8.49%
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%
$3,309,760
$3.3M
Cap Rate 7%
$2,364,114
$2.4M
Cap Rate 9%
$1,838,756
$1.8M
Market Conditions
NOI Build-Up for 14,153 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
$254.8K $18.00/SF
− Vacancy
−$18.3K −$1.30/SF
EGI
$236.4K $16.70/SF
− OpEx
−$70.9K −$5.01/SF
NOI
$165.5K $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%
$3,309,760
Cap Rate 7%
$2,364,114
Cap Rate 9%
$1,838,756
Alternative Uses
Best Use
Retail
$2.36M
$2.07M – $2.76M
NOI $165,488 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $283,966 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
183k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 16%
Home Improvements & Furnishings 14%
In-N-Out Burger
Dining
63,299 visits/mo
0.3 miles
BJ's Restaurant and Brewhouse
Dining
29,783 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
26,162 visits/mo
0.4 miles
McDonald's
Dining
21,182 visits/mo
0.2 miles
Circle K
Shops & Services
16,134 visits/mo
0.2 miles
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.
Similar Off Market Nearby
- Lowe's Home Improvement — 7100 W Ray Rd, Chandler, AZ 85226
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Frequently Asked Questions
What type of property is this?
Showroom - 7754 SF retail condo in high-traffic Chandler location.
Where is this showroom located?
The property is located at 6909 West Ray Road Chandler, AZ.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: High‑traffic, hard corner location in Chandler; Large 7754 sq ft retail condo; Potential to split into multiple smaller suites due to multiple entrances
