Property profile

21043 N Cave Creek Rd Phoenix, AZ 85024

FOR LEASE
Strip malls
Property ID
US07-3479673
40,713 SF 1.06 ac lot Built 2002
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 41,000 square foot Class B medical retail center, built in 2000 and renovated in 2015, presents a unique investment opportunity in Maricopa County. Situated on a 5-acre lot with convenient access to Loop 101, the property boasts 18 suites, offering flexible space options ranging from a minimum of 1,340 square feet to a maximum contiguous space of 5,257 square feet. Currently, 6,597 square feet are available for lease, providing immediate occupancy potential for multiple tenants. The center benefits from ample parking with 40 spaces and prominent monument signage, ensuring high visibility and attracting a substantial customer base. The location is strategically positioned on Cave Creek Road, near Phoenix, Arizona, within a thriving area characterized by high average household incomes exceeding $75,000 within a 3-mile radius. This prime location, combined with the presence of established national and local tenants, creates a robust and attractive environment for new businesses. The property's blend of established tenancy and available space offers a compelling opportunity for growth and expansion within a dynamic market. The single building structure provides efficient management and streamlined operations.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2002
Construction CONCRETE
Total area 40,713 SF
Lot 1.06 ac (46,025 SF)
Zoning code C-2
APN 213-10-025
UPID US07-3479673

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
  • Insurance Agency
  • Take-out & Catering
  • Nail Salon
  • Real Estate Agency
  • Hair Salon

Location

21043 N Cave Creek Rd Phoenix, AZ 85024
Phoenix metro Census 617001 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
$9.34M
Comparable Approach Comparable
$11.97M
Blend (final) Blend
$7.23M

Owner & transaction history

since 2025
Last sale
$7.1M
7 recorded transactions
2025
$7.1M
2022
Price N/A
2021
$6.0M
2018
Price N/A
2013
$5.6M
2009
Price N/A
2006
$8.5M

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
Office building $12.2M +17.9%
Retail stores $12.1M +17.1%
Medical building $10.8M +4.3%

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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