Single-Tenant Office Condo
16841 N 31st Ave Bldg 4 Ste 131, Phoenix, AZ 85053
Leased office condo in high-demand Deer Valley/Airport submarket.
Type:Office
Property size:
1,381 SFPrice / SF:
$248/SF- Added:
- Oct 31, 2025
- Days on Market:
- 240
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 16841 N 31st Ave Bldg 4 Ste 131
General Information
- Standard status
- Active
- Size
- 1,381 SF
- Property subtype
- Office
Listing office Commercial Properties Inc.
Listing date Oct 31, 2025
Source Crexi
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 Commercial Properties Inc.
HighLights
- 100% leased to Caring Presence Home Care, a premier Arizona‑based healthcare provider with a 37‑year operating history
- Located in the high‑demand Deer Valley/Airport submarket with immediate access to I‑17 and Loop 101 freeways
- Offers a secure 6.00% capitalization rate based on the 2026 Net Operating Income of $20,556.10
- Priced at $342,601.67 ($248.08/SF) and remodeled in 2021
- Located in a submarket with strong 2.8% 12‑month rent growth and zero new office construction
- Ideal passive investment suited for a 1031 exchange or hands‑off investor
Overview
This is a 1,381 square foot single-tenant office condo located in the Bell Canyon Offices park. The property is 100% leased to Caring Presence Home Care, an Arizona-based healthcare provider with a 37-year operating history. The tenant is on a 60-month, Modified Gross lease. The property offers a 6.00% capitalization rate based on the 2026 Net Operating Income of $20,556.10. The property features a functional layout that was remodeled in 2021. It is situated in the Deer Valley/Airport submarket, with access to the I-17 and Loop 101 freeways, placing it at the center of an employment hub. Major corporations like Honeywell, Cigna, and USAA are located nearby, as well as the Phoenix Deer Valley Airport. The area is also near the $165B TSMC semiconductor campus. The submarket has strong 2.8% 12-month rent growth and zero new office construction.
Local 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 | $42.4k | $30.72 |
| − Vacancy | −$10.9k | −$7.90 |
| EGI | $31.5k | $22.82 |
| − OpEx | −$7.9k | −$5.71 |
| NOI | $23.6k | $17.12 |
1,381 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$337.7K
$295.5K – $394.0K
NOI $23,641 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$418.3K
$366.0K – $488.0K
NOI $29,282 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Nicholas Werth
Physician
Pinnacle Ear Nose ...
Medical Clinic
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.0150723
- Latitude
- 33.6394792
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Leased office condo in high-demand Deer Valley/Airport submarket.
Where is this office units located?
The property is located at 16841 N 31st Ave Bldg 4 Ste 131 Phoenix, AZ.
What is the asking price?
The asking price for this property is $342,601.
What are key features of this property?
This property features: 100% leased to Caring Presence Home Care, a premier Arizona‑based healthcare provider with a 37‑year operating history; Located in the high‑demand Deer Valley/Airport submarket with immediate access to I‑17 and Loop 101 freeways; Offers a secure 6.00% capitalization rate based on the 2026 Net Operating Income of $20,556.10
