Phoenix, AZ retail market
Phoenix retail fundamentals remain exceptionally tight with metro vacancy holding near 4.4% and positive tenant absorption. Sale pricing ranges from roughly $140 per square foot for older unanchored centers to over $800 per square foot for prime new construction. City-wide comps are provided because no specific street address or parcel was specified for the target property.
What's driving Retail prices in Phoenix
Phoenix retail sale values have trended higher behind strong tenant absorption and historically constrained supply.
- Metro retail vacancy near 4.4% driving consistent rental rate growth
- Population expansion and TSMC ecosystem boosting North Phoenix retail traffic
- Limited new retail construction pipeline restricting available space
Market intelligence
Tracking this market · 7 comps · 12-month median $843/SF · latest deal Aug 2026.
This quarter: 0 comps added to our corpus in Q4 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
MomentumPins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned. The shaded area is Phoenix's municipal boundary, coloured to match the momentum read above.
Recent Retail comps in Phoenix, AZ
| Address | Date | Type | Size (SF) | Center Type | Anchor | Price / Rate | $/SF | Cap Rate | Tenancy | Year Built |
|---|---|---|---|---|---|---|---|---|---|---|
| 2222 W Happy Valley Rd, Phoenix, AZ news | Aug 2026 | Sale | 16501 | Strip center | Unanchored | $13,907,843 | $843 | 5.60% | Multi-tenant, 100% occupied | 2026 |
| 2975 W Dove Valley Rd, Phoenix, AZ news | Jun 2026 | Sale | 2458 | Single-tenant NNN | Chipotle | $4,400,000 | $1,790 | Single-tenant NNN - Chipotle | 2025 | |
| 1775 N 99th Ave, Phoenix, AZ news | Nov 2025 | Sale | 47201 | Neighborhood center | Sprouts Farmers Market | $30,700,000 | $650 | Multi-tenant, 100% occupied | 2024 | |
| 3780-3890 W Happy Valley Rd, Phoenix, AZ estimate | Aug 2025 | Sale | 144192 | Neighborhood center | Safeway | $71,000,000 | $492 | Multi-tenant, 100% occupied | 2007 | |
| 4139 W Bell Rd, Phoenix, AZ news | Jun 2025 | Sale | 35926 | Strip center | Unanchored | $5,000,000 | $139 | Multi-tenant, 87% occupied | 1985 | |
| 3434 W Greenway Rd, Phoenix, AZ news | Jan 2025 | Sale | 70439 | Neighborhood center | Smart & Final | $10,550,000 | $150 | Multi-tenant, 88% occupied | 1988 | |
| 5324-5338 N 7th Ave, Phoenix, AZ estimate | Dec 2024 | Sale | 5245 | Strip center | Unanchored | $1,375,000 | $262 | 7.38% | Multi-tenant, 100% occupied | 1959 |
| Median of 7 recent sales · $492/SF | $492 | |||||||||
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Get a free, instant estimate from recent comps, with the source cited on every one.
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Phoenix, AZ, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.