Office Building with Flexible
For Sale
Contact for pricing
23200 N Pima Rd, Scottsdale, AZ 85255
Office property with mountain views, building signage along Pima Road, and nearby shops and restaurants.
Property Size11,609 SF
Price / SF$258.42
Days on Market943
Property Features for 23200 N Pima Rd
General Information
Standard status
Active
Size
11,609 SF
Property subtype
OFFICE
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Hunter Chasse · License #SA657832000
(480) 289-4225
Source:
Moodyscre
Added: Apr 4, 2024
Changed: Oct 25
Last Checked: Nov 1 at 8:17AM
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 LevRose Commercial Real Estate
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Investment Insights
Based on property information with market context.
This 11,609-square-foot office building offers flexible floor plan options for a range of office configurations. The property also features sweeping mountain views and an opportunity for building signage along Pima Road.
Located at 23200 N Pima Rd in Scottsdale, the property is within walking distance of shops and restaurants, including AJ’s, Mastro’s, and Preston’s. The surrounding area includes DC Ranch, Grayhawk, Troon, and Silverleaf.
Located at 23200 N Pima Rd in Scottsdale, the property is within walking distance of shops and restaurants, including AJ’s, Mastro’s, and Preston’s. The surrounding area includes DC Ranch, Grayhawk, Troon, and Silverleaf.
Key Highlights
- 11,609‑square‑foot office building
- Flexible floor plan options
- Building signage opportunity along Pima Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,790
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,675,800
$3.7M
Cap Rate 7%
$2,625,571
$2.6M
Cap Rate 9%
$2,042,111
$2.0M
Market Conditions
NOI Build-Up for 11,609 SF
Gross rent
$298.1K $25.68/SF
− Vacancy
−$53.1K −$4.57/SF
EGI
$245.1K $21.11/SF
− OpEx
−$61.3K −$5.28/SF
NOI
$183.8K $15.83/SF
Area
Scottsdale, AZ
Vacancy
17.80%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,675,800
Cap Rate 7%
$2,625,571
Cap Rate 9%
$2,042,111
Alternative Uses
Best Use
Office B
$2.63M
$2.30M – $3.06M
NOI $183,790 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$3.81M
$3.33M – $4.45M
NOI $266,764 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 85255, AZ
44,976
Population
23,016
Households
2
Avg Household Size
51
Median Age
68%
College-Educated
98%
High-School Grad
88.2 sq mi
ZIP Area
510
Density / Sq Mi
$143,567
Median Household Income
$93,339
Median Earnings
$2,401
Median Rent
$975,300
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office property with mountain views, building signage along Pima Road, and nearby shops and restaurants.
Where is this office building located?
The property is located at 23200 N Pima Rd Scottsdale, AZ.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 11,609‑square‑foot office building; Flexible floor plan options; Building signage opportunity along Pima Road
