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    FOR SALE
    Strip malls

    2438 E Mcdowell Rd, Phoenix, AZ 85008

    14,996 SF 0.87 ac lot Built 1953
    Individually Owned 3-yr Hold Free & Clear
    Property ID
    US07-2655871
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a 4,100 square foot, partially remodeled adult entertainment club in Phoenix, Arizona's Arcadia area, near Scottsdale. Located on busy McDowell Road, this property benefits from high visibility and traffic, being less than a mile from two major highways and near a busy intersection. The building boasts 50 parking spaces and is grandfathered with C2 zoning. The significant advantage is its possession of a rare Series 6 liquor license (beer, wine, and liquor), one of only 27 in Arizona. The HVAC, bathrooms, and electrical systems are complete, with minimal finishing required (estimated $20,000-$50,000). A long-term lease is in place until December 30th, 2037, with a favorable rent of approximately $1 per square foot, subject to a 3% annual increase. The property offers potential for expansion into adjacent space. Seller financing is available for qualified buyers. Asking price: $800,000. This is a unique opportunity to acquire a well-situated, established business with significant growth potential in a high-demand market.

    Property profile
    Verified
    Property type Strip malls
    Use group SHOPPING CENTER, STRIP CENTER
    Year built 1953
    Construction CONCRETE
    Total area 14,996 SF
    Lot 0.87 ac (37,854 SF)
    Zoning code C-2
    APN 120-39-031
    UPID US07-2655871
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Premier Restaurant Supply and Service LLC Big Box & Wholesale Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.31M
    Blend (final) Blend
    $1.93M
    Owner & transaction history
    Ramzi Dugum · 3 yrs held
    Ramzi Dugum
    since 2022
    Last sale
    $1.8M
    7 recorded transactions
    2025
    2022
    2022
    $1.8M
    2022
    2013
    $442,000
    2011
    2011
    $801,781
    Zoning & alternative use
    C-2 · Phoenix, AZ
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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