Phoenix Office/Retail Space For
For Sale
Contact for pricing
4115 N 108th Ave, Phoenix, AZ
Office and retail space available for sale in Phoenix, AZ.
Property Size8,276 SF
Lot Size0.19 Acres
Price / SF$302.08
Days on Market719
Property Features for 4115 N 108th Ave
General Information
Standard status
Active
Size
8,276 SF
Lot size
0.19 Acres
Property subtype
OFFICE
Listing Agency:
Commercial Properties Inc
(480) 966-2301
Listed By:
Paul Fox · License ##SA628495000
(602) 369-9996
Source:
Moodyscre
Added: Sep 24, 2024
Changed: Aug 9
Last Checked: Sep 12 at 5:35AM
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 Commercial Properties Inc
Investment Insights
Based on property information with market context.
This property offers office and retail space for sale in Phoenix, Arizona. The building has a total area of 8,276 square feet.
Key Highlights
- Office / Retail space available
- Location: Phoenix, AZ
- Available for sale
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
$141,675
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
5.67%
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%
$2,833,500
$2.8M
Cap Rate 7%
$2,023,929
$2.0M
Cap Rate 9%
$1,574,167
$1.6M
Market Conditions
NOI Build-Up for 8,276 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
$254.2K $30.72/SF
− Vacancy
−$65.3K −$7.90/SF
EGI
$188.9K $22.82/SF
− OpEx
−$47.2K −$5.71/SF
NOI
$141.7K $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 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%
$2,833,500
Cap Rate 7%
$2,023,929
Cap Rate 9%
$1,574,167
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,675 @ 7.0% cap · market cap 5.67%
Second Best
Retail
$1.34M
$1.17M – $1.56M
NOI $93,537 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$2.51M
$2.19M – $2.92M
NOI $175,481 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office units - Office and retail space available for sale in Phoenix, AZ.
Where is this office units located?
The property is located at 4115 N 108th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Office / Retail space available; Location: Phoenix, AZ; Available for sale
