Property profile

18402 19th Ave Phoenix, AZ 85023

OFF-MARKET
Strip malls
Property ID
US07-1196796
10,000 SF 8.4 ac lot Built 1976
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Union Plaza, a thriving grocery-anchored shopping center in Phoenix, Arizona, presents a prime retail opportunity. This 98,701 square foot center, built in 1977 and renovated in 2007, boasts a strong tenant mix including a 56,594 square foot Fry's Food & Drug as its anchor. Additional national tenants such as Ace Hardware, Great Clips, Little Caesar's Pizza, H&R Block, and Cricket Wireless contribute to a robust and stable occupancy. Currently, 5,700 square feet of retail space is available, ideal for a variety of businesses. One space of 2,500 square feet is immediately available. Located at 18402 N 19th Ave, Phoenix, AZ 85023, the center benefits from a highly trafficked intersection and exceptional demographics. The surrounding area within a 3-mile radius is densely populated, with over 145,000 residents and an average household income exceeding $75,000, providing a strong customer base. This property offers a unique chance to establish a presence in a well-established and successful retail center within a high-demand market in Maricopa County. The property's strong anchor tenants and location in a densely populated area with high household incomes make it an attractive investment opportunity.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1976
Construction CONCRETE
Total area 10,000 SF
Lot 8.4 ac (365,860 SF)
Zoning code C-2
APN 208-05-004D
UPID US07-1196796

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • HVAC Service General Contractor
  • Landscaping General Contractor
  • Marketing & Advertising
  • General Contractor Renovation Specialist
  • Courier Service Postal Service

Location

18402 19th Ave Phoenix, AZ 85023-1361
Phoenix metro Census 618600 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.60M
Blend (final) Blend
$4.36M

Owner & transaction history

since 2018
2 recorded transactions
2018
$15.2M
2013
Price N/A

Zoning & alternative use

C-2 · Phoenix, AZ
Zoning description

The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district

General category COMMERCIAL
Top alternative use upside
Commercial (general) $7.0M +173.6%
Restaurant $5.3M +109.8%
Auto repair, garage $4.2M +66.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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