Multi-Tenant Office
New
For Sale
$1,266,657
1331 N Alma School Rd, Chandler, AZ 85224
Fully leased office property near corporate and retail businesses, with access to Loop 101, Loop 202, and US 60.
Property Size6,284 SF
Price / SF$201.57
Days on Market3
Property Features for 1331 N Alma School Rd
General Information
Standard status
Active
Size
6,284 SF
Class
B
Property subtype
Office
Zoning
PAD
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
6,284 SF
Year Built
1986
Tenancy
Multi
Listing Agency:
(480) 206-4548
Listed By:
Steve Berghoff, SIOR, CCIM
(480) 206-4548
Source:
Menlocre
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 11:53PM
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 Steve Berghoff, SIOR, CCIM
Investment Insights
Based on property information with market context.
This multi-tenant office building contains 6,284 SF and is reported as 100% leased. Constructed in 1986, the property is designated PAD by the City of Chandler, providing a defined land-use framework for the site.
The property is positioned at the southeast corner of Alma School Road and Knox Road in Chandler. Corporate and retail businesses are located nearby, while Loop 101, Loop 202, and US 60 are minutes away. The location places the office asset within an established commercial setting with access to several major regional routes.
The property is positioned at the southeast corner of Alma School Road and Knox Road in Chandler. Corporate and retail businesses are located nearby, while Loop 101, Loop 202, and US 60 are minutes away. The location places the office asset within an established commercial setting with access to several major regional routes.
Key Highlights
- 6,284 SF multi‑tenant office building
- 100% leased occupancy
- PAD zoning designated by the City of Chandler
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
$98,918
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
7.81%
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%
$1,978,360
$2.0M
Cap Rate 7%
$1,413,114
$1.4M
Cap Rate 9%
$1,099,089
$1.1M
Market Conditions
NOI Build-Up for 6,284 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
$163.6K $26.04/SF
− Vacancy
−$31.7K −$5.05/SF
EGI
$131.9K $20.99/SF
− OpEx
−$33.0K −$5.25/SF
NOI
$98.9K $15.74/SF
Area
Chandler, AZ
Vacancy
19.40%
Lease Rate
$26.04 /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%
$1,978,360
Cap Rate 7%
$1,413,114
Cap Rate 9%
$1,099,089
Alternative Uses
Best Use
Office B
$1.41M
$1.24M – $1.65M
NOI $98,918 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,082 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 85224, AZ
46,919
Population
21,559
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
4,991
Density / Sq Mi
$90,886
Median Household Income
$53,408
Median Earnings
$1,785
Median Rent
$391,000
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 - Fully leased office property near corporate and retail businesses, with access to Loop 101, Loop 202, and US 60.
Where is this office building located?
The property is located at 1331 N Alma School Rd Chandler, AZ.
What is the asking price?
The asking price for this property is $1,266,657.
What are key features of this property?
This property features: 6,284 SF multi‑tenant office building; 100% leased occupancy; PAD zoning designated by the City of Chandler
