Single-Story Office
For Sale
Contact for pricing
11046 North Saguaro Boulevard, Fountain Hills, AZ 85268
The property carries C-N zoning and a 10-year owner lease-back structure.
Property Size3,069 SF
Price / SF$449.66
Days on Market10
Property Features for 11046 North Saguaro Boulevard
General Information
Standard status
Active
Size
3,069 SF
Property subtype
Office
Zoning
C-N
Financials
Asking Price
$3,100,000
Cap Rate
7%
Building Details
Year Built
1998
Buildings
1
Stories
1
Units
1
Building Size
3,069 SF
Tenancy
Single
Listing Agency:
Bellagio Real Estate
Listed By:
Shannon Hall · License #BR117465000
Source:
Crexi
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 21 at 12:14PM
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 Bellagio Real Estate
Investment Insights
Based on property information with market context.
This 3,069-square-foot office property is configured as a single-story building and is designated C-N for zoning purposes. The asset is offered with a 10-year owner lease-back, providing a defined occupancy arrangement for the buyer.
Located at 11046 North Saguaro Boulevard in Fountain Hills, Arizona, the property provides an office-focused commercial setting within the community. The offering reflects a 7% cap rate and a long-term lease structure tied to the existing owner occupancy arrangement.
Located at 11046 North Saguaro Boulevard in Fountain Hills, Arizona, the property provides an office-focused commercial setting within the community. The offering reflects a 7% cap rate and a long-term lease structure tied to the existing owner occupancy arrangement.
Key Highlights
- 3,069 SF single‑story office building
- 10‑year owner lease‑back structure
- 7% cap rate
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
$53,248
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
3.86%
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%
$1,064,960
$1.1M
Cap Rate 7%
$760,686
$760.7K
Cap Rate 9%
$591,644
$591.6K
Market Conditions
NOI Build-Up for 3,069 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
$93.9K $30.60/SF
− Vacancy
−$22.9K −$7.47/SF
EGI
$71.0K $23.13/SF
− OpEx
−$17.7K −$5.78/SF
NOI
$53.2K $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%
$1,064,960
Cap Rate 7%
$760,686
Cap Rate 9%
$591,644
Alternative Uses
Best Use
Office B
$760.7K
$665.6K – $887.5K
NOI $53,248 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$949.3K
$830.7K – $1.11M
NOI $66,453 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 85268, AZ
24,031
Population
13,429
Households
1.8
Avg Household Size
61
Median Age
50%
College-Educated
97%
High-School Grad
20.5 sq mi
ZIP Area
1,172
Density / Sq Mi
$105,288
Median Household Income
$55,054
Median Earnings
$1,781
Median Rent
$576,700
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 building - The property carries C-N zoning and a 10-year owner lease-back structure.
Where is this office building located?
The property is located at 11046 North Saguaro Boulevard Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: 3,069 SF single‑story office building; 10‑year owner lease‑back structure; 7% cap rate
