Office Unit with Private
For Sale
$639,999
2302 N Central Ave Unit 160, Phoenix, AZ 85004
Flexible workspace includes a private bathroom, dedicated storage, and a custom kitchen for immediate business use.
Property Size1,525 SF
Price / SF$419.67
Days on Market467
Property Features for 2302 N Central Ave Unit 160
General Information
Standard status
Active
Size
1,525 SF
Property subtype
Commercial
Amenities
heated Pool
gas BBQ's
gym
sauna
clubhouse
Building Details
Year Built
2007
Listing Agency:
Versatile Properties
(602) 687-9933
Listed By:
Eric Lambert · License #SA680077000
Source:
Searchphxproperties
Added: May 20, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:33AM
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 Versatile Properties
Investment Insights
Based on property information with market context.
This 1,525-square-foot office unit at 2302 N Central Ave, Unit 160, provides four private offices, a private bathroom, secured storage, and a custom kitchen. The interior combines stained concrete flooring, tall exposed ceilings, large windows, and stainless steel appliances, including an espresso machine. Built in 2007, the space is configured for immediate business use.
The property is located on Central Avenue in Phoenix and is attached to Tapestry on Central, a residential community with 280 units. The office includes access to community amenities such as a heated pool, gas BBQs, gym, sauna, and clubhouse.
The property is located on Central Avenue in Phoenix and is attached to Tapestry on Central, a residential community with 280 units. The office includes access to community amenities such as a heated pool, gas BBQs, gym, sauna, and clubhouse.
Key Highlights
- 1,525‑square‑foot office unit at 2302 N Central Ave, Unit 160, Phoenix, AZ 85004
- Four private offices plus a private bathroom and secured extra storage
- Custom kitchen with high‑end stainless steel appliances and an espresso machine
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
$26,106
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
4.08%
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%
$522,120
$522.1K
Cap Rate 7%
$372,943
$372.9K
Cap Rate 9%
$290,067
$290.1K
Market Conditions
NOI Build-Up for 1,525 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
$46.8K $30.72/SF
− Vacancy
−$12.0K −$7.90/SF
EGI
$34.8K $22.82/SF
− OpEx
−$8.7K −$5.71/SF
NOI
$26.1K $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%
$522,120
Cap Rate 7%
$372,943
Cap Rate 9%
$290,067
Alternative Uses
Best Use
Office B
$372.9K
$326.3K – $435.1K
NOI $26,106 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$461.9K
$404.2K – $538.9K
NOI $32,335 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible workspace includes a private bathroom, dedicated storage, and a custom kitchen for immediate business use.
Where is this office units located?
The property is located at 2302 N Central Ave Unit 160 Phoenix, AZ.
What is the asking price?
The asking price for this property is $639,999.
What are key features of this property?
This property features: 1,525‑square‑foot office unit at 2302 N Central Ave, Unit 160, Phoenix, AZ 85004; Four private offices plus a private bathroom and secured extra storage; Custom kitchen with high‑end stainless steel appliances and an espresso machine
