Three-Building Office
1803 N 40th St, Phoenix, AZ 85008
For Sale
$2,995,000
The office property comprises three buildings and receives revenue from an existing cell tower.
Property Size13,450 SF
Days on Market49
Property Features for 1803 N 40th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Buildings
Listing Agency:
LevRose Commercial Real Estate
Listed By:
Keri Davies · License AZ SA649025000
(602) 697-3416
Source:
Tcnworldwide
Added: Sep 26
Changed: Nov 9
Last Checked: Nov 12 at 6:27AM
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 LevRose Commercial Real Estate
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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.
This Phoenix office property consists of three buildings. The improvements date to 1983, and existing cell tower revenue is also associated with the property.
Located at 1803 N 40th St, the property is in Phoenix, Arizona 85008.
Located at 1803 N 40th St, the property is in Phoenix, Arizona 85008.
Key Highlights
- Three‑building office property
- Built in 1983
- Existing cell tower revenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$230,247
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,604,940
$4.6M
Cap Rate 7%
$3,289,243
$3.3M
Cap Rate 9%
$2,558,300
$2.6M
Market Conditions
NOI Build-Up for 13,450 SF
Gross rent
$413.2K $30.72/SF
− Vacancy
−$106.2K −$7.90/SF
EGI
$307.0K $22.82/SF
− OpEx
−$76.7K −$5.71/SF
NOI
$230.2K $17.12/SF
Area
ZIP 85008
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%
$4,604,940
Cap Rate 7%
$3,289,243
Cap Rate 9%
$2,558,300
Alternative Uses
Best Use
Office B
$3.29M
$2.88M – $3.84M
NOI $230,247 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $290,964 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Phoenix, AZ
Properties on Market for Office buildings in Phoenix
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office building - The office property comprises three buildings and receives revenue from an existing cell tower.
Where is this office building located?
The property is located at 1803 N 40th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Three‑building office property; Built in 1983; Existing cell tower revenue
