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507 E Broadway Rd 1,814 SF Retail Building Phoenix, AZ 85040 $1,300,617 CAD ($716.99 CAD/SF) 6% Cap Rate
Investment Highlights
- Located in a designated Opportunity Zone, offering potential tax advantages.
- Current tenant is an auto repair shop under a net lease through December 2025.
- Positioned along a busy commercial corridor with strong vehicular traffic.
- Recently renovated in 2022 with updated finishes and functional improvements.
- Features three exterior bays with two lifts, supporting automotive operations.
- Ample on-site parking and C-3 zoning allow for flexible future uses.
Executive Summary
Prime Investment with Rare C-3 Zoning. Excellent opportunity to acquire a high-visibility commercial property generating strong income with a 6% cap rate. The 1,814 SF building is leased to an established auto repair tenant at $5,500/month, providing stable cash flow. Property has been recently remodeled and features a new roof, minimizing near-term capital expenses. Includes three exterior service bays with two lifts and ample parking. Located in a busy corridor with highly desirable and hard-to-find C-3 zoning, allowing for a wide range of commercial uses and long-term flexibility for investors or future redevelopment.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$90,359
|
$49.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$90,359
|
$49.81
|
| Taxes |
$11,803
|
$6.51
|
| Operating Expenses |
$411
|
$0.23
|
| Total Expenses |
$12,213
|
$6.73
|
| Net Operating Income |
$78,145
|
$43.08
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $90,359 |
| Annual Per SF | $49.81 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $90,359 |
| Annual Per SF | $49.81 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,803 |
| Annual Per SF | $6.51 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $411 |
| Annual Per SF | $0.23 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $12,213 |
| Annual Per SF | $6.73 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $78,145 |
| Annual Per SF | $43.08 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,814 SF
Building Class
B
Year Built
2000
Price
$1,300,617 CAD
Price Per SF
$716.99 CAD
Cap Rate
6%
NOI
$78,037 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
C-3
Nearby Major Retailers
Property Taxes
| Parcel Number | 113-37-083A | Total Assessment | $78,944 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $11,803 CAD ($6.51 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
113-37-083A
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$78,944 CAD
Annual Taxes
$11,803 CAD ($6.51 CAD/SF)
Tax Year
2025
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507 E Broadway Rd
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