Established Restaurant
New
For Sale
Contact for pricing
823 S Central Ave, Phoenix, AZ 85004
The existing business phone number is available for transfer to support continuity with returning customers.
Property Size4,210 SF
Price / SF$0.95
Days on Market6
Property Features for 823 S Central Ave
General Information
Standard status
Active
Size
4,210 SF
Site & Location
Neighborhood
Central City
Building Details
Year Built
1934
Listing Agency:
Realty ONE Group
Listed By:
Michael Snitz · License #SA651575000
(602) 327-2785
Source:
Searchallarizonahouses
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 25 at 2:44AM
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 Realty ONE Group
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Investment Insights
Based on property information with market context.
Built in 1934, this Phoenix restaurant property has a history of restaurant operation dating to 1945. The business was family-owned and operated across generations, and its existing phone number can transfer to a new operator, offering a practical point of continuity for returning customers.
The property is at 823 S Central Ave in downtown Phoenix, within walking distance of The Duce and Valley Metro light rail. Its restaurant setting and established history are supported by these nearby entertainment and transit options.
The property is at 823 S Central Ave in downtown Phoenix, within walking distance of The Duce and Valley Metro light rail. Its restaurant setting and established history are supported by these nearby entertainment and transit options.
Key Highlights
- Restaurant operation at the property dates to 1945
- Existing business phone number is available for transfer
- Within walking distance of The Duce and Valley Metro light rail
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,746
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,254,920
$1.3M
Cap Rate 7%
$896,371
$896.4K
Cap Rate 9%
$697,178
$697.2K
Market Conditions
NOI Build-Up for 4,210 SF
Gross rent
$90.9K $21.60/SF
− Vacancy
−$7.3K −$1.73/SF
EGI
$83.7K $19.87/SF
− OpEx
−$20.9K −$4.97/SF
NOI
$62.7K $14.90/SF
Area
Phoenix, AZ
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,254,920
Cap Rate 7%
$896,371
Cap Rate 9%
$697,178
Alternative Uses
Best Use
Specialty Retail
$896.4K
$784.3K – $1.05M
NOI $62,746 @ 7.0% cap · market cap 1,568.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,267 @ 7.0% cap · market cap 2,231.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,575
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The existing business phone number is available for transfer to support continuity with returning customers.
Where is this conventional restaurant located?
The property is located at 823 S Central Ave Phoenix, AZ.
What are key features of this property?
This property features: Restaurant operation at the property dates to 1945; Existing business phone number is available for transfer; Within walking distance of The Duce and Valley Metro light rail
