4631 7th Ave Phoenix, AZ 85013-2755

Property Details for 4631 7th Ave

Year built

1943

Construction

CONCRETE

Lot size

0.21 lot acres

Property size

2,245 SF

Zone code

C-G

Property type

Bars

Property subtype

Pubs

APN

155-34-039B

APU

15534039B

Description

This Phoenix, Arizona retail investment presents a compelling opportunity. The property, located at 4631 N 7th Ave, consists of two buildings totaling 3,239 net rentable square feet on a 0.41-acre lot (APN: 155-34-039B & 155-34-034) with C-3 zoning. Currently, it features two tenants under a newly executed NNN lease with a 4.5-year remaining term (commencing May 16, 2024, and expiring May 15, 2029), offering a 6.89% pro-forma cap rate and $96,156 in pro-forma NOI. The lease includes two five-year renewal options with 4% annual rent bumps. The property boasts strong demographics, with average household incomes exceeding $86,000 and over $7 billion in consumer spending within a 5-mile radius. High traffic counts exceeding 130,000 vehicles per day are present at the 7th Avenue & Coolidge Street intersection, further enhanced by proximity to Camelback Road and Indian School Road. The location is within a dense retail corridor, less than a mile from Uptown Plaza. Significant multifamily development is underway within a 5-mile radius, including over 13,000 units under construction, presenting additional redevelopment potential for the adjacent vacant 0.2-acre parcel. The asking price is $1,395,000, with a land value of $77.56 per square foot. This property offers a blend of immediate income and significant long-term growth potential.