8341 7Th StPhoenix, AZ 85020

Property Details for 8341 7Th St

Year built

1962

Construction

CONCRETE

Lot size

0.23 AC

Property size (Sq ft)

2,069 SF

Zone code

C-2

Property type

Office buildings

APN

160-07-142G

APU

16007142G

Description

This exceptional 2,069 square foot retail strip center, located at 8341 N 7th Street in Phoenix, Arizona, presents a compelling investment opportunity. The property, built in 1974, sits on a 9,897 square foot lot (APN 160-07-142-G) and is offered at $510,000, or $246.50 per square foot. The single-building property features a multi-tenant configuration, operating under a NNN lease structure. Its prime location on 7th Street in the North Central neighborhood offers excellent visibility and convenient access to major roadways, including SR-51 and I-17. The property boasts a previously used cigar lounge with an attractive outdoor patio area, providing ample space for various retail uses. This presents a unique opportunity for an owner-user or value-add investor seeking a well-positioned retail space in a thriving Phoenix neighborhood. The property's strong location and existing infrastructure make it an attractive prospect for a variety of retail businesses. The substantial lot size also offers potential for future expansion or development. This is a rare opportunity to acquire a well-located retail property in a desirable area of Phoenix.

• CAP approach

  CAP return

  Valuation

  6%

  $382,893

  6.5%

  $353,440

  7%

  $328,194

• Comparable approach

  Method

  Valuation

  Relative Method

  $318,936

  Geo Method

  $318,936

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $748,942

  Retail / Commercial

  $373,659

  Mixed-Use / Specialty

  $364,135

  Hospitality / Lodging

  $256,489

  Institutional / Educational

  $375,626

  Residential Income

  $439,482

  Multifamily

  $572,504

  Automotive / Energy

  $321,965

  Parking / Income-Based Land

  $119,199

  Restaurant / Food Service

  $171,907

  Healthcare / Senior Housing

  $381,814

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.5596

Longitude

-112.065

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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