Property profile

709 W Southern Ave Phoenix, AZ 85041

FOR LEASE
Grocery and convenience stores
Property ID
US07-0016737
2,700 SF 0.53 ac lot Built 1986
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This commercial property is located on the southwest corner of 7th Avenue and Southern Avenue in Phoenix and is part of a larger shopping center anchored by Food City. The site includes a 2,700-square-foot building previously used as a gas station and occupies approximately 0.53 acres (APN 105-83-002L). The parcel is zoned C-1. The property is positioned at a signalized intersection with traffic of nearly 60,000 vehicles per day and includes pylon signage. The area is characterized by dense, walkable multi-family residential development, and the surrounding market features a population of about 110,000 with a daytime population exceeding 100,000 within a 3-mile radius. Due to its hard-corner frontage and zoning, the site is suitable for convenience retail and/or fuel-related use, including potential configurations such as convenience store and gas station operations.

Property profile

Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE
Year built 1986
Construction STEEL FRAME
Total area 2,700 SF
Lot 0.53 ac (22,913 SF)
Zoning code C-1
APN 105-83-002L
UPID US07-0016737

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
  • Auto Repair Shop
  • Atm
  • Crypto Atm Atm
  • Gas Station

Location

709 W Southern Ave Phoenix, AZ 85041
Phoenix metro Census 116615 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.90M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.42M
Blend (final) Blend
$1.90M

Owner & transaction history

since 2024
Last sale
$1.9M
7 recorded transactions
2024
$1.9M
2020
$1.5M
2018
$800,000
2017
Price N/A
2011
$1.0M
2007
Price N/A
2006
$900,000

Zoning & alternative use

C-1 · Phoenix, AZ
Zoning description

The purpose C-1 zone is to provide light neighborhood type retail and customer service uses designed to be compatible with each other and nearby residential districts

General category COMMERCIAL
Top alternative use upside
Commercial (general) $1.9M +173.6%
Auto repair, garage $1.1M +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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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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