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    Class A Office Building Title is generated by Realmo AI

    2375 E Camelback Road, Phoenix, AZ 85016

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    Prime business address with modern amenities and convenient access.

    Type:Office
    Property size:
    308,723 SF
    Added:
    Mar 25, 2026
    Days on Market:
    47
    Last Refresh:
    Mar 18 at 9:09 am

    Property Features for 2375 E Camelback Road

    General Information

    Standard status
    Active
    Size
    308,723 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Lauren Lovell
    Lauren Lovell

    Listing agent Lauren Lovell

    Listing office CBRE | Phoenix

    Listing date Mar 25, 2026

    Source Cbre

    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 CBRE | Phoenix

    HighLights

    • Prime location at 24th Street and Camelback Road.
    • LEED Gold, Energy Star, and Fitwell certifications.
    • Class "A" office building with recent renovations completed in 2021.
    • Easy access to major freeways, public transportation, and the airport.
    • Enjoy on‑site amenities including a fitness center and restaurant.
    • Impressive views of the Biltmore Resort, Piestewa Peak, and The Camby.

    Overview

    This eight-story, Class A office building offers approximately 308,723 square feet of space with typical floor plates of approximately 38,603 square feet. Located at the intersection of 24th Street and Camelback Road, the property provides a prominent business address in a business park setting. Renovations were completed in 2021. The building is designated LEED Gold, Energy Star, and Fitwell rated. It features CAT 5 cabling and ISDN, Wired Gold Certification, 24-hour security, and landscaped gardens. A fitness center with luxury showers and lockers is available, along with an on-site restaurant. The location offers convenient in-and-out parking and is easily accessible from I-10, I-17, and SR-60, as well as public transportation. Sky Harbor International Airport is approximately 10 minutes away. The property is near the Phoenix Convention and Visitors Bureau, Camelback Mountain, and various office complexes, including the Esplanade. Banking, retail, personal services, and 21 restaurants are within walking distance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Old Republic Title Title Company Glaxosmithkline Factory Pink Plumbing and Sewer Plumbing Service Overton Pamela M Law Firm Lomax John F Law Firm

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0318643
    Latitude
    33.5081398

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    FAQs

    What type of property is this?
    Office building - Prime business address with modern amenities and convenient access.
    Where is this office building located?
    The property is located at 2375 E Camelback Road Phoenix, AZ.
    What are key features of this property?
    This property features: Prime location at 24th Street and Camelback Road.; LEED Gold, Energy Star, and Fitwell certifications.; Class "A" office building with recent renovations completed in 2021.
    (949) 463-9840
    We can help!
    Listing Contact
    Lauren Lovell
    Lauren Lovell
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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