Listed by Matthews
$5,100,000
1800 West Van Buren Street
Details
Property Type Retail, Multifamily
Square Footage 12,995
Cap Rate 8.71%
NOI $444,377
Occupancy 100%
Tenancy Multi
Lease Type NNN
Remaining Term 5
Price per SqFt $392
Year Built 1955
Year Renovated 2024,2025,2026
Buildings 5
Acreage 0.860
Zoning C-3 & R-5 Overlay (1800 W Van Buren & 310-312 N 18th Ave), C-3 (1746 W Van Buren & 311 N 18th Ave)
Investment Type Net Lease
Ground Lease No
Fully Occupied Mixed-Use Portfolio with NNN Retail and Multifamily Upside in Phoenix
Marketing description
Matthews™ is pleased to present the Van Buren Portfolio, a mixed-use investment opportunity consisting of multifamily and NNN retail assets located near Downtown Phoenix. The portfolio includes eight multifamily units and ten retail suites across four buildings on three separate parcels, offering investors a unique blend of stabilized income and future upside within a high-demand urban infill corridor.
The retail component is 100% occupied with five-year absolute NNN leases featuring 4% annual rent escalations, providing investors with predictable, low-maintenance cash flow. The multifamily portion consists of two buildings totaling eight units, with six units currently leased at $2,200 per month on traditional one-year leases and two units operating as short-term rentals. In total, the portfolio generates a strong in-place NOI of $444,377 across 12,995 square feet, reflecting an attractive blended cap rate of 8.71%.
Investment highlights
- Stabilized Retail Income with Upside in Residential Lease-Up: The Van Buren Portfolio presents a rare opportunity to acquire a fully occupied, stabilized retail asset delivering predictable cash flow through five-year NNN leases all of which have 4% annual increases. This structure offers investors minimal management responsibility and dependable income, while adjacent multifamily units—currently leased as both yearly rentals and Airbnbs—offer additional upside through lease-up strategies or short-term rental optimization.
- Robust In-Place Yield with Upside: The portfolio generates a combined NOI of $444,377 across 12,995 SF (8,055 SF of Retail & 4,940 SF of Multifamily), reflecting a blended cap rate of 8.71%. With full retail occupancy, stabilized leases, and conservative pro forma assumptions, investors benefit from in-place cash flow today with opportunity to increase residential income through higher Airbnb occupancy, market-rate adjustments, or operating efficiencies.
- Multifamily Leasing Optionality: The multifamily units across 310-312 Van Buren offer flexibility between traditional leasing and short-term Airbnb strategies, allowing investors to adapt to seasonal demand and maximize yield.
- Opportunity to Control Both Corners: Ownership of both 1746 W Van Buren and 1800 W Van Buren provides the rare ability to control both corners of the intersection at N 18th Avenue & W Van Buren Street. This creates long-term strategic value. Investors may purchase the properties individually or as a portfolio, providing flexibility in capital deployment. Acquiring both assets allows for operational efficiencies and strategic control of a highly visible retail node.
- Strategic Urban Infill Location: Situated on Van Buren Street and 18th Avenue, just 0.5 miles from I-17, the properties enjoy excellent accessibility and exposure to over 36,000 VPD. The proximity to Downtown Phoenix and the Arizona State Capitol enhances tenant demand and long-term desirability.
- Thriving Capitol District & Redevelopment Corridor: The subject is located in the emerging Capitol District, home to 15,000+ government employees and undergoing a major redevelopment surge. With over 3,500 new apartment units under construction within two miles, this area is rapidly transforming into a high-demand mixed-use corridor—positioning the asset for both income growth and long-term appreciation.
- Highly Favorable Demographics: Within a 3-mile radius, the population includes 114,307 residents with an average household income of $82,923, reinforcing strong local demand for both retail services and residential units. This demographic profile supports both tenant retention and the long-term viability of rent growth.
- Strong Visibility: Situated at the intersection of N 18th Avenue and W Van Buren Street, both assets benefit from strong corner visibility, prominent storefront frontage, and multiple points of ingress and egress. Controlling both corners of the intersection significantly enhances branding opportunities and long-term positioning within the trade area, creating a cohesive retail presence that is difficult for competitors to replicate.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$444,377.00
$37,031.42/mo
Valuation Metrics
0
DSCR
8.71%
Cap Rate
8.71%
ROI
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