1516 E Thomas Rd - Restaurant FOR SALE


Phoenix, AZ 85014- Encanto
$1,400,000 USD
602-493-5100
1516 E Thomas Rd, Phoenix, AZ for Sale
$1,400,000 USD
Restaurant - FOR SALE
1/16
null | Request Cap Rate

1516 E Thomas Rd
Phoenix, AZ 85014
Encanto


HIGHLIGHTS

  • High-visibility former restaurant opportunity located directly on Thomas Road

OVERVIEW

High-visibility former restaurant opportunity located directly on Thomas Road in the heart of Midtown Phoenix. This ±2,762 SF freestanding building sits on an oversized ±0.75-acre C-2 zoned parcel—providing excellent parking (34 spaces), strong frontage, and flexibility for restaurant, QSR, or freestanding retail use. Recently improved in 2022 with new kitchen equipment, flooring, ceilings, plumbing, HVAC modifications, lighting, and refreshed dining areas, offering a true turn-key foundation for operators or owner/users. The large lot allows for potential drive-thru integration or expanded outdoor/parking layouts, uncommon for the corridor. Additional upside includes an income-producing billboard lease in place through 2028. Positioned within a sub-5% vacancy trade area surrounded by dense residential and major arterials, this is a rare infill pad with strong fundamentals and multiple paths to value creation.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$503 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

High-Visibility Former Restaurant Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

C2/R3

APN/PARCEL ID

118-14-037C

ASK ABOUT THIS PROPERTY

Shane RossCambridge PropertiesMore Info
602-493-5100

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Shane RossCambridge PropertiesMore Info
602-493-5100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.