Modern Office Condo
For Sale
$825,000
14269 n 87TH ST - SUITE 205, Scottsdale, AZ 85260
Professional office condo with exposed ceilings, strong natural light, and reserved covered and uncovered parking.
Property Size2,360 SF
Price / SF$349.58
Days on Market54
Property Features for 14269 n 87TH ST - SUITE 205
General Information
Standard status
Active
Size
2,360 SF
Class
B
Total Parking Spaces
5
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
2,360 SF
Year Built
2004
Listing Agency:
(480) 529-6400
Listed By:
James Lieberthal, SIOR · License #AZ #BR516852000
(480) 529-6400
Source:
Cutlercommercial
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 16 at 4:32AM
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 James Lieberthal, SIOR
Investment Insights
Based on property information with market context.
This offering is a modern office condo suite totaling 2,360 SF in a professional office setting. The space features exposed ceilings and an open layout designed to provide plenty of light. The building includes signage on the front, supporting visibility for everyday operations.
The property fronts 101 Freeway, providing direct exposure from a major roadway. Parking is available with 2 covered and 3 uncovered reserved spaces included, with a parking ratio of 5 per 1,000 SF.
This suite is well suited for an owner-operator or professional tenant looking for a finished office environment in a condo-style setup. The combination of a buildout, exposed ceiling design, and dedicated parking makes it straightforward for teams that need ready-to-use space with dependable day-to-day access.
The property fronts 101 Freeway, providing direct exposure from a major roadway. Parking is available with 2 covered and 3 uncovered reserved spaces included, with a parking ratio of 5 per 1,000 SF.
This suite is well suited for an owner-operator or professional tenant looking for a finished office environment in a condo-style setup. The combination of a buildout, exposed ceiling design, and dedicated parking makes it straightforward for teams that need ready-to-use space with dependable day-to-day access.
Key Highlights
- Professional office condo with 2,360 SF in a professional office setting
- Modern buildout with exposed ceilings
- Strong natural light with an open layout
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
$37,363
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
4.53%
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%
$747,260
$747.3K
Cap Rate 7%
$533,757
$533.8K
Cap Rate 9%
$415,144
$415.1K
Market Conditions
NOI Build-Up for 2,360 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
$60.6K $25.68/SF
− Vacancy
−$10.8K −$4.57/SF
EGI
$49.8K $21.11/SF
− OpEx
−$12.5K −$5.28/SF
NOI
$37.4K $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 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%
$747,260
Cap Rate 7%
$533,757
Cap Rate 9%
$415,144
Alternative Uses
Best Use
Office B
$533.8K
$467.0K – $622.7K
NOI $37,363 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$774.7K
$677.9K – $903.9K
NOI $54,231 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 85260, AZ
37,967
Population
21,072
Households
1.8
Avg Household Size
47
Median Age
59%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,674
Density / Sq Mi
$103,854
Median Household Income
$62,835
Median Earnings
$1,969
Median Rent
$637,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office condo with exposed ceilings, strong natural light, and reserved covered and uncovered parking.
Where is this office units located?
The property is located at 14269 n 87TH ST - SUITE 205 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Professional office condo with 2,360 SF in a professional office setting; Modern buildout with exposed ceilings; Strong natural light with an open layout
