507 E Broadway Rd Phoenix, AZ 85040
South Mountain NeighborhoodEstimated payment $5,790/month
Highlights
- 0.31 Acre Lot
- Ceiling height between 10 to 12 feet
- Security Fence
- Phoenix Coding Academy Rated A
- Cooling Available
- Heating Available
About This Home
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 Agent
Compass Brokerage Phone: 480-980-2244 License #BR112043000 Listed on: 03/11/2026
Property Details
Property Type
- Other
Est. Annual Taxes
- $8,621
Year Built
- Built in 2000
Lot Details
- 13,650 Sq Ft Lot
- Security Fence
- Block Wall Fence
- Property is zoned C-3
Home Design
- Wood Frame Construction
- Composition Roof
- Block Exterior
Interior Spaces
- 1,824 Sq Ft Home
- Ceiling height between 10 to 12 feet
- Fire and Smoke Detector
Parking
- 20 Open Parking Spaces
- 20 Parking Spaces
Utilities
- Cooling Available
- Heating Available
- Natural Gas Not Available
Listing and Financial Details
- Tax Lot 81
- Assessor Parcel Number 113-37-083-A
Community Details
Overview
- Loch Place Annex Subdivision
Building Details
- Operating Expense $8,921
- Gross Income $66,000
- Net Operating Income $57,000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,621 | $57,177 | -- | -- |
| 2024 | $8,670 | $56,156 | -- | -- |
| 2023 | $8,670 | $61,353 | $16,660 | $44,693 |
| 2022 | $8,746 | $54,023 | $12,390 | $41,633 |
| 2021 | $9,480 | $55,350 | $12,744 | $42,606 |
| 2020 | $9,363 | $52,056 | $9,396 | $42,660 |
| 2019 | $9,098 | $59,490 | $9,864 | $49,626 |
| 2018 | $8,853 | $63,252 | $9,486 | $53,766 |
| 2017 | $8,438 | $61,056 | $9,882 | $51,174 |
| 2016 | $8,025 | $55,620 | $8,982 | $46,638 |
| 2015 | $7,764 | $46,084 | $8,973 | $37,111 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/11/2026 03/11/26 | For Sale | $950,000 | +245.5% | $521 / Sq Ft | |
| 10/23/2017 10/23/17 | Sold | $275,000 | +22.2% | $152 / Sq Ft | View Prior Sale |
| 05/15/2015 05/15/15 | For Sale | $225,000 | -- | $124 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $275,000 | Pioneer Title Agency Inc | |
| Trustee Deed | $273,232 | None Available | |
| Warranty Deed | $340,000 | Tsa Title Agency | |
| Interfamily Deed Transfer | -- | Tsa Title Agency | |
| Warranty Deed | $27,850 | Stewart Title & Trust |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $178,750 | Seller Take Back | |
| Previous Owner | $217,500 | Commercial | |
| Previous Owner | $18,850 | Seller Take Back |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6996798
APN: 113-37-083A
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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Ask me questions while you tour the home.