Retail Property Near Loop
For Sale
$2,950,000
9501 West Peoria Avenue, Peoria, AZ 85345
Hard corner retail property with high traffic, near Loop 101.
Property Size16,470 SF
Price / SF$179.11
Days on Market318
Property Features for 9501 West Peoria Avenue
General Information
Standard status
Active
Size
16,470 SF
Class
B
Total Parking Spaces
230
Property subtype
Shopping Center / Retail
Zoning
C-2
Net Operating Income
$197,839
Building Details
Building Size
16,470 SF
Year Built
1979
Listing Agency:
RE/MAX
(602) 391-7164
Listed By:
Brook Miller · License #BR533974000
(602) 391-7164
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:43AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This retail property is located on a hard corner with high traffic count and is in close proximity to Loop 101. One suite will be available starting October 1, 2024. The property is situated in the growing downtown Peoria area, near the Westgate Entertainment District. The property size is 16470 square feet.
Key Highlights
- High traffic count location
- Hard corner retail property
- Close proximity to Loop 101
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
$228,793
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
7.76%
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%
$4,575,860
$4.6M
Cap Rate 7%
$3,268,471
$3.3M
Cap Rate 9%
$2,542,144
$2.5M
Market Conditions
NOI Build-Up for 16,470 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
$345.9K $21.00/SF
− Vacancy
−$19.0K −$1.16/SF
EGI
$326.8K $19.85/SF
− OpEx
−$98.1K −$5.95/SF
NOI
$228.8K $13.89/SF
Area
Peoria, AZ
Vacancy
5.50%
Lease Rate
$21.00 /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%
$4,575,860
Cap Rate 7%
$3,268,471
Cap Rate 9%
$2,542,144
Alternative Uses
Best Use
Retail
$3.27M
$2.86M – $3.81M
NOI $228,793 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $283,851 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
74k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 61%
Shops & Services 26%
Dining 12%
The Home Depot
Home Improvements & Furnishings
44,128 visits/mo
0.5 miles
Chase Bank
Shops & Services
7,710 visits/mo
0.3 miles
Del Taco
Dining
7,098 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,598 visits/mo
0.4 miles
Pizza Hut
Dining
2,200 visits/mo
0.5 miles
Demographics for 85345, AZ
61,024
Population
24,273
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
4,805
Density / Sq Mi
$64,563
Median Household Income
$40,280
Median Earnings
$1,563
Median Rent
$278,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Hard corner retail property with high traffic, near Loop 101.
Where is this shopping center located?
The property is located at 9501 West Peoria Avenue Peoria, AZ.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: High traffic count location; Hard corner retail property; Close proximity to Loop 101
