Retail Space in Peoria
For Sale
Contact for pricing
8160 N 91st Ave, Peoria, AZ 85345
Single tenant retail space with expiring lease in Peoria.
Property Size25,000 SF
Price / SF$388
Days on Market153
Property Features for 8160 N 91st Ave
General Information
Standard status
Active
Size
25,000 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Value Add
Net Operating Income
$676,892
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
LevRose Commercial Real Estate
(602) 491-9295
Listed By:
Sean Lieb · License #AZ
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 10 at 11:44AM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This 25,000-square-foot retail space is located in Peoria Crossing, anchored by Target, and surrounded by numerous national tenants. The property is currently occupied by LA Fitness under a net lease with three years remaining. Situated in a suburb of Glendale, Arizona, one of America's fastest-growing states, this property presents an opportunity for a new user or an investor with a tenant in tow.
Key Highlights
- Anchored by Target in Peoria Crossing with Numerous National Tenants
- Located in a suburb of Glendale, Arizona – One of America's Fastest Growing States
- Single Tenant Net Lease Dark LA Fitness
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
$347,288
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
3.58%
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%
$6,945,760
$6.9M
Cap Rate 7%
$4,961,257
$5.0M
Cap Rate 9%
$3,858,756
$3.9M
Market Conditions
NOI Build-Up for 25,000 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
$525.0K $21.00/SF
− Vacancy
−$28.9K −$1.16/SF
EGI
$496.1K $19.85/SF
− OpEx
−$148.8K −$5.95/SF
NOI
$347.3K $13.89/SF
Area
Peoria, AZ
Vacancy
5.50%
Lease Rate
$21.00 /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%
$6,945,760
Cap Rate 7%
$4,961,257
Cap Rate 9%
$3,858,756
Alternative Uses
Best Use
Retail
$4.96M
$4.34M – $5.79M
NOI $347,288 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.16M
$5.39M – $7.18M
NOI $430,860 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
350k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Superstores 35%
Apparel 24%
Dining 3%
Target
Superstores
122,693 visits/mo
0.3 miles
Kohl's
Apparel
56,161 visits/mo
0.2 miles
Five Below
Shops & Services
35,142 visits/mo
0.4 miles
Dollar Tree
Shops & Services
25,926 visits/mo
0.3 miles
Goodwill
Apparel
16,222 visits/mo
0.2 miles
Demographics for 85345, AZ
61,024
Population
24,273
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
4,805
Density / Sq Mi
$64,563
Median Household Income
$40,280
Median Earnings
$1,563
Median Rent
$278,300
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?
Retail space - Single tenant retail space with expiring lease in Peoria.
Where is this retail space located?
The property is located at 8160 N 91st Ave Peoria, AZ.
What is the asking price?
The asking price for this property is $9,700,000.
What are key features of this property?
This property features: Anchored by Target in Peoria Crossing with Numerous National Tenants; Located in a suburb of Glendale, Arizona – One of America's Fastest Growing States; Single Tenant Net Lease Dark LA Fitness
