Office/Retail Center with
For Sale
$5,509,914
10220 W BELL Road, Sun City, AZ 85351
C-2 zoned garden-style center with monument and building signage, abundant parking, and direct access to a main thoroughfare.
Property Size27,862 SF
Price / SF$197.76
Days on Market189
Property Features for 10220 W BELL Road
General Information
Standard status
Active
Size
27,862 SF
Property subtype
Commercial/Industrial
Zoning
C-2
Additional Details
Traffic Count
54,245 vehicles/day
Taxes and HOA fees
Annual Taxes
$36,333
Building Details
Year Built
1983
Year Renovated
2004
Stories
1
Tenancy
Multi
Listing Agency:
Kidder Mathews
(602) 300-4112
Listed By:
Bret Isbell · License #BR549336000
(602) 300-4112
Source:
Exitrealty
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 11 at 8:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews
Investment Insights
Based on property information with market context.
This stable, multi-tenant, true mixed-use commercial property offers a single-story, garden-style layout. The building includes Phase I constructed in 1983 and Phase II constructed in 2004, providing a mix of office and retail space within one cohesive center.
The property fronts a busy main east/west thoroughfare, Bell Rd., and is positioned for prominent tenant identity. The center supports both building and monument signage, and it benefits from reported high traffic counts of 54,245 VPD along the frontage. Ample parking and easy access help support day-to-day operations for employees, customers, and visitors.
For tenants and buyers seeking flexible, visibility-driven space, the combination of mixed-use design, available signage, and convenient parking can simplify branding and customer access. The C-2 zoning also aligns the asset with a broader range of commercial needs typical of an office-and-retail center serving the northwest Valley. As a for-sale offering, it provides an established platform built across two phases that can accommodate future leasing or ownership objectives.
The property fronts a busy main east/west thoroughfare, Bell Rd., and is positioned for prominent tenant identity. The center supports both building and monument signage, and it benefits from reported high traffic counts of 54,245 VPD along the frontage. Ample parking and easy access help support day-to-day operations for employees, customers, and visitors.
For tenants and buyers seeking flexible, visibility-driven space, the combination of mixed-use design, available signage, and convenient parking can simplify branding and customer access. The C-2 zoning also aligns the asset with a broader range of commercial needs typical of an office-and-retail center serving the northwest Valley. As a for-sale offering, it provides an established platform built across two phases that can accommodate future leasing or ownership objectives.
Key Highlights
- Garden‑style commercial property zoned C‑2 with Bell Rd frontage
- Built in 1983 (Phase I) and 2004 (Phase II), offering single‑story layout
- Direct access to Bell Rd, a main east/west thoroughfare
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$483,411
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,668,220
$9.7M
Cap Rate 7%
$6,905,871
$6.9M
Cap Rate 9%
$5,371,233
$5.4M
Market Conditions
NOI Build-Up for 27,862 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$852.6K $30.60/SF
− Vacancy
−$208.0K −$7.47/SF
EGI
$644.5K $23.13/SF
− OpEx
−$161.1K −$5.78/SF
NOI
$483.4K $17.35/SF
Area
Maricopa County, AZ
Vacancy
24.40%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,668,220
Cap Rate 7%
$6,905,871
Cap Rate 9%
$5,371,233
Alternative Uses
Best Use
Office B
$6.91M
$6.04M – $8.06M
NOI $483,411 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.62M
$7.54M – $10.05M
NOI $603,293 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
54,245 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 85351, AZ
29,795
Population
20,414
Households
1.5
Avg Household Size
73
Median Age
24%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
2,733
Density / Sq Mi
$50,812
Median Household Income
$29,786
Median Earnings
$1,477
Median Rent
$250,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-2 zoned garden-style center with monument and building signage, abundant parking, and direct access to a main thoroughfare.
Where is this office units located?
The property is located at 10220 W BELL Road Sun City, AZ.
What is the asking price?
The asking price for this property is $5,509,914.
What are key features of this property?
This property features: Garden‑style commercial property zoned C‑2 with Bell Rd frontage; Built in 1983 (Phase I) and 2004 (Phase II), offering single‑story layout; Direct access to Bell Rd, a main east/west thoroughfare
