Seller's Agent in 2026
Keith Mishkin
Cambridge Properties
(602) 787-6328
3 in this area
127 Total Sales
1516 E Thomas Rd Phoenix, AZ 85014
Central City Neighborhood
--
Bed
--
Bath
2,782
Sq Ft
0.71
Acres Lot
Highlights
- 0.71 Acre Lot
- Ceiling height between 10 to 12 feet
- Forced Air Heating and Cooling System
- Longview Elementary School Rated 9+
About This Home
As of April 2026High-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.
Last Agent to Sell the Property
Cambridge Properties License #BR039542000 Listed on: 02/06/2026
Last Buyer's Agent
Non-MLS Agent
Non-MLS Office
Property Details
Property Type
- Other
Est. Annual Taxes
- $13,209
Year Built
- Built in 1987
Lot Details
- 30,825 Sq Ft Lot
- Property is zoned C-2
Home Design
- Foam Roof
- Block Exterior
- Stucco
Interior Spaces
- 2,782 Sq Ft Home
- Ceiling height between 10 to 12 feet
Parking
- 34 Open Parking Spaces
- 34 Parking Spaces
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
- Individual Gas Meter
Listing and Financial Details
- Assessor Parcel Number 118-14-037-C
Community Details
Amenities
- Public Restrooms
Building Details
- Gross Income $5,400
- Net Operating Income $5,400
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 6, 2026
Closed on
Apr 29, 2026
Sold by
Lakk Llc
Bought by
Eq Thomas Llc
Seller's Agent
Keith Mishkin
Cambridge Properties
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$1,400,000
Sold Price
$1,450,000
Premium/Discount to List
$50,000
3.57%
Views
16
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-99.88%
Purchase Details
Closed on
Apr 7, 2022
Sold by
Gutierrez and Adelaida
Bought by
Lakk Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,331,250
Interest Rate
4.72%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 15, 2022
Sold by
Perez Antonio M and Perez Irma R
Bought by
Gutierrez Larry and Gutierrez Adelaida
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,331,250
Interest Rate
4.72%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 19, 2003
Sold by
Webster William Michael
Bought by
Perez Antonio M and Perez Irma R
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
6.22%
Mortgage Type
Commercial
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $1,450,000 | First American Title | |
| Warranty Deed | -- | None Listed On Document | |
| Warranty Deed | $1,000,000 | None Listed On Document | |
| Warranty Deed | $420,000 | Security Title Agency |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,331,250 | New Conventional | |
| Previous Owner | $300,000 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/29/2026 04/29/26 | Sold | $1,450,000 | +3.6% | $521 / Sq Ft |
| 04/08/2026 04/08/26 | Pending | -- | -- | -- |
| 02/06/2026 02/06/26 | For Sale | $1,400,000 | -- | $503 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Agents Affiliated with this Home
-
Keith Mishkin
-
N
Buyer's Agent in 2026
Non-MLS Agent
Non-MLS Office
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6980373
APN: 118-14-037C
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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