Single-Story Office
For Sale
Contact for pricing
15255 N 40th St, Phoenix, AZ 85032
Office suite with reception, bullpen, conference room, and break room, plus one covered reserved parking space.
Property Size1,516 SF
Price / SF$375
Days on Market288
Property Features for 15255 N 40th St
General Information
Standard status
Active
Size
1,516 SF
Total Parking Spaces
1
Property subtype
OFFICE
Building Details
Stories
1
Listing Agency:
SVN | Desert Commercial Advisors
(480) 425-5500
Listed By:
Justin Horwitz · License #SA562459000
(480) 220-2674
Source:
Moodyscre
Added: Dec 2, 2025
Changed: Sep 16
Last Checked: Sep 15 at 6:42AM
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 SVN | Desert Commercial Advisors
Investment Insights
Based on property information with market context.
This single-story office suite totals approximately 1,516 SF and is configured with a large reception area, one en-suite restroom, four offices, a large bullpen area, a conference room, and a large break room. The suite also includes one covered, reserved parking space.
The property is located at 15255 N 40th St in the Paradise Valley submarket of North Phoenix. It is offered for sale or lease, with the layout designed to support professional office use.
The interior plan combines both front-of-house reception space and back-office work areas, with private office rooms, a shared bullpen, and dedicated conference and break spaces.
The property is located at 15255 N 40th St in the Paradise Valley submarket of North Phoenix. It is offered for sale or lease, with the layout designed to support professional office use.
The interior plan combines both front-of-house reception space and back-office work areas, with private office rooms, a shared bullpen, and dedicated conference and break spaces.
Key Highlights
- Totaling approximately 1,516 SF
- Large reception area plus conference room
- One en‑suite restroom
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
$25,952
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
4.56%
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%
$519,040
$519.0K
Cap Rate 7%
$370,743
$370.7K
Cap Rate 9%
$288,356
$288.4K
Market Conditions
NOI Build-Up for 1,516 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
$46.6K $30.72/SF
− Vacancy
−$12.0K −$7.90/SF
EGI
$34.6K $22.82/SF
− OpEx
−$8.7K −$5.71/SF
NOI
$26.0K $17.12/SF
Area
ZIP 85032
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%
$519,040
Cap Rate 7%
$370,743
Cap Rate 9%
$288,356
Alternative Uses
Best Use
Office B
$370.7K
$324.4K – $432.5K
NOI $25,952 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$458.3K
$401.0K – $534.6K
NOI $32,078 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 85032, AZ
68,710
Population
30,386
Households
2.3
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
5,541
Density / Sq Mi
$74,331
Median Household Income
$44,790
Median Earnings
$1,492
Median Rent
$387,900
Median Home Value
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Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office units - Office suite with reception, bullpen, conference room, and break room, plus one covered reserved parking space.
Where is this office units located?
The property is located at 15255 N 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $568,500.
What are key features of this property?
This property features: Totaling approximately 1,516 SF; Large reception area plus conference room; One en‑suite restroom
