Single-Story Office
New
For Sale
$644,000
10920 North Tatum Boulevard, Phoenix, AZ 85028
Private-office layout includes reception, waiting, restroom, break, and storage areas for professional operations.
Property Size1,614 SF
Price / SF$399.01
Days on Market2
Property Features for 10920 North Tatum Boulevard
General Information
Standard status
Active
Size
1,614 SF
Class
B
Property subtype
Office - General Office
Zoning
R-O
Additional Details
Highway Access
Yes
Building Details
Building Size
1,614 SF
Year Built
2003
Stories
1
Listing Agency:
R.O.I. Properties
Listed By:
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 8:52PM
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 R.O.I. Properties
Investment Insights
Based on property information with market context.
This 1,614-square-foot office condominium occupies a single-story suite within a small office condo complex. Built in 2003 and zoned Residential Office & Restricted Commercial (R-O), the unit is arranged around multiple private offices with a reception and waiting area, restroom, break area, and storage closet. The layout contains limited open workspace and emphasizes enclosed offices throughout.
The property is located at 10920 North Tatum Boulevard in Phoenix, within the Paradise Valley office submarket. Access to SR-51 and proximity to central Phoenix, Scottsdale, and the Town of Paradise Valley place the suite within an established office corridor. Covered reserved parking is included, with additional unreserved surface spaces available for employees and visitors. The configuration has been identified as suitable for medical, consulting, legal, financial, and other professional office operations.
The property is located at 10920 North Tatum Boulevard in Phoenix, within the Paradise Valley office submarket. Access to SR-51 and proximity to central Phoenix, Scottsdale, and the Town of Paradise Valley place the suite within an established office corridor. Covered reserved parking is included, with additional unreserved surface spaces available for employees and visitors. The configuration has been identified as suitable for medical, consulting, legal, financial, and other professional office operations.
Key Highlights
- 1,614 SF single‑story office condominium
- Built in 2003; zoned Residential Office & Restricted Commercial (R‑O)
- Multiple private offices with reception and waiting area
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
$27,630
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
4.29%
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%
$552,600
$552.6K
Cap Rate 7%
$394,714
$394.7K
Cap Rate 9%
$307,000
$307.0K
Market Conditions
NOI Build-Up for 1,614 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
$49.6K $30.72/SF
− Vacancy
−$12.7K −$7.90/SF
EGI
$36.8K $22.82/SF
− OpEx
−$9.2K −$5.71/SF
NOI
$27.6K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /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%
$552,600
Cap Rate 7%
$394,714
Cap Rate 9%
$307,000
Alternative Uses
Best Use
Office B
$394.7K
$345.4K – $460.5K
NOI $27,630 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$488.9K
$427.8K – $570.4K
NOI $34,223 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,863
Businesses Nearby
Explore this area
Business Placement
Demographics for 85028, AZ
19,888
Population
8,642
Households
2.3
Avg Household Size
48
Median Age
56%
College-Educated
97%
High-School Grad
6.9 sq mi
ZIP Area
2,882
Density / Sq Mi
$119,436
Median Household Income
$69,819
Median Earnings
$1,832
Median Rent
$583,000
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Private-office layout includes reception, waiting, restroom, break, and storage areas for professional operations.
Where is this office units located?
The property is located at 10920 North Tatum Boulevard Phoenix, AZ.
What is the asking price?
The asking price for this property is $644,000.
What are key features of this property?
This property features: 1,614 SF single‑story office condominium; Built in 2003; zoned Residential Office & Restricted Commercial (R‑O); Multiple private offices with reception and waiting area
