Recently Renovated Office
For Sale
$1,400,000
15601 N 40th St, Phoenix, AZ 85032
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 Market250
Property Features for 15601 N 40th St
General Information
Standard status
Active
Size
3,430 SF
Class
B
Property subtype
Multi Tenant Office
Site & Location
Neighborhood
Paradise Valley
Building Details
Building Size
3,430 SF
Listing Agency:
R.O.I. Properties
Listed By:
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 25
Last Checked: Oct 24 at 1:26PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,717
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,340
$1.2M
Cap Rate 7%
$838,814
$838.8K
Cap Rate 9%
$652,411
$652.4K
Market Conditions
NOI Build-Up for 3,430 SF
Gross rent
$105.4K $30.72/SF
− Vacancy
−$27.1K −$7.90/SF
EGI
$78.3K $22.82/SF
− OpEx
−$19.6K −$5.71/SF
NOI
$58.7K $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 Rate 5%
$1,174,340
Cap Rate 7%
$838,814
Cap Rate 9%
$652,411
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 authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
480
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office unit - Renovated 3,430-square-foot office condo along 40th Street, north of Greenway Rd, in North Paradise Valley.
Where is this office unit 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
