The knowledge of the physical properties of a material is crucial to realize its practical technological applications.Here, a study related to phase stability, transition pressure, electronic, optical,and thermal propertiesof GaAs, GaN, as well as their mixed ternary alloys GaN0.25As0.75, GaN0.5As0.5, andGaN0.75As0.25 is presented. The study is performed by employing "full-potential linearized augmented-plane-wave plus local-orbital, (FP-L(APW+lo))approach framed within density functional theory (DFT)" and recognized within WIEN2k computational code. The results of the phase stability show that the GaNxAs1-x alloys are stable for all compositions in the zinc blendephase (B3),except for x=1,, whereas the structure corresponding to x=1 composition is found to be more stable inthe wurtzite (B4) phase. The physicalproperties of the more stable phases corresponding to each composition are explored. The pressure-induced phase transition is also investigatedcorresponding to each composition. The electronic and optical properties are investigated using the Tran-Blahamodified Becke-Johnson (mBJ) potential approach. To explore the thermal properties, the "quasi-harmonic Debye model" approach is employed. Our calculated results of the absorption coefficients and optical band gap show that these alloys could be appropriate candidates for applications in solar cell and optoelectronic devices.