Move-In Ready Office Condo
For Sale
Contact for pricing
2033 E Warner Rd, Tempe, AZ 85284
Built-out office suite includes lobby, three private offices, conference room, ADA restroom, kitchen, and storage.
Property Size1,628 SF
Price / SF$394.96
Days on Market203
Property Features for 2033 E Warner Rd
General Information
Standard status
Active
Size
1,628 SF
Total Parking Spaces
3
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Menlo Group Commercial Real Estate
(480) 771-1376
Listed By:
Steve Berghoff · License #BR581000000
(480) 206-4548
Source:
Moodyscre
Added: Feb 17
Changed: Aug 21
Last Checked: Jul 22 at 2:43AM
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 Menlo Group Commercial Real Estate
Investment Insights
Based on property information with market context.
Move-in ready office condo suite in Price Warner Commerce Center, offering a built-out general office layout with a lobby/reception area, three private offices, a conference room, ADA restroom, kitchen, and storage. The suite is supported by two brand new HVAC units installed in 2025.
The building features block masonry exterior accents with a ceramic tile hip roof, and HOA is professionally managed by Affiliated Property Management Corp. On-site parking includes three covered, reserved spaces, and there is monument signage on site.
The suite includes a personal property package (furniture) available for purchase under a separate bill of sale.
The building features block masonry exterior accents with a ceramic tile hip roof, and HOA is professionally managed by Affiliated Property Management Corp. On-site parking includes three covered, reserved spaces, and there is monument signage on site.
The suite includes a personal property package (furniture) available for purchase under a separate bill of sale.
Key Highlights
- Built‑out general office suite with lobby/reception, 3 private offices, conference room, ADA restroom, kitchen, and storage
- Brand new HVAC units installed in 2025 (2 units)
- Owner/user potential: 100% bonus depreciation may be available via cost segregation study (for eligible components)
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
$29,100
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
4.53%
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%
$582,000
$582.0K
Cap Rate 7%
$415,714
$415.7K
Cap Rate 9%
$323,333
$323.3K
Market Conditions
NOI Build-Up for 1,628 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
$49.4K $30.36/SF
− Vacancy
−$10.6K −$6.53/SF
EGI
$38.8K $23.83/SF
− OpEx
−$9.7K −$5.96/SF
NOI
$29.1K $17.87/SF
Area
Tempe, AZ
Vacancy
21.50%
Lease Rate
$30.36 /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%
$582,000
Cap Rate 7%
$415,714
Cap Rate 9%
$323,333
Alternative Uses
Best Use
Office B
$415.7K
$363.8K – $485.0K
NOI $29,100 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$511.9K
$448.0K – $597.3K
NOI $35,836 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 85284, AZ
18,638
Population
7,589
Households
2.5
Avg Household Size
45
Median Age
69%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
2,389
Density / Sq Mi
$154,663
Median Household Income
$64,288
Median Earnings
$2,162
Median Rent
$646,300
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 - Built-out office suite includes lobby, three private offices, conference room, ADA restroom, kitchen, and storage.
Where is this office units located?
The property is located at 2033 E Warner Rd Tempe, AZ.
What is the asking price?
The asking price for this property is $643,000.
What are key features of this property?
This property features: Built‑out general office suite with lobby/reception, 3 private offices, conference room, ADA restroom, kitchen, and storage; Brand new HVAC units installed in 2025 (2 units); Owner/user potential: 100% bonus depreciation may be available via cost segregation study (for eligible components)
