Date
Details
Price
Change
Source
2/05/2026
Listed
$1,400,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/16
$1,400,000
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1/16
Property Description
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.
Full Property Details
Full Property Details for 1516 E Thomas Rd
General
- Price: $1,400,000
- Taxes: $13,209 (2025)
- Status: Active
- Type: Commercial
- Source: ARMLS_Arizona_MLS_Phoenix_Area
- MLS ID: 6980373
- Updated: 2/5/2026
- Added to Site: 24 day(s) ago
Business
- Business Type: Restaurant
Interior
- Flooring: Tile, Laminate
Parking
- Parking Features: Parking Lot
Location
- County: Maricopa
- Township: 2N
- Subdivision: N/A
- Cross Streets: E. Thomas Road and N 16th St
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air
- Heating Type: Forced Air, Natural Gas
Utilities
- Water: City Franchise
Structural Information
- # Buildings: 1
- Structure Type: Commercial
- Exterior Const.: Stucco, Block
- Roof: Foam
- Year Built: 1987
Lot Features
- Lot Size (Acres): 0.71
- Lot Size (Sq. Ft.): 30,825
- Zoning: C-2
Financial Considerations
- Tax Amount: $13,209
- Tax Year: 2025
Disclosures and Reports
- Legal Description: COM SE COR SEC 28 TH W 73F TH N 50D W 51.34F TO TPOB TH W 375.48F TH N 11D 4M E 307.44F TH S 37D 39M
- Property ID: 118-14-037-C
- Range: 3E
- Section: 28
Listed by Cambridge Properties
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Listing agent
— 1516 E Thomas Rd —
Cambridge Properties
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Schools
Schools serving 1516 E Thomas Rd
School Districts:Osborn Elementary District, Phoenix Union High School District
| Name | Grades | Distance |
|---|---|---|
Longview Elementary School 1209 East Indian School Road, Phoenix, AZ 85014 | PK-6 | 1 mi |
Osborn Middle School 1102 West Highland Avenue, Phoenix, AZ 85013 | 7-8 | 2.9 mi |
North High School 1101 East Thomas Road, Phoenix, AZ 85014 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1516 E Thomas Rd
Tax History
Tax History for 1516 E Thomas Rd
Year
Property Taxes
Change
Tax Assessment
Change
2025
$13,209
—
$210,088
5%
2024
$13,163
—
$199,423
-3%
2023
$13,102
-2%
$206,433
38%
2022
$13,412
—
$149,889
25%
2022
$13,412
-4%
$119,718
—
2021
$14,029
3%
$119,268
5%
2020
$13,674
5%
$113,202
20%
2019
$13,081
3%
$94,428
4%
2018
$12,648
9%
$91,152
1%
2017
$11,612
4%
$90,684
8%
2016
$11,202
5%
$83,610
11%
2015
$10,703
7%
$75,092
6%
2014
$9,970
-13%
$70,623
-11%
2013
$11,425
—
$78,930
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1516 E Thomas Rd
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1516 E Thomas Road, Phoenix, AZ 85014 (MLS# 6980373) is a Commercial property. 1516 E Thomas Road is currently listed for $1,400,000 and was received on February 06, 2026. Want to learn more about 1516 E Thomas Road? Do you have questions about finding other Commercial real estate for sale in Maryvale? You can browse all Maryvale real estate or contact a Coldwell Banker agent to request more information.