507 E BROADWAY Road, Phoenix, AZ 85040, Phoenix AZ 85040
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 invest
CloseDaily local analysis
Facts and context beyond the MLS description
The sections below combine this listing's current facts with locally retained inventory, sale, and location data. They are generated from the same MLS replica that powers the page, without an external data request during your visit.
Current market context
How this property compares in Phoenix
This property is offered at $480 per square foot, compared with a $5 median for active listings without a reported bedroom count in Phoenix. Its asking price falls near the 77th percentile of that active group. The comparison uses 566 active or publicly marketable listings from the same local MLS source, filtered to records without a reported bedroom count.
The property has been tracked for 0 days, while the current cohort averages 0 days on market. These figures are a point-in-time inventory comparison, not an appraisal or prediction; condition, lot, updates, exact location, and concessions can move an individual sale away from the city-level pattern.
Nearby closed sales
Recent sold homes near this property
The local sold-history cache contains 8 closed sales within approximately 1.25 miles during the last six months. The median recorded sold price in this nearby sample is $322,500, and the median is $242 per square foot where square footage was reported.
Nearby sales are useful context, but they are not automatically comparable: renovation level, acreage, water access, construction quality, financing, and seller concessions can materially change a result. A property-specific valuation should review the most similar homes and the full MLS record before drawing a conclusion.
| Address | Sold | Home | Sold price | Distance |
|---|---|---|---|---|
| 422 E BROADWAY Road, Phoenix, AZ 85040 | Aug 3, 2026 | — · 7,991 sqft | $315,000 | 0.0 mi |
| 4622 S 7TH Street 3, Phoenix, AZ 85040 | May 4, 2026 | — | $215,000 | 0.2 mi |
| 4602 S 8TH Street, Phoenix, AZ 85040 | May 29, 2026 | 3 bd · 1,204 sqft | $330,000 | 0.3 mi |
| 4610 S 8TH Place, Phoenix, AZ 85040 | Apr 16, 2026 | 1 bd · 609 sqft | $132,500 | 0.3 mi |
| 209 E JONES Avenue, Phoenix, AZ 85040 | Jul 16, 2026 | 3 bd · 1,424 sqft | $345,000 | 0.3 mi |
| 4437 S 8TH Place S, Phoenix, AZ 85040 | Sep 30, 2026 | 3 bd · 1,167 sqft | $345,050 | 0.4 mi |
| 710 E ATLANTA Avenue, Phoenix, AZ 85040 | May 29, 2026 | 3 bd · 1,219 sqft | $338,000 | 0.4 mi |
| 4009 S CENTRAL Avenue, Phoenix, AZ 85040 | Sep 24, 2026 | — · 3,350 sqft | $300,000 | 0.4 mi |
MLS timeline
Price and status history
This timeline records the price and public status snapshots received by CloseDaily from the local MLS replica. It is retained separately from the current listing so later changes do not erase the earlier market history. Dates reflect when the source record changed or was first observed by the sync system.
- $875,000 · Active
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