Freestanding Retail
For Sale
$595,000
9103 N CENTRAL Avenue, Phoenix, AZ 85020
Freestanding masonry and tilt-up retail building on a C-2 zoned lot with direct frontage and shell-condition interior.
Property Size3,750 SF
Lot Size0.24 Acres
Price / SF$158.67
Days on Market35
Property Features for 9103 N CENTRAL Avenue
General Information
Standard status
Active
Size
3,750 SF
Lot size
0.24 Acres
Property subtype
Commercial/Industrial
Zoning
C-2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,056
Building Details
Year Built
1963
Listing Agency:
R.O.I. Properties
(602) 396-8004
Listed By:
Aaron Gutierrez · License #SA698660000
(602) 396-8004
Source:
Exitrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 12:55PM
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 R.O.I. Properties
Investment Insights
Based on property information with market context.
Freestanding commercial building totaling approximately 3,750 SF, originally constructed in 1963 with masonry and reinforced-concrete tilt-up construction. The property is currently vacant and offered in shell condition, with the interior substantially gutted and exposed structural framing. High ceilings, clerestory natural light, and partial structural reinforcement already in place help support flexible adaptive reuse.
The building sits on a 10,484 SF (0.241-acre) C-2 zoned lot with direct frontage along North Central Avenue in the Sunnyslope submarket of Central Phoenix.
With its freestanding layout, shell-condition interior, and already-present structural elements, the property is suited to owner-user occupancy, adaptive reuse, or redevelopment consistent with C-2 zoning.
The building sits on a 10,484 SF (0.241-acre) C-2 zoned lot with direct frontage along North Central Avenue in the Sunnyslope submarket of Central Phoenix.
With its freestanding layout, shell-condition interior, and already-present structural elements, the property is suited to owner-user occupancy, adaptive reuse, or redevelopment consistent with C-2 zoning.
Key Highlights
- 3,750 SF freestanding commercial building on a 0.241‑acre (10,484 SF) C‑2 zoned lot
- Direct frontage along North Central Avenue in Central Phoenix (Sunnyslope submarket)
- Shell‑condition interior with substantial gut and exposed structural framing
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
$42,383
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
7.12%
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%
$847,660
$847.7K
Cap Rate 7%
$605,471
$605.5K
Cap Rate 9%
$470,922
$470.9K
Market Conditions
NOI Build-Up for 3,750 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
$67.5K $18.00/SF
− Vacancy
−$7.0K −$1.85/SF
EGI
$60.5K $16.15/SF
− OpEx
−$18.2K −$4.84/SF
NOI
$42.4K $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%
$847,660
Cap Rate 7%
$605,471
Cap Rate 9%
$470,922
Alternative Uses
Best Use
Retail
$605.5K
$529.8K – $706.4K
NOI $42,383 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$993.9K – $1.33M
NOI $79,514 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,960
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Casa Blanca Tinted Flowers — 9303 N 7th St Suite 2, Phoenix, AZ 85020
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding masonry and tilt-up retail building on a C-2 zoned lot with direct frontage and shell-condition interior.
Where is this storefront property located?
The property is located at 9103 N CENTRAL Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,750 SF freestanding commercial building on a 0.241‑acre (10,484 SF) C‑2 zoned lot; Direct frontage along North Central Avenue in Central Phoenix (Sunnyslope submarket); Shell‑condition interior with substantial gut and exposed structural framing
