Tenant-Occupied Office
New
For Sale
$570,829
20100 N 51st Ave Unit F-610, Glendale, AZ 85308
A single-tenant space in Escuda Office Plaza has a lease extending through 2029.
Property Size1,477 SF
Days on Market2
Property Features for 20100 N 51st Ave Unit F-610
General Information
Standard status
Active
Size
1,477 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,477 SF
Listed By:
Stuart Milne, SIOR | CCIM
(480) 236-9511
Source:
Menlocre
Added: Sep 30
Last Checked: Oct 1 at 9:31AM
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 Stuart Milne, SIOR | CCIM
Investment Insights
Based on property information with market context.
This 1,477-square-foot office suite is in Building F of Escuda Office Plaza and is occupied by American Family Insurance – Bill Tufarelli Agency Inc. The lease runs through December 31, 2029, and includes scheduled annual increases to base rent. The tenant also makes monthly reimbursements for project expenses, and the lease carries a personal guarantee.
The property is in Glendale, Arizona, with access near Loop 101 and N 51st Avenue. Two covered parking spaces, numbered 43 and 44, are reserved for the suite.
The property is in Glendale, Arizona, with access near Loop 101 and N 51st Avenue. Two covered parking spaces, numbered 43 and 44, are reserved for the suite.
Key Highlights
- 1,477‑square‑foot office suite in Escuda Office Plaza, Building F
- Occupied by American Family Insurance – Bill Tufarelli Agency Inc.
- Lease term extends through December 31, 2029, with scheduled annual base rent increases
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
$22,665
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
3.97%
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%
$453,300
$453.3K
Cap Rate 7%
$323,786
$323.8K
Cap Rate 9%
$251,833
$251.8K
Market Conditions
NOI Build-Up for 1,477 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
$39.0K $26.40/SF
− Vacancy
−$8.8K −$5.94/SF
EGI
$30.2K $20.46/SF
− OpEx
−$7.6K −$5.12/SF
NOI
$22.7K $15.35/SF
Area
Glendale, AZ
Vacancy
22.50%
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%
$453,300
Cap Rate 7%
$323,786
Cap Rate 9%
$251,833
Alternative Uses
Best Use
Office B
$323.8K
$283.3K – $377.8K
NOI $22,665 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$463.9K
$406.0K – $541.3K
NOI $32,476 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 85308, AZ
66,540
Population
26,540
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
3,937
Density / Sq Mi
$95,512
Median Household Income
$50,026
Median Earnings
$1,777
Median Rent
$420,100
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 units - A single-tenant space in Escuda Office Plaza has a lease extending through 2029.
Where is this office units located?
The property is located at 20100 N 51st Ave Unit F-610 Glendale, AZ.
What is the asking price?
The asking price for this property is $570,829.
What are key features of this property?
This property features: 1,477‑square‑foot office suite in Escuda Office Plaza, Building F; Occupied by American Family Insurance – Bill Tufarelli Agency Inc.; Lease term extends through December 31, 2029, with scheduled annual base rent increases
