Office Suite with Lake
1255 W Rio Salado Parkway Unit 115 Tempe, AZ 85281
1255 W Rio Salado Parkway Unit 115, Tempe, AZ, 85281
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For Sale
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Office suite overlooking Tempe Town Lake with convenient access to Loop 101 and Loop 202.
Property Size2,051 SF
Price / SF$375
Days on Market77
Property Features for 1255 W Rio Salado Parkway Unit 115
General Information
- Standard status
- Active
- Size
- 2,051 SF
- Property subtype
- Office
Building Details
- Year Built
- 2008
Listing agency
Stream Realty Partners
Listed by
Ben Seale · License #SA702155000
Source
Crexi
Added: May 7 Updated: Jul 22 at 12:45PM Checked: Jul 22 at 12:45PM
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 Stream Realty Partners
Investment Insights
Based on property information with market context.
This property includes an office suite (Unit 115) at 1255 W Rio Salado Parkway. The offering is positioned along the Rio Salado corridor and overlooks Tempe Town Lake.
The location provides convenient access to both Loop 101 and Loop 202 freeways. The property is approximately 1.4 miles from Phoenix Sky Harbor International Airport and is described as minutes from the Mill Avenue District, Downtown Tempe, Arizona State University, and Tempe Marketplace, supporting immediate access to nearby dining, retail, and entertainment.
The location provides convenient access to both Loop 101 and Loop 202 freeways. The property is approximately 1.4 miles from Phoenix Sky Harbor International Airport and is described as minutes from the Mill Avenue District, Downtown Tempe, Arizona State University, and Tempe Marketplace, supporting immediate access to nearby dining, retail, and entertainment.
Key Highlights
- Office suite in a 2008‑built property
- Overlooks Tempe Town Lake
- Convenient access to Loop 101 and Loop 202 freeways
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.3k | $30.36 |
| − Vacancy | −$13.4k | −$6.53 |
| EGI | $48.9k | $23.83 |
| − OpEx | −$12.2k | −$5.96 |
| NOI | $36.7k | $17.87 |
2,051 SF · lease $30.36/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$523.7K
$458.3K – $611.0K
NOI $36,660 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.0K
$564.3K – $752.5K
NOI $45,147 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Albert Bednar
Physician
HonorHealth Outpatient Therapy ...
Medical Clinic
Jana Kray
Physician
Matthew Wingate
Physician
Bryce Hilmo, PA-C
Physician
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FAQs
What type of property is this?
Office building - Office suite overlooking Tempe Town Lake with convenient access to Loop 101 and Loop 202.
Where is this office building located?
The property is located at 1255 W Rio Salado Parkway Unit 115 Tempe, AZ.
What is the asking price?
The asking price for this property is $769,125.
What are key features of this property?
This property features: Office suite in a 2008‑built property; Overlooks Tempe Town Lake; Convenient access to Loop 101 and Loop 202 freeways
