Recently Renovated Office
15601 N 40th St Phoenix, AZ 85032
15601 N 40th St, Phoenix, AZ, 85032
$1,400,000
For Sale
$1,400,000
Renovated 3,430-square-foot office condo along 40th Street, north of Greenway Rd, in North Paradise Valley.
Property Size3,430 SF
Price / SF$408.16
Days on Market153
Property Features for 15601 N 40th St
General Information
- Standard status
- Active
- Size
- 3,430 SF
- Property subtype
- Multi Tenant Office
Listing agency
R.O.I. Properties
(602) 319-1326
Listed by
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 20 at 11:47PM Checked: Jul 21 at 3:02AM
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 R.O.I. Properties
Investment Insights
Based on property information with market context.
The subject property is a 3,430-square-foot office condo located along 40th Street, just north of Greenway Rd. The space has been recently renovated and is up to date with the latest finishes, offering a turn-key option for office use. The owner is currently occupying the condo, and it is expected to be delivered vacant at close of escrow.
The property is located within the North Paradise Valley office submarket. It is presented as suitable for either medical or general office users.
As an office condo, the building is configured for professional use within a dedicated suite setting, providing a defined workplace footprint for an incoming tenant or buyer.
The property is located within the North Paradise Valley office submarket. It is presented as suitable for either medical or general office users.
As an office condo, the building is configured for professional use within a dedicated suite setting, providing a defined workplace footprint for an incoming tenant or buyer.
Key Highlights
- Renovated 3,430‑square‑foot office condo on 40th Street, just north of Greenway Rd
- Located in the North Paradise Valley office submarket
- Suitable for medical or general office users
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.4k | $30.72 |
| − Vacancy | −$27.1k | −$7.90 |
| EGI | $78.3k | $22.82 |
| − OpEx | −$19.6k | −$5.71 |
| NOI | $58.7k | $17.12 |
3,430 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$838.8K
$734.0K – $978.6K
NOI $58,717 @ 7.0% cap · market cap 4.19%
Second Best
Healthcare Medical
$698.5K
$611.2K – $815.0K
NOI $48,898 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.04M
$907.2K – $1.21M
NOI $72,577 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Artplay, LLC
Counselor
Statewide Insurance Corporation
Insurance Agency
Kids in Focus
Charitable Organization
Tomko Design
Marketing & Advertising
Sukyo Mahikari
Church
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Renovated 3,430-square-foot office condo along 40th Street, north of Greenway Rd, in North Paradise Valley.
Where is this office units located?
The property is located at 15601 N 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Renovated 3,430‑square‑foot office condo on 40th Street, just north of Greenway Rd; Located in the North Paradise Valley office submarket; Suitable for medical or general office users
