Suite 160 Office
For Sale
Contact for pricing
202 E Earll Dr, Phoenix, AZ 85012
Ground-floor suite in Earl Professional Plaza, currently used as a law firm office and described as move-in ready.
Property Size5,606 SF
Price / SF$235.46
Days on Market701
Property Features for 202 E Earll Dr
General Information
Standard status
Active
Size
5,606 SF
Property subtype
OFFICE
Additional Details
Floor
Ground Floor
Building Details
Tenancy
Single
Listing Agency:
Colliers | Phoenix
(602) 222-5000
Listed By:
John Barnes · License #BRO26952000
(602) 751-8455
Source:
Moodyscre
Added: Oct 16, 2024
Changed: Sep 7
Last Checked: Sep 15 at 5:48AM
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 Colliers | Phoenix
Investment Insights
Based on property information with market context.
Suite 160 at the Earl Professional Plaza is an office condominium suite offered for sale at 202 E Earll Dr, Phoenix, AZ 85012. The space is currently used as a law firm office and is positioned on the ground floor lobby as you enter the building.
The suite is described as “move-in ready” and is located conveniently near the visitor parking, which can support client visits and day-to-day access. The layout is presented as efficiently designed for office use.
This ground-floor office suite may be suitable for businesses looking for a move-in ready space in a professionally oriented office condominium setting, with straightforward access from the lobby and proximity to visitor parking.
The suite is described as “move-in ready” and is located conveniently near the visitor parking, which can support client visits and day-to-day access. The layout is presented as efficiently designed for office use.
This ground-floor office suite may be suitable for businesses looking for a move-in ready space in a professionally oriented office condominium setting, with straightforward access from the lobby and proximity to visitor parking.
Key Highlights
- Office condominium suite for sale: Suite 160 at Earl Professional Plaza
- Ground‑floor lobby location as you enter the building
- Currently used as a law firm office
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
$95,968
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
7.27%
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%
$1,919,360
$1.9M
Cap Rate 7%
$1,370,971
$1.4M
Cap Rate 9%
$1,066,311
$1.1M
Market Conditions
NOI Build-Up for 5,606 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
$172.2K $30.72/SF
− Vacancy
−$44.3K −$7.90/SF
EGI
$128.0K $22.82/SF
− OpEx
−$32.0K −$5.71/SF
NOI
$96.0K $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%
$1,919,360
Cap Rate 7%
$1,370,971
Cap Rate 9%
$1,066,311
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $95,968 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,867 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 85012, AZ
8,201
Population
5,269
Households
1.6
Avg Household Size
39
Median Age
60%
College-Educated
95%
High-School Grad
2.3 sq mi
ZIP Area
3,566
Density / Sq Mi
$80,242
Median Household Income
$57,228
Median Earnings
$1,693
Median Rent
$701,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Ground-floor suite in Earl Professional Plaza, currently used as a law firm office and described as move-in ready.
Where is this office units located?
The property is located at 202 E Earll Dr Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,320,000.
What are key features of this property?
This property features: Office condominium suite for sale: Suite 160 at Earl Professional Plaza; Ground‑floor lobby location as you enter the building; Currently used as a law firm office
