507 E BROADWAY Road, Phoenix, AZ 85040 (MLS# 6996798)

507 E BROADWAY Road, Phoenix, AZ 85040

$950,000

Property Type: Comm/Industry Sale Square Footage: 1,824 Lot Size (sq. ft.): 13,650 Status: Active

Current Price: $950,000 List Date: 3/11/2026 Last Modified: 5/01/2026

Overview

Description

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.

Listing Details MLS# 6996798

Location, Tax & Legal

House Number: 507
Compass: E
Street Name: BROADWAY
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 2116
Country: US
County Code: Maricopa
Subdivision: LOCH PLACE ANNEX
Assessor Number: 113-37-083-A
Tax Year: 2025
Assessor's Map #: 37
Legal Description (Abbrev): LOCH PLACE ANNEX E2 LOT 81 EX N 7' & ALSO E2 LOT 82
Assessor's Parcel #: 83
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 115801
Taxes: 8621
Legal: LOCH PLACE ANNEX E2 LOT 81 EX N 7' & ALSO E2 LOT 82

Contract Info

Ownership: Fee Simple

General Property Description

Type of Property: Free Standing
Ttl Apx SqFt Bldg: 1824
# of Buildings: Yes
Stories: Yes
# of Interior Levels: Yes
Year Built: 2000
Uncvrd Parking Spcs: 20
Zoning: C-3

Remarks Misc

Cross Street: Broadway, 7th Street
Directions: West on Broadway to property

Legal Info

Township: 1N
Range: 3E
Section: 29
Lot Number: 81

Bay Info

# of Bays: 3
Bay Door Height: 14

More Information

Income Expenses

Gross Annual Sch Inc: 66000
Net Operating Income: 57000

Showing Notification Methods

Showing Service: Aligned Showings

Currently Not Used

Sold Price Per SqFt: 520.83

Construction

Block: Yes
Wood Frame: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes

Income & Expenses

Annual Wtr/Swr Exp: 300
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 8921
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 66000

Building Type

Commercial: Yes

Business Type

Automobile: Yes

Pmt & Rate Info

Cap Rate: 6
Equity: 950000
Total Owed: 0

Lockbox Type

None: Yes

Ceiling Height

10.1 Feet to 12 Feet: Yes

Heating

Electric: Yes

Cooling

Office A/C: Yes

Interior Features

Smoke Detector(s): Yes

Loading Facilities

None: Yes

Source of Fincl Data

Owner: Yes

Fencing

Block: Yes
Security: Yes

Water Source

City Franchise: Yes

Sewer

Septic Tank: Yes

Parking Features

Fenced: Yes

Electric

SRP: Yes

Gas

None: Yes

New Financing

Cash Only: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Property Features

Building Type: Commercial Business Type: Automobile Construction: Block; Wood Frame Roofing: Composition Floors: Concrete Ceiling Height: 10.1 Feet to 12 Feet Cooling: Office A/C Loading Facilities: None Interior Features: Smoke Detector(s) Fencing: Block; Security Parking Features: Fenced Electric: SRP Gas: None Water Source: City Franchise Sewer: Septic Tank New Financing: Cash Only Lockbox Type: None Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Environmental: None

Listing Office: Compass

Last Updated: May - 01 - 2026

Broker Attribution: 480-980-2244

507 E BROADWAY Road, Phoenix, AZ 85040 (MLS# 6996798)