Move-In Ready Office
For Sale
Contact for pricing
15601 N 40th St, Phoenix, AZ 85032
Move-in ready office building with trophy condition finishes and plenty of covered parking.
Property Size3,400 SF
Price / SF$286.76
Days on Market119
Property Features for 15601 N 40th St
General Information
Standard status
Active
Size
3,400 SF
Class
Trophy
Property subtype
OFFICE
Site & Location
Neighborhood
Paradise Valley
Highway Access
Yes
Amenities
covered parking
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Keri Davies · License #SA649025000
(602) 697-3416
Source:
Moodyscre
Added: Jul 3
Changed: Oct 25
Last Checked: Oct 28 at 10:32AM
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 LevRose Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This move-in ready office building is described as being in trophy condition, suitable for immediate occupancy. The property is offered for sale with oodles of covered parking, supporting day-to-day client and employee access.
The location is described as convenient, just north of Greenway Road and about two blocks from Highway 51.
The offering is positioned for professional services, including law firms, marketing, and real estate uses.
The location is described as convenient, just north of Greenway Road and about two blocks from Highway 51.
The offering is positioned for professional services, including law firms, marketing, and real estate uses.
Key Highlights
- Office in trophy condition with move‑in ready finishes
- Conveniently located just north of Greenway Road and about 2 blocks from Highway 51
- Oodles of covered parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,204
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,164,080
$1.2M
Cap Rate 7%
$831,486
$831.5K
Cap Rate 9%
$646,711
$646.7K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$104.4K $30.72/SF
− Vacancy
−$26.8K −$7.90/SF
EGI
$77.6K $22.82/SF
− OpEx
−$19.4K −$5.71/SF
NOI
$58.2K $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%
$1,164,080
Cap Rate 7%
$831,486
Cap Rate 9%
$646,711
Alternative Uses
Best Use
Office B
$831.5K
$727.6K – $970.1K
NOI $58,204 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$899.3K – $1.20M
NOI $71,942 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
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 building - Move-in ready office building with trophy condition finishes and plenty of covered parking.
Where is this office building located?
The property is located at 15601 N 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Office in trophy condition with move‑in ready finishes; Conveniently located just north of Greenway Road and about 2 blocks from Highway 51; Oodles of covered parking
