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Pending

1516 E THOMAS Road

1516 E THOMAS Road, Phoenix, AZ 85014

$1,400,000

High-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.

2,782 Sq.Ft. LIVING AREA

0.71 Acres lot

Keith Mishkin

title CEO | President | Designated Broker
PHONE (602) 469-6600
EMAIL [email protected]
DRE # BR039542000

Features & Amenities

Interior

Flooring Tile, Laminate

Area & Lot

Status Pending
Living Area2,782 Sq.Ft.
Lot Area0.71 Acres
MLS® ID6980373
TypeCommercial
YEAR BUILT1987

Exterior

water SourceCity Franchise
roofFoam
parkingParking Lot
HEAT TYPEForced Air, Natural Gas
AIR CONDITIONINGCentral Air
sewerPublic Sewer

Financial

Sales Price$1,400,000
Real Estate Tax $13,209/yr
Zoning C-2

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Contact Details

Cambridge Properties

Phone

(602) 493-5100

[email protected]

Open hours

Monday – Friday 9 a.m. – 5 p.m.

Address

1515 E Missouri Avenue Suite #201 Phoenix, AZ 85014

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