Retail Space with Secured
For Sale
Contact for pricing
914 N 24th St, Phoenix, AZ 85006
Compact retail building with warehouse functionality on a secured lot, currently occupied by Upchurch Candy.
Property Size2,344 SF
Price / SF$211.60
Days on Market305
Property Features for 914 N 24th St
General Information
Standard status
Active
Size
2,344 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
Coldwell Banker Commercial Realty | Phoenix
(602) 954-6888
Listed By:
Cathy Fox Gundersen
(602) 316-7978
Source:
Moodyscre
Added: Nov 14, 2025
Changed: Sep 12
Last Checked: Sep 15 at 10:44AM
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 Coldwell Banker Commercial Realty | Phoenix
Investment Insights
Based on property information with market context.
This retail space includes warehouse functionality and is housed in a 2,344 SF building on a secured lot. The space is currently home to Upchurch Candy.
Located at 914 N 24th St in Phoenix, AZ 85006, the property offers easy access to I-10 and Loop 202, supporting convenient movement for day-to-day operations.
The compact size and secured-lot setup may appeal to users seeking a small footprint with practical back-of-house capability for storage and distribution needs.
Located at 914 N 24th St in Phoenix, AZ 85006, the property offers easy access to I-10 and Loop 202, supporting convenient movement for day-to-day operations.
The compact size and secured-lot setup may appeal to users seeking a small footprint with practical back-of-house capability for storage and distribution needs.
Key Highlights
- 2,344 SF retail building with warehouse functionality
- Secured lot
- Currently home to Upchurch Candy
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
$26,492
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
5.34%
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%
$529,840
$529.8K
Cap Rate 7%
$378,457
$378.5K
Cap Rate 9%
$294,356
$294.4K
Market Conditions
NOI Build-Up for 2,344 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
$42.2K $18.00/SF
− Vacancy
−$4.3K −$1.85/SF
EGI
$37.8K $16.15/SF
− OpEx
−$11.4K −$4.84/SF
NOI
$26.5K $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%
$529,840
Cap Rate 7%
$378,457
Cap Rate 9%
$294,356
Alternative Uses
Best Use
Retail
$378.5K
$331.2K – $441.5K
NOI $26,492 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$710.0K
$621.3K – $828.4K
NOI $49,701 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 85006, AZ
23,797
Population
10,607
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
5,949
Density / Sq Mi
$60,742
Median Household Income
$39,899
Median Earnings
$1,168
Median Rent
$376,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Retail space - Compact retail building with warehouse functionality on a secured lot, currently occupied by Upchurch Candy.
Where is this retail space located?
The property is located at 914 N 24th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $496,000.
What are key features of this property?
This property features: 2,344 SF retail building with warehouse functionality; Secured lot; Currently home to Upchurch Candy
