Freestanding Office with Secured
For Sale
$1,945,000
17150 N 134th Drive, Surprise, AZ 85378
Freestanding office building features private offices, multiple restrooms, and a large fenced, gated secured yard with paved parking.
Property Size5,069 SF
Lot Size1.09 Acres
Price / SF$383.70
Days on Market74
Property Features for 17150 N 134th Drive
General Information
Standard status
Active
Size
5,069 SF
Class
C
Lot size
1.09 Acres
Property subtype
Office
Zoning
C-3
Additional Details
Fenced Yard
Yes
Sprinkler System
Yes
Building Details
Building Size
5,069 SF
Year Built
1999
Listing Agency:
SVN | Desert Commercial Advisors
Listed By:
Jonathan Levy · License #AZ #SA648012000
(623) 556-6420
Source:
Svn
Added: Jun 23
Changed: Sep 4
Last Checked: Aug 22 at 3:43AM
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 SVN | Desert Commercial Advisors
Investment Insights
Based on property information with market context.
This freestanding office property includes approximately 5,069 square feet of building space and a fenced, secured yard totaling about 23,000 square feet, with paved parking. The building is served by an 18.5-foot wide gated and secured entry and offers ample parking in both the front and rear.
Inside, the layout includes multiple private offices, two break rooms, four restrooms, and a large meeting/training room, along with additional open office space. The building is described as sprinklered.
The offering also highlights versatile C-3 zoning and proximity to US-60 Grand Ave and Bell Rd, with close access to Surprise Towne Center Shopping and the City of Surprise Campus.
Inside, the layout includes multiple private offices, two break rooms, four restrooms, and a large meeting/training room, along with additional open office space. The building is described as sprinklered.
The offering also highlights versatile C-3 zoning and proximity to US-60 Grand Ave and Bell Rd, with close access to Surprise Towne Center Shopping and the City of Surprise Campus.
Key Highlights
- Freestanding 5,069 SF building on 1.09 acres with a fenced, gated and secured yard.
- Approx. 23,000 SF secured yard space includes paved parking.
- 18.5' wide gated and secured entry plus ample parking in the front and rear.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,461,340
$1.5M
Cap Rate 7%
$1,043,814
$1.0M
Cap Rate 9%
$811,856
$811.9K
Market Conditions
NOI Build-Up for 5,069 SF
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.
Gross rent
$133.8K $26.40/SF
− Vacancy
−$36.4K −$7.18/SF
EGI
$97.4K $19.22/SF
− OpEx
−$24.4K −$4.80/SF
NOI
$73.1K $14.41/SF
Area
Surprise, AZ
Vacancy
27.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,461,340
Cap Rate 7%
$1,043,814
Cap Rate 9%
$811,856
Alternative Uses
Best Use
Office B
$1.04M
$913.3K – $1.22M
NOI $73,067 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,425 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 85378, AZ
9,368
Population
4,671
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
85%
High-School Grad
3.6 sq mi
ZIP Area
2,602
Density / Sq Mi
$62,881
Median Household Income
$39,942
Median Earnings
$1,369
Median Rent
$235,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building features private offices, multiple restrooms, and a large fenced, gated secured yard with paved parking.
Where is this office building located?
The property is located at 17150 N 134th Drive Surprise, AZ.
What is the asking price?
The asking price for this property is $1,945,000.
What are key features of this property?
This property features: Freestanding 5,069 SF building on 1.09 acres with a fenced, gated and secured yard.; Approx. 23,000 SF secured yard space includes paved parking.; 18.5' wide gated and secured entry plus ample parking in the front and rear.
