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    Midtown Phoenix Office Condo Title is generated by Realmo AI

    202 E Earll Dr. #370/370A, Phoenix, AZ 85012

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    For Sale
    $2,291,000

    Move-in ready office condo with potential rental income.

    Type:Office
    Added:
    Feb 25, 2026
    Days on Market:
    101
    Last Refresh:
    Feb 25 at 9:05 pm

    Property Features for 202 E Earll Dr. #370/370A

    General Information

    Standard status
    Active
    Property subtype
    Office

    We can help!

    Listing Contact
    Justin Horwitz, SIOR

    Listing agent Justin Horwitz, SIOR License #AZ #SA674245000

    Listing office SVN | Desert Commercial Advisors

    Listing date Feb 25, 2026

    Source Svndesertcommercial

    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

    HighLights

    • Move‑in ready office condo in Midtown Phoenix's Central Corridor.
    • Potential for supplemental income through demising and renting space.
    • Balconies with views overlooking the central Phoenix skyline.
    • Recently upgraded lobby, elevators, and digital directory signage.
    • Convenient access to the 51 and I‑10 Freeways and walking distance to the Light Rail.
    • Proximity to numerous amenities, universities, and downtown Phoenix attractions.

    Overview

    This is a unique opportunity to own an office condo in a midrise office building in the heart of Midtown Phoenix. Located in the Earll Professional Plaza, a well-established and upscale office building, the property is very well managed. Recent upgrades have been made to the first-floor lobby, including the elevators and digital directory signage. The suite is located on the third floor and features balconies with views overlooking central Phoenix. The office condo is move-in ready and has a functional general office layout with a mix of private offices, conference rooms, and open workspace. The space can be demised to as little as 5,088 square feet, allowing an owner to rent out space or individual offices to drive supplemental income and offset expenses. The building is a multi-story building with a remodeled lobby and professional services included with the association. Convenient access to 51 and I-10 Freeways is provided, in addition to being within walking distance to the Light Rail. The property is surrounded by amenities including hotels, shops, and restaurants, and is minutes from Downtown Phoenix, home to Roosevelt Row, the Phoenix Suns, and the Arizona Diamondbacks. The building is in close proximity to many universities including the newly built Creighton University at Park Central as well as Arizona State University, U of A, and NAU's campuses in the heart of Downtown Phoenix.
    Location Intelligence

    Current Use by Public Records

    NCS Engineering Engineer Delta Systems Engineering Electrical Engineer Dr. Holly Hendin, ... Physician Maria Jones Law ... Law Firm Bobcares (Poornam Inc) IT Consulting Firm

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0716987
    Latitude
    33.4840954

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    FAQs

    What type of property is this?
    Office units - Move-in ready office condo with potential rental income.
    Where is this office units located?
    The property is located at 202 E Earll Dr. #370/370A Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $2,291,000.
    What are key features of this property?
    This property features: Move‑in ready office condo in Midtown Phoenix's Central Corridor.; Potential for supplemental income through demising and renting space.; Balconies with views overlooking the central Phoenix skyline.
    (480) 220-2674
    We can help!
    Listing Contact
    Justin Horwitz, SIOR
    Real Estate License ID: AZ #SA674245000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    202 E Earll Dr. #370/370A | Phoenix, AZ 85012
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