Single-Level Office
For Sale
$675,000
Pending
10555 N 114TH Street 103, Scottsdale, AZ 85259
Flexible workspace combines private offices, open areas, and a dedicated kitchen-conference room.
Property Size2,202 SF
Days on Market324
Property Features for 10555 N 114TH Street 103
General Information
Standard status
Pending
Size
2,202 SF
Total Parking Spaces
4
Property subtype
Commercial/Industrial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,483
Amenities
kitchen/conference room
storage
restrooms
outdoor patio
Building Details
Year Built
2001
Stories
1
Listing Agency:
Realty Executives Arizona Territory
(406) 580-8885
Listed By:
Jeff Hritsco · License #BR643460000
(406) 580-8885
Source:
Exitrealty
Added: Oct 14, 2025
Changed: Aug 31
Last Checked: Aug 30 at 8:53AM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This 2,202-square-foot office unit occupies a single-level layout built in 2001. The interior combines enclosed private offices with adaptable open workspace, supported by a substantial kitchen and conference area. Additional features include generous storage, spacious restrooms, and an oversized outdoor patio.
The property is positioned at Shea and Frank Lloyd Wright Boulevard in Scottsdale, with access from a high-traffic boulevard. Four dedicated covered parking spaces convey with the unit, providing reserved on-site parking for occupants and visitors. The configuration supports professional office operations and flexible workplace arrangements within a recognizable Scottsdale business setting.
The property is positioned at Shea and Frank Lloyd Wright Boulevard in Scottsdale, with access from a high-traffic boulevard. Four dedicated covered parking spaces convey with the unit, providing reserved on-site parking for occupants and visitors. The configuration supports professional office operations and flexible workplace arrangements within a recognizable Scottsdale business setting.
Key Highlights
- 2,202‑square‑foot single‑level office unit built in 2001
- Four dedicated covered parking spaces convey with the property
- Layout includes private offices and adaptable open workspace
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
$34,861
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
5.16%
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%
$697,220
$697.2K
Cap Rate 7%
$498,014
$498.0K
Cap Rate 9%
$387,344
$387.3K
Market Conditions
NOI Build-Up for 2,202 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
$56.5K $25.68/SF
− Vacancy
−$10.1K −$4.57/SF
EGI
$46.5K $21.11/SF
− OpEx
−$11.6K −$5.28/SF
NOI
$34.9K $15.83/SF
Area
Scottsdale, AZ
Vacancy
17.80%
Lease Rate
$25.68 /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%
$697,220
Cap Rate 7%
$498,014
Cap Rate 9%
$387,344
Alternative Uses
Best Use
Office B
$498.0K
$435.8K – $581.0K
NOI $34,861 @ 7.0% cap · market cap 5.16%
Second Best
Industrial
$435.2K
$380.8K – $507.8K
NOI $30,466 @ 7.0% cap · market cap 4.51%
Theoretical Best
Retail
$722.9K
$632.5K – $843.3K
NOI $50,600 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 85259, AZ
22,548
Population
10,864
Households
2.1
Avg Household Size
51
Median Age
69%
College-Educated
99%
High-School Grad
20.7 sq mi
ZIP Area
1,089
Density / Sq Mi
$145,574
Median Household Income
$80,502
Median Earnings
$1,769
Median Rent
$956,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible workspace combines private offices, open areas, and a dedicated kitchen-conference room.
Where is this office units located?
The property is located at 10555 N 114TH Street 103 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,202‑square‑foot single‑level office unit built in 2001; Four dedicated covered parking spaces convey with the property; Layout includes private offices and adaptable open workspace
