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3502 Greenway Rd Phoenix, AZ 85053-3847

OFF-MARKET Strip malls Google Maps
30,938 SF 2.62 ac lot Built 1982
Individually Owned 5-yr Hold Free & Clear
Estimated value (blended)
$850k
Range $765k – $935k (±10%)
Property ID US07-0885814

Property summary

AI-generated overview

This thriving beauty salon in Phoenix, Arizona, presents a fantastic owner-user or hands-off investment opportunity. Located at 3502 W Greenway Rd, 85053, this 1,200 square foot space boasts five hair stylist stations and one nail technician station. The business is established in a prime Northwest Valley location with a strong track record. Currently operating under a leasehold ownership structure, the asking price is $15,000. The current lease is a 5-year NNN (Triple Net) lease with a remaining term of 5 years. The monthly rent is $1200, with additional NNN expenses of $532 per month. The landlord has indicated a willingness to extend the lease for another three to five years to a qualified tenant. Lease terms are negotiable. The price per square foot is $20.83. This is a walk-by-only opportunity; please do not disturb business operations. This asset sale is ideal for an owner-operator seeking an established business or an investor looking for a hands-off approach with a manager already in place. The property is situated in Maricopa County.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1982
Construction CONCRETE
Total area 30,938 SF
Lot 2.62 ac (114,258 SF)
Zoning code C-2
APN 207-15-027C
UPID US07-0885814

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
  • Restaurant
  • Veterinary Clinic
  • (Bike/Boat/Book/etc) Store
  • Bakery Specialty Food Shop
  • Hair Salon

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.95M
Blend (final) Blend
$850k

Owner & transaction history

since 2020
2 recorded transactions
2020
Price N/A
2018
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

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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