Restored Historic Office
For Sale
Contact for pricing
112 N Central Avenue 400A, Phoenix, AZ 85004
Renovated office workspace with updated technology, high-speed internet, and flexible options for business users.
Property Size4,947 SF
Price / SF$1.76
Days on Market98
Property Features for 112 N Central Avenue 400A
General Information
Standard status
Active
Size
4,947 SF
Property subtype
Comm/industry Lease
Site & Location
Neighborhood
Central City
Public Transit
Yes
Amenities
upgraded IT infrastructure
high-speed internet
flexible workspace options
Building Details
Year Built
1919
Listing Agency:
West USA Realty
(480) 948-5554
Listed By:
Everardo M Chavez · License #BR657488000
(602) 535-9607
Source:
Kelliesellsaz
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 28 at 8:47AM
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 West USA Realty
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Investment Insights
Based on property information with market context.
The Heard Building provides renovated office suites within a restored historic property dating to 1919. Workspace options are designed for flexibility and include upgraded IT infrastructure and high-speed internet, supporting a range of professional office needs.
The property is located at 112 N Central Avenue, 400A, in downtown Phoenix. City Hall, the Phoenix Convention Center, and light rail are within steps of the building, with dining, transit, and cultural destinations in the surrounding area.
The property is located at 112 N Central Avenue, 400A, in downtown Phoenix. City Hall, the Phoenix Convention Center, and light rail are within steps of the building, with dining, transit, and cultural destinations in the surrounding area.
Key Highlights
- Restored historic building originally constructed in 1919
- Renovated office suites with flexible workspace options
- Upgraded IT infrastructure and high‑speed internet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,686
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,693,720
$1.7M
Cap Rate 7%
$1,209,800
$1.2M
Cap Rate 9%
$940,956
$941.0K
Market Conditions
NOI Build-Up for 4,947 SF
Gross rent
$152.0K $30.72/SF
− Vacancy
−$39.1K −$7.90/SF
EGI
$112.9K $22.82/SF
− OpEx
−$28.2K −$5.71/SF
NOI
$84.7K $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 Rate 5%
$1,693,720
Cap Rate 7%
$1,209,800
Cap Rate 9%
$940,956
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,686 @ 7.0% cap · market cap 973.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,894 @ 7.0% cap · market cap 1,205.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,663
Businesses Nearby
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Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
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Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office unit - Renovated office workspace with updated technology, high-speed internet, and flexible options for business users.
Where is this office unit located?
The property is located at 112 N Central Avenue 400A Phoenix, AZ.
What are key features of this property?
This property features: Restored historic building originally constructed in 1919; Renovated office suites with flexible workspace options; Upgraded IT infrastructure and high‑speed internet
