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 Market55
Property Features for 16515 S 40th St
General Information
Standard status
Active
Size
2,488 SF
Net Rentable
2,488 SF
Property subtype
OFFICE
Listing Agency:
Colliers | Phoenix
(602) 615-6810
Listed By:
Bob Broyles
(602) 615-6810
Source:
Moodyscre
Added: Jun 8
Changed: Jul 31
Last Checked: Jul 31 at 10:14AM
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
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 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 | $76.4k | $30.72 |
| − Vacancy | −$19.6k | −$7.90 |
| EGI | $56.8k | $22.82 |
| − OpEx | −$14.2k | −$5.71 |
| NOI | $42.6k | $17.12 |
2,488 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
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.
Property 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
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condo offering a dedicated commercial workspace within a professional office development.
Where is this office units 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
