Office Unit in Professional
For Sale
Contact for pricing
16515 S 40th St, Phoenix, AZ 85048
Office condo offering a dedicated commercial workspace within a professional office development.
Property Size2,488 SF
Price / SF$333.50
Days on Market148
Property Features for 16515 S 40th St
General Information
Standard status
Active
Size
2,488 SF
Net Rentable
2,488 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Ahwatukee Foothills
Listing Agency:
Colliers | Phoenix
(602) 222-5000
Listed By:
Bob Broyles · License #BR005344000
(602) 615-6810
Source:
Moodyscre
Added: Jun 8
Changed: Oct 25
Last Checked: Nov 1 at 6:59AM
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 Colliers | Phoenix
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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.
Office condo available in Foothills Professional Village at 16515 South 40th Street in Phoenix. Building 9, Unit 121 comprises approximately 2,488 rental square feet and is positioned within a professional office development.
The property provides a defined office unit for an owner-user or office tenant seeking space in the Phoenix market. Its condominium format supports a distinct commercial occupancy within the larger professional village.
The property provides a defined office unit for an owner-user or office tenant seeking space in the Phoenix market. Its condominium format supports a distinct commercial occupancy within the larger professional village.
Key Highlights
- Approximately 2,488 rental square feet
- Office condo in Foothills Professional Village
- Building 9, Unit 121
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,591
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,820
$851.8K
Cap Rate 7%
$608,443
$608.4K
Cap Rate 9%
$473,233
$473.2K
Market Conditions
NOI Build-Up for 2,488 SF
Gross rent
$76.4K $30.72/SF
− Vacancy
−$19.6K −$7.90/SF
EGI
$56.8K $22.82/SF
− OpEx
−$14.2K −$5.71/SF
NOI
$42.6K $17.12/SF
Area
Phoenix, AZ
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%
$851,820
Cap Rate 7%
$608,443
Cap Rate 9%
$473,233
Alternative Uses
Best Use
Office B
$608.4K
$532.4K – $709.9K
NOI $42,591 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$753.6K
$659.4K – $879.3K
NOI $52,755 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 85048, AZ
34,524
Population
14,369
Households
2.4
Avg Household Size
42
Median Age
62%
College-Educated
98%
High-School Grad
10.1 sq mi
ZIP Area
3,418
Density / Sq Mi
$123,198
Median Household Income
$70,210
Median Earnings
$1,995
Median Rent
$538,500
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
Frequently Asked Questions
What type of property is this?
Office unit - Office condo offering a dedicated commercial workspace within a professional office development.
Where is this office unit located?
The property is located at 16515 S 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $829,738.
What are key features of this property?
This property features: Approximately 2,488 rental square feet; Office condo in Foothills Professional Village; Building 9, Unit 121
