Two Freestanding Retail
For Sale
Contact for pricing
7080 North 19th Avenue, Phoenix, AZ 85021
Two freestanding retail buildings on separate parcels at a signalized corner, with one absolute-NNN tenant and one vacant building.
Property Size6,695 SF
Price / SF$274.83
Days on Market22
Property Features for 7080 North 19th Avenue
General Information
Standard status
Active
Size
6,695 SF
Class
B
Property subtype
Retail
Zoning
C-3, City of Phoenix
Investment Type
Owner/User
Building Details
Year Built
2008
Buildings
1
Units
1
Listing Agency:
Lee & Associates - Arizona
Listed By:
John Esslinger · License #AZ SA686454000
Source:
Crexi
Added: Jul 22
Changed: Aug 8
Last Checked: Aug 12 at 12:13PM
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 Lee & Associates - Arizona
Investment Insights
Based on property information with market context.
Lee & Associates presents two freestanding retail buildings totaling approximately 120,664 SF on separate parcels. Built in 2008 and situated on about 1.95 acres, the offering includes a 13,969 SF building at 1940 W Glendale Avenue with in-place absolute-NNN income from Urgent Care Extra, and a 6,695 SF building at 7080 N 19th Avenue that is currently vacant. Both buildings provide an owner-user and redevelopment path, and they can be offered together or individually.
The property is located on a signalized hard corner in established West Phoenix with approximately 432 feet of frontage along Glendale and 19th Avenues. The site is described as having flexible C-3 zoning in a dense infill setting.
With one occupied building and one vacant building, the configuration supports multiple options for occupancy, leasing, or reconfiguration under the existing C-3 zoning framework.
The property is located on a signalized hard corner in established West Phoenix with approximately 432 feet of frontage along Glendale and 19th Avenues. The site is described as having flexible C-3 zoning in a dense infill setting.
With one occupied building and one vacant building, the configuration supports multiple options for occupancy, leasing, or reconfiguration under the existing C-3 zoning framework.
Key Highlights
- Two freestanding retail buildings totaling 20,664 SF on separate parcels in West Phoenix, built in 2008
- Larger 13,969 SF building at 1940 W Glendale Ave includes in‑place absolute‑NNN income from Urgent Care Extra
- Smaller 6,695 SF building at 7080 N 19th Ave is vacant, offering flexibility to occupy or lease
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
$75,668
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
4.11%
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%
$1,513,360
$1.5M
Cap Rate 7%
$1,080,971
$1.1M
Cap Rate 9%
$840,756
$840.8K
Market Conditions
NOI Build-Up for 6,695 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
$120.5K $18.00/SF
− Vacancy
−$12.4K −$1.85/SF
EGI
$108.1K $16.15/SF
− OpEx
−$32.4K −$4.84/SF
NOI
$75.7K $11.30/SF
Area
Phoenix, AZ
Vacancy
10.30%
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%
$1,513,360
Cap Rate 7%
$1,080,971
Cap Rate 9%
$840,756
Alternative Uses
Best Use
Retail
$1.08M
$945.9K – $1.26M
NOI $75,668 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,958 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Explore this area
Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
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?
Retail space - Two freestanding retail buildings on separate parcels at a signalized corner, with one absolute-NNN tenant and one vacant building.
Where is this retail space located?
The property is located at 7080 North 19th Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,840,000.
What are key features of this property?
This property features: Two freestanding retail buildings totaling 20,664 SF on separate parcels in West Phoenix, built in 2008; Larger 13,969 SF building at 1940 W Glendale Ave includes in‑place absolute‑NNN income from Urgent Care Extra; Smaller 6,695 SF building at 7080 N 19th Ave is vacant, offering flexibility to occupy or lease
