Three-Suite Office
For Sale
Contact for pricing
11327 W Bell Rd, Surprise, AZ 85378
Office property with C-2 zoning, monument signage, and a defined parking ratio in Maricopa County.
Property Size7,035 SF
Price / SF$326.94
Days on Market1035
Property Features for 11327 W Bell Rd
General Information
Standard status
Active
Size
7,035 SF
Property subtype
OFFICE
Zoning
C-2
Occupancy
53%
Additional Details
Office Units
3
Amenities
Monument Signage
Building Details
Year Built
2001
Parking Ratio
4 per 1,000 SF
Listing Agency:
Commercial Properties Inc
(480) 815-8275
Listed By:
Dallin Pace · License #BR676008000
(480) 815-8275
Source:
Moodyscre
Added: Oct 24, 2023
Changed: Aug 22
Last Checked: Aug 23 at 5:29AM
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.
The property is a three-suite office building totaling 7,035 SF. Built in 2001, it is currently 52.5% occupied and includes monument signage. The office configuration provides three distinct suites within one commercial property at 11327 W Bell Rd in Surprise, Arizona.
The property is zoned C-2 in Maricopa County and has a 4/1,000 parking ratio. These details establish the building’s office layout, occupancy profile, zoning designation, signage, and parking provision.
The property is zoned C-2 in Maricopa County and has a 4/1,000 parking ratio. These details establish the building’s office layout, occupancy profile, zoning designation, signage, and parking provision.
Key Highlights
- 3 suites totaling 7,035 SF
- 52.5% occupied
- Built in 2001
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
$101,405
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
4.41%
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%
$2,028,100
$2.0M
Cap Rate 7%
$1,448,643
$1.4M
Cap Rate 9%
$1,126,722
$1.1M
Market Conditions
NOI Build-Up for 7,035 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
$185.7K $26.40/SF
− Vacancy
−$50.5K −$7.18/SF
EGI
$135.2K $19.22/SF
− OpEx
−$33.8K −$4.80/SF
NOI
$101.4K $14.41/SF
Area
Surprise, AZ
Vacancy
27.20%
Lease Rate
$26.40 /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%
$2,028,100
Cap Rate 7%
$1,448,643
Cap Rate 9%
$1,126,722
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,405 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,865 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
52.5%
Occupancy
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 85378, AZ
9,368
Population
4,671
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
85%
High-School Grad
3.6 sq mi
ZIP Area
2,602
Density / Sq Mi
$62,881
Median Household Income
$39,942
Median Earnings
$1,369
Median Rent
$235,200
Median Home Value
Market
Vacancy Rate% for Office in West region
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 property with C-2 zoning, monument signage, and a defined parking ratio in Maricopa County.
Where is this office building located?
The property is located at 11327 W Bell Rd Surprise, AZ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 3 suites totaling 7,035 SF; 52.5% occupied; Built in 2001
