Flex Space with Assigned
For Sale
Contact for pricing
20021 N CAVE CREEK Road 12, Phoenix, AZ 85024
Unit offers common restrooms and adaptable space for office, storage, or service-oriented operations.
Property Size500 SF
Price / SF$1.19
Days on Market104
Property Features for 20021 N CAVE CREEK Road 12
General Information
Standard status
Active
Size
500 SF
Total Parking Spaces
1
Property subtype
Comm/industry Lease
Site & Location
Neighborhood
Paradise Valley
Amenities
common restrooms
Listing Agency:
Century 21 Northwest
(623) 979-0065
Listed By:
Rodica Bartels · License #BR507907000
(602) 448-5228
Source:
Thegouldgroupaz
Added: Jul 17
Changed: Oct 25
Last Checked: Oct 28 at 9:01AM
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 Century 21 Northwest
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Investment Insights
Based on property information with market context.
Unit 12 at 20021 N Cave Creek Road provides 500 square feet of flex space within a vintage commercial property. The layout is positioned for adaptable business use, including a private office, storage, janitorial services, a landscaping business base, or an internet-based auto sales operation. Common restrooms serve occupants and clients.
The property is in Phoenix, Arizona, near a Costco and across from luxury apartment communities. The surrounding development contributes nearby commercial and residential activity. One assigned parking space is included, with parking allocated to individual units.
The property is in Phoenix, Arizona, near a Costco and across from luxury apartment communities. The surrounding development contributes nearby commercial and residential activity. One assigned parking space is included, with parking allocated to individual units.
Key Highlights
- 500 SF flex space at 20021 N Cave Creek Road, Unit 12
- Adaptable commercial unit for office, storage, janitorial, landscaping, or internet‑based auto sales use
- Common restrooms available for occupants and clients
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,145
Suggested Prices Based on Cap Rates
Cap Rate 5%
$62,900
$62.9K
Cap Rate 7%
$44,929
$44.9K
Cap Rate 9%
$34,944
$34.9K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$5.1K $10.20/SF
− Vacancy
−$607 −$1.21/SF
EGI
$4.5K $8.99/SF
− OpEx
−$1.3K −$2.70/SF
NOI
$3.1K $6.29/SF
Area
Phoenix, AZ
Vacancy
11.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$62,900
Cap Rate 7%
$44,929
Cap Rate 9%
$34,944
Alternative Uses
Best Use
Office B
$122.3K
$107.0K – $142.7K
NOI $8,559 @ 7.0% cap · market cap 1,438.49%
Second Best
Flex RnD
$78.4K
$68.6K – $91.5K
NOI $5,491 @ 7.0% cap · market cap 922.86%
Theoretical Best
Office A
$151.5K
$132.5K – $176.7K
NOI $10,602 @ 7.0% cap · market cap 1,781.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 85024, AZ
26,021
Population
11,032
Households
2.4
Avg Household Size
37
Median Age
45%
College-Educated
93%
High-School Grad
11.7 sq mi
ZIP Area
2,224
Density / Sq Mi
$97,759
Median Household Income
$52,441
Median Earnings
$1,813
Median Rent
$430,400
Median Home Value
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Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Flex space - Unit offers common restrooms and adaptable space for office, storage, or service-oriented operations.
Where is this flex space located?
The property is located at 20021 N CAVE CREEK Road 12 Phoenix, AZ.
What are key features of this property?
This property features: 500 SF flex space at 20021 N Cave Creek Road, Unit 12; Adaptable commercial unit for office, storage, janitorial, landscaping, or internet‑based auto sales use; Common restrooms available for occupants and clients
