Three-Unit Office Condo
For Sale
$1,670,000
142-4550 E Bell Rd, Phoenix, AZ 85023
Professional office configuration with potential for medical office conversion.
Property Size6,003 SF
Price / SF$278.19
Days on Market15
Property Features for 142-4550 E Bell Rd
General Information
Standard status
Active
Size
6,003 SF
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$13,701
Listing Agency:
Libertas Real Estate
(602) 800-4042
Listed By:
Ian Johnson
(602) 800-4042
Source:
Exprealty
Added: Jul 26
Changed: Aug 9
Last Checked: Aug 9 at 7:00AM
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 Libertas Real Estate
Investment Insights
Based on property information with market context.
This offering comprises three separately platted office condominium units within Building 4: Suites 136, 139, and 142. The units are being offered together rather than as individual sales, and the current use is professional office space. Each unit carries its own APN, providing distinct parcel identification within the condominium structure.
The property is located at 142-4550 E Bell Rd in Phoenix, within minutes of Mayo Clinic, Abrazo Scottsdale, HonorHealth, and other healthcare providers serving the North Phoenix, Paradise Valley, and Desert Ridge corridor. The existing office configuration may support evaluation for a medical office conversion, subject to the buyer’s selected build-out and due diligence.
The property is located at 142-4550 E Bell Rd in Phoenix, within minutes of Mayo Clinic, Abrazo Scottsdale, HonorHealth, and other healthcare providers serving the North Phoenix, Paradise Valley, and Desert Ridge corridor. The existing office configuration may support evaluation for a medical office conversion, subject to the buyer’s selected build-out and due diligence.
Key Highlights
- Three individually platted office condo units in Building 4
- Suites 136, 139, and 142 offered together, not individually
- Current professional office use
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
$102,764
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
6.15%
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%
$2,055,280
$2.1M
Cap Rate 7%
$1,468,057
$1.5M
Cap Rate 9%
$1,141,822
$1.1M
Market Conditions
NOI Build-Up for 6,003 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
$184.4K $30.72/SF
− Vacancy
−$47.4K −$7.90/SF
EGI
$137.0K $22.82/SF
− OpEx
−$34.3K −$5.71/SF
NOI
$102.8K $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%
$2,055,280
Cap Rate 7%
$1,468,057
Cap Rate 9%
$1,141,822
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,764 @ 7.0% cap · market cap 6.15%
Second Best
Healthcare Medical
$1.22M
$1.07M – $1.43M
NOI $85,579 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,285 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 85023, AZ
35,241
Population
14,765
Households
2.4
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
7.4 sq mi
ZIP Area
4,762
Density / Sq Mi
$72,442
Median Household Income
$43,936
Median Earnings
$1,429
Median Rent
$359,200
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
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 units - Professional office configuration with potential for medical office conversion.
Where is this office units located?
The property is located at 142-4550 E Bell Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,670,000.
What are key features of this property?
This property features: Three individually platted office condo units in Building 4; Suites 136, 139, and 142 offered together, not individually; Current professional office use
