Office and Medical Buildings For
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16421 N Tatum Blvd, Phoenix, AZ 85032
Two-building office and medical property with long-term tenants.
Property Size23,089 SF
Lot Size1.85 Acres
Price / SF$216.55
Days on Market266
Property Features for 16421 N Tatum Blvd
General Information
Standard status
Active
Size
23,089 SF
Class
B
Lot size
1.85 Acres
Property subtype
Office
Zoning
P-1
Occupancy
89%
Investment Type
Net Lease
Net Operating Income
$358,257
Building Details
Year Built
1999
Buildings
2
Tenancy
Multi
Listing Agency:
Ross Brown Partners, Inc
Listed By:
Kyle Mcginley · License #AZ SA663730000
(480) 362-9507
Source:
Crexi
Added: Jan 13
Changed: Oct 6
Last Checked: Oct 5 at 7:36PM
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 Ross Brown Partners, Inc
Investment Insights
Based on property information with market context.
This commercial real estate offering features two buildings totaling approximately 23,089 square feet. Phase I comprises approximately 8,921 square feet, while Phase II offers approximately 14,168 square feet. The property includes 16 suites suitable for office or medical use. Situated on 1.85 acres, the property benefits from frontage on Tatum Boulevard and has long term tenants.
Key Highlights
- Long term tenants in place
- Great Tatum Blvd. frontage
- Features 16 suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$395,254
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,905,080
$7.9M
Cap Rate 7%
$5,646,486
$5.6M
Cap Rate 9%
$4,391,711
$4.4M
Market Conditions
NOI Build-Up for 23,089 SF
Gross rent
$709.3K $30.72/SF
− Vacancy
−$182.3K −$7.90/SF
EGI
$527.0K $22.82/SF
− OpEx
−$131.8K −$5.71/SF
NOI
$395.3K $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%
$7,905,080
Cap Rate 7%
$5,646,486
Cap Rate 9%
$4,391,711
Alternative Uses
Best Use
Office B
$5.65M
$4.94M – $6.59M
NOI $395,254 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.98M
$6.11M – $8.14M
NOI $488,548 @ 7.0% cap · market cap 9.77%
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
816
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
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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 building - Two-building office and medical property with long-term tenants.
Where is this office building located?
The property is located at 16421 N Tatum Blvd Phoenix, AZ.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Long term tenants in place; Great Tatum Blvd. frontage; Features 16 suites
