Properties

Phoenix, AZ 85014 1516 E THOMAS Road

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Presented By: Cambridge Properties; 602-493-5100
  • MLS# 6980373
  • 02/06/2026
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  • SQFT • 2,782

Home Details

High-visibility former restaurant opportunity located directly on Thomas Road in the heart of Midtown Phoenix. This ยฑ2,762 SF freestanding building sits on an oversized ยฑ0.75-acre C-2 zoned parcelโ€”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.
Presented By: Cambridge Properties; 602-493-5100

Interior Features for 1516 E THOMAS Road

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NYes
FlooringTile, Laminate
Heating Y/NYes

General for 1516 E THOMAS Road

Attached Garage No
Business TypeRestaurant
Cap Rate0.39
Carport Y/NNo
CityPhoenix
Construction MaterialsStucco, Block
CoolingCentral Air
CountyMaricopa
DirectionsFrom SR-51, exit at Thomas Rd and head west. Continue past 16th Street; property is on the north side of Thomas Rd just west of 16th St.
DisclosuresSeller Prop Disc Stm
ElectricAPS
Gross Income5400.0
HeatingForced Air, Natural Gas
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet30825.0
Lot Size UnitsSquare Feet
MobileHomeRemainsYNNo
Net Operating Income5400.0
New ConstructionNo
Occupancy TypeVacant
Open Parking Spaces34.0
OwnershipFee Simple
OwnershipFee Simple
Property TypeComm/Industry Sale
Rent Control Y/NNo
RoofFoam
Senior CommunityN
SewerPublic Sewer
Standard StatusActive
StatusActive
Structure TypeCommercial
Subdivision NameN/A
Tax Annual Amount13209.0
Tax Lotn/a
Tax Year2025
Township2N
Year Built1987
ZoningC-2

Exterior for 1516 E THOMAS Road

Covered Spaces0.0
Crops Included Y/NNo
FencingBlock
Irrigation Water Rights Y/NNo
Lot Size Acres0.71
Lot Size Area30825.0
Number of Buildings1
Parking FeaturesParking Lot
SpaNo
Total Parking34.0
Water SourceCity Franchise

Additional Details

Price History

Connect Realty

Price $1,400,000
MLS#6980373
List Date 02/06/2026
Property Type Commercial
Phone 888.795.6274
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2170 Buckthorne PL. #100
The Woodlands, TX 77380
866-938-0924
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