507 Broadway Rd Phoenix, AZ 85040

This Phoenix, Arizona commercial property, located at 507 E Broadway Rd, presents a compelling investment opportunity. The 1,804 square foot building sits on a 13,650 square foot lot and is zoned C3, offering versatility for various uses. Currently operating as an auto repair shop, the property boasts three exterior bays and two lifts. The single-tenant net lease has a remaining term of approximately 1.1 years, expiring December 31, 2025, with a monthly rent of $4,600. The property underwent renovations in 2022 and features ample parking. With a strong net operating income (NOI) of $54,600 and a cap rate of 6.24%, this property offers a stable income stream and significant potential for future growth. The asking price is $875,000, translating to a price per square foot of $485.03. This is a prime commercial opportunity in a high-traffic area of Phoenix, ideal for investors seeking a solid return on investment. The property's history includes previous use as a restaurant, showcasing its adaptability. Detailed financial information and lease terms are available upon request.