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507 E Broadway Rd 1,814 SF Retail Building Phoenix, AZ 85040 $1,290,832 CAD ($711.59 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 |
$89,679
|
$49.44
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$89,679
|
$49.44
|
| Taxes |
$11,714
|
$6.46
|
| Operating Expenses |
$408
|
$0.22
|
| Total Expenses |
$12,122
|
$6.68
|
| Net Operating Income |
$77,557
|
$42.75
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $89,679 |
| Annual Per SF | $49.44 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $89,679 |
| Annual Per SF | $49.44 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,714 |
| Annual Per SF | $6.46 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $408 |
| Annual Per SF | $0.22 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $12,122 |
| Annual Per SF | $6.68 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $77,557 |
| Annual Per SF | $42.75 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,814 SF
Building Class
B
Year Built
2000
Price
$1,290,832 CAD
Price Per SF
$711.59 CAD
Cap Rate
6%
NOI
$77,450 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
C-3
Fairly walkable
40/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 113-37-083A | Total Assessment | $78,332 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $11,714 CAD ($6.46 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
$78,332 CAD
Annual Taxes
$11,714 CAD ($6.46 CAD/SF)
Tax Year
2025
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507 E Broadway Rd
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