Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    509 Mcdowell Rd Phoenix, AZ 85003-1216

    • Retail space
    • 9,042 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0008253
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Roses by the Stairs Brewing / Brewery
    • Caffe Vita Coffee Roasting / Coffee Shop / Cafe
    • Cave & Post Trading Co. / Boutique / Candle Store

    Property Details for 509 Mcdowell Rd

    Year built
    1956
    Lot size
    0.57 lot acres
    Property size
    9,042 SF
    Property type
    Retail space
    APN
    111-31-137A
    APU
    11131137A

    Description

    Easley's Center, a Class A, stabilized retail investment property located at 509 W McDowell Rd, Phoenix, AZ 85003, presents a compelling opportunity. This multi-tenant property, encompassing 13,259 square feet across two buildings on a 24,924 square foot lot, boasts 100% occupancy with seven tenants. The property features a mix of uses including restaurant, shopping center, and storefront spaces, totaling 11,959 net rentable square feet. Recently renovated in 2022, the property offers modern finishes and a distinctive design. The asking price is $5,500,000, representing a price per square foot of $414.81 and a 5.00% cap rate. The property benefits from a high-traffic location on McDowell Road, within a densely populated area with strong daytime population and income levels from nearby historic neighborhoods. Seller financing is available. The property's location provides excellent street-front exposure and is situated near the Willo and Encanto districts. This is a truly exceptional opportunity to acquire a trophy asset in a prime downtown Phoenix submarket. The property is a NNN lease type and has a Maricopa County APN of 111-31-137A.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.081
    Latitude
    33.4655
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $14,232
    $0.00
    $0.00
    $245,594
    -
    $625,500
    $1,047,622
    $1,673,122

    Comparable in this City

    • Value Estimation by Request
      9,445 SF

      114 Adams St Ste, Unit 104

      RETAIL STORES (PERSONAL SERVICES) • 9,445 SF
      114 Adams St Ste, Phoenix, AZ 85003-2015
      View Details
    • Value Estimation by Request
      12,408 SF

      316 Mcdowell Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,408 SF
      316 Mcdowell Rd, Phoenix, AZ 85003-1377
      View Details
    • Value Estimation by Request
      670 SF

      813 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 670 SF
      813 5th Ave, Phoenix, AZ 85003
      View Details
    • Value Estimation by Request
      3,960 SF

      301 Mohave St

      RETAIL STORES (PERSONAL SERVICES) • 3,960 SF
      301 Mohave St, Phoenix, AZ 85003-2743
      View Details
    • Value Estimation by Request
      3,762 SF

      44 Monroe St, Unit 105

      RETAIL STORES (PERSONAL SERVICES) • 3,762 SF
      44 Monroe St, Phoenix, AZ 85003-4553
      View Details
    • Value Estimation by Request
      3,762 SF

      44 Monroe St

      RETAIL STORES (PERSONAL SERVICES) • 3,762 SF
      44 Monroe St, Phoenix, AZ 85003-4553
      View Details

    Similar Nearby for Sale

    • $3,300,000
      13,850 SF

      Prime Location Redevelopment Opportunity

      Redevelopment opportunity in a rapidly growing urban district.
      122-126 E Washington St, Phoenix, AZ 85003
      View Details
    • $900,000

      Multi-Use Property in Phoenix

      Half-acre property suitable for office or residential use.
      313 E Palm Ln, Phoenix, AZ 85003
      View Details
    • $1,155,000

      Land in Roosevelt Row District

      Commercial land near Roosevelt Row Arts District, Phoenix, Arizona.
      833 N 2Nd Ave, Phoenix, AZ 85003
      View Details
    • $174,999
      0.14 Acres

      Phoenix Land Across From Park

      Vacant land in downtown Phoenix, ideal for development.
      340 W Yavapai St, Phoenix, AZ 85003
      View Details
    • $1,155,000
      0.24 Acres

      Downtown Phoenix Multifamily Land

      Prime 0.24-acre lot, high-density zoning.
      833 2Nd Ave, Phoenix, AZ 85003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,300 SF

      Retail Space on Roosevelt Row

      Retail opportunity in Phoenix's Roosevelt Row neighborhood.
      214 E Roosevelt St, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      2,070 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and daytime population.
      132 W Mcdowell Rd, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      3,857 SF

      Retail Space Available For Lease

      Retail space available for lease in Phoenix, Arizona.
      888 N 1St Ave, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      3,595 SF

      Retail/Office Space with Patio

      Retail or office space available for lease with outdoor patio.
      601 N 3Rd Ave, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      702 SF

      Retail Space for Lease

      Retail spaces available in Phoenix: 702, 1,062 & 4,250 SF.
      366 N 2Nd Ave, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      4,092 SF

      Downtown Phoenix Retail Space Available

      Retail space in downtown Phoenix near major attractions and transportation.
      555 N 5Th Ave, Phoenix, AZ 85003
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509 Mcdowell Rd
    Phoenix, AZ 85003-1216
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.