Phoenix Office Building For
For Sale
$1,128,000
7509 N 35th Ave, Phoenix, AZ 85051
Office building with newly renovated suites and freeway access.
Property Size5,760 SF
Price / SF$195.83
Days on Market198
Property Features for 7509 N 35th Ave
General Information
Standard status
Active
Size
5,760 SF
Class
C
Property subtype
Office
Building Details
Building Size
5,760 SF
Year Built
1982
Listing Agency:
Commercial Properties Inc.
(602) 549-4676
Listed By:
Craig Trbovich · License #SA571098000
(602) 549-4676
Source:
Cpiaz
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 11 at 5:30AM
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 office building is located on 35th Ave and Glendale Ave in Phoenix, Arizona. The property features frontage on 35th Ave and monument signage. It is situated on a bus route and offers close proximity to the I-17 Freeway. The building includes newly renovated suites. The property size is 5760 square feet. The building is easily divisible, allowing for future growth and rental income potential. This property presents an opportunity for an office owner or user.
Key Highlights
- Newly Renovated Suites
- Building easily divisible for future growth and rental income
- Frontage on 35th Ave with Monument Signage
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
$98,604
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
8.74%
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%
$1,972,080
$2.0M
Cap Rate 7%
$1,408,629
$1.4M
Cap Rate 9%
$1,095,600
$1.1M
Market Conditions
NOI Build-Up for 5,760 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
$176.9K $30.72/SF
− Vacancy
−$45.5K −$7.90/SF
EGI
$131.5K $22.82/SF
− OpEx
−$32.9K −$5.71/SF
NOI
$98.6K $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%
$1,972,080
Cap Rate 7%
$1,408,629
Cap Rate 9%
$1,095,600
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,604 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,133 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Explore this area
Business Placement
Demographics for 85051, AZ
46,123
Population
16,818
Households
2.7
Avg Household Size
34
Median Age
20%
College-Educated
81%
High-School Grad
6.4 sq mi
ZIP Area
7,207
Density / Sq Mi
$63,665
Median Household Income
$38,980
Median Earnings
$1,256
Median Rent
$288,300
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
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 - Office building with newly renovated suites and freeway access.
Where is this office building located?
The property is located at 7509 N 35th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,128,000.
What are key features of this property?
This property features: Newly Renovated Suites; Building easily divisible for future growth and rental income; Frontage on 35th Ave with Monument Signage
