Medical Office with Covered
For Sale
Contact for pricing
15601 N 40th St, Phoenix, AZ 85032
Recently renovated office building with 14 covered parking spaces and a flexible layout for private offices.
Property Size3,430 SF
Price / SF$395.04
Days on Market80
Property Features for 15601 N 40th St
General Information
Standard status
Active
Size
3,430 SF
Total Parking Spaces
14
Property subtype
OFFICE
Listing Agency:
R.O.I. Properties
(602) 319-1326
Listed By:
Beth Jo Zeitzer · License #SA697209000
Source:
Moodyscre
Added: May 14
Changed: Jul 28
Last Checked: Jul 31 at 12:08PM
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.
This recently renovated office building offers updated, contemporary finishes throughout. The property includes 14 covered parking spaces and a flexible layout that can support approximately 8 to 10 private offices.
Located in North Phoenix just north of Greenway, the building is positioned for strong visibility. The space is described as suitable for medical or general office use, with an owner-user ready-to-occupy option.
For touring, please schedule with the broker(s) and do not disturb the occupant.
Located in North Phoenix just north of Greenway, the building is positioned for strong visibility. The space is described as suitable for medical or general office use, with an owner-user ready-to-occupy option.
For touring, please schedule with the broker(s) and do not disturb the occupant.
Key Highlights
- Recently renovated office building with updated, contemporary finishes throughout
- Flexible office layout expandable to approximately 8 to 10 private offices
- Ideal for medical or general office use
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 4.33%
Second Best
Healthcare Medical
$698.5K
$611.2K – $815.0K
NOI $48,898 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$1.04M
$907.2K – $1.21M
NOI $72,577 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Savard Benjamin DVM — 4022 E Greenway Rd APT 7, Phoenix, AZ 85032
- All Creatures Animal Clinic — 4022 E Greenway Rd APT 7, Phoenix, AZ 85032
- Dr. Eric Roberts — 4022 E Greenway Rd APT 7, Phoenix, AZ 85032
- White Timothy DVM — 4022 E Greenway Rd APT 7, Phoenix, AZ 85032
- Dr. Kelly's Surgical Unit - North Phoenix — 4727 E Bell Rd #11, Phoenix, AZ 85032
Frequently Asked Questions
What type of property is this?
Medical Office Space - Recently renovated office building with 14 covered parking spaces and a flexible layout for private offices.
Where is this medical office space located?
The property is located at 15601 N 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,355,000.
What are key features of this property?
This property features: Recently renovated office building with updated, contemporary finishes throughout; Flexible office layout expandable to approximately 8 to 10 private offices; Ideal for medical or general office use
