Freestanding Office
For Sale
$499,000
3602 N 15TH Avenue, Phoenix, AZ 85015
Freestanding office building with eight private offices, conference room, and breakroom on a large R-4 lot.
Property Size1,837 SF
Days on Market555
Property Features for 3602 N 15TH Avenue
General Information
Standard status
Active
Size
1,837 SF
Property subtype
COMMERCIAL
Site & Location
Neighborhood
Encanto
Taxes and HOA fees
Annual Taxes
$4,979
Building Details
Building Size
1,837 SF
Year Built
1957
Listing Agency:
Compass
Listed By:
Blake Mallery · License #SA680838000
(602) 851-7677
Source:
Jcluxuryresidential
Added: Apr 21, 2025
Changed: Oct 25
Last Checked: Oct 27 at 1:11AM
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 Compass
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Investment Insights
Based on property information with market context.
This freestanding office building offers a well-laid-out interior designed for professional use. The approximately 1,836 SF space includes eight private offices, a conference room, and a breakroom, supporting a variety of general office or professional service operations.
The property sits on a 14,215 SF lot and is zoned R-4. It is located at 3602 N 15th Ave in Phoenix, with seller financing available.
The property sits on a 14,215 SF lot and is zoned R-4. It is located at 3602 N 15th Ave in Phoenix, with seller financing available.
Key Highlights
- 1,836 SF freestanding office building with a layout designed for professional office use
- Interior includes eight private offices plus a conference room and breakroom
- Located on a 14,215 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,447
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,940
$628.9K
Cap Rate 7%
$449,243
$449.2K
Cap Rate 9%
$349,411
$349.4K
Market Conditions
NOI Build-Up for 1,837 SF
Gross rent
$56.4K $30.72/SF
− Vacancy
−$14.5K −$7.90/SF
EGI
$41.9K $22.82/SF
− OpEx
−$10.5K −$5.71/SF
NOI
$31.4K $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%
$628,940
Cap Rate 7%
$449,243
Cap Rate 9%
$349,411
Alternative Uses
Best Use
Office B
$449.2K
$393.1K – $524.1K
NOI $31,447 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.4K
$486.9K – $649.2K
NOI $38,951 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
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 building - Freestanding office building with eight private offices, conference room, and breakroom on a large R-4 lot.
Where is this office building located?
The property is located at 3602 N 15TH Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,836 SF freestanding office building with a layout designed for professional office use; Interior includes eight private offices plus a conference room and breakroom; Located on a 14,215 SF lot
