Office and Live-Work
207 E Monterey Way Phoenix, AZ 85012
207 E Monterey Way, Phoenix, AZ, 85012
Contact for pricing
For Sale
Contact for pricing
Two-suite office/live-work property offers private offices, conference space, and a connected residential option with patio and parking.
Property Size2,615 SF
Price / SF$321.22
Days on Market16
Property Features for 207 E Monterey Way
General Information
- Standard status
- Active
- Size
- 2,615 SF
- Property subtype
- OFFICE
Listing agency
Cutler Commercial
(480) 529-6400
Listed by
James M Lieberthal · License #SA653578000
(480) 529-6400
Source
Moodyscre
Added: Jul 6 Updated: Jul 20 at 8:10PM Checked: Jul 21 at 5:24AM
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 Cutler Commercial
Investment Insights
Based on property information with market context.
This for-sale office and live-work building totals approximately 2,615 square feet and includes two connected suites that can operate together through a connecting door. The office portion is approximately 1,147 square feet and features four out of five private offices, a conference room, reception area, break room, and restroom, along with a private entrance and patio area. The connected residential live option totals approximately 1,468 square feet with an open-concept layout, two bedrooms/offices, two bathrooms, and a modern kitchen with quartz countertops, custom cabinetry, and new gas range and appliances installed in 2019. Additional improvements include vaulted ceilings, laundry and storage rooms, a newer foam roof, and HVAC systems throughout. There are two separate electric meters serving the suites.
The property is zoned R-5, suitable for office, live/work, or full office use, and the current office suite is under a 1-year lease in place. The building provides eight on-site parking spaces plus street parking, and it is walking distance to light rail and shopping, with downtown Phoenix, hospitals, parks, and Sky Harbor Airport only minutes away.
The former dental office is also described as being suitable for a range of uses including health and wellness, counseling, legal, accounting, service businesses, fitness/spa, and non-profits. Both suites can be combined, or operated separately, depending on the tenant or user’s needs.
The property is zoned R-5, suitable for office, live/work, or full office use, and the current office suite is under a 1-year lease in place. The building provides eight on-site parking spaces plus street parking, and it is walking distance to light rail and shopping, with downtown Phoenix, hospitals, parks, and Sky Harbor Airport only minutes away.
The former dental office is also described as being suitable for a range of uses including health and wellness, counseling, legal, accounting, service businesses, fitness/spa, and non-profits. Both suites can be combined, or operated separately, depending on the tenant or user’s needs.
Key Highlights
- Total building size ±2,615 SF (APN #118‑34‑066A) with two easily combinable suites via a connecting door
- Office portion ±1,147 SF with 1‑year lease in place; 4/5 private offices plus conference, reception, break room, and restroom
- Connected live‑work option ±1,468 SF with open‑concept layout featuring 2 bedrooms/offices, 2 bathrooms, and a patio area
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.3k | $30.72 |
| − Vacancy | −$20.6k | −$7.90 |
| EGI | $59.7k | $22.82 |
| − OpEx | −$14.9k | −$5.71 |
| NOI | $44.8k | $17.12 |
2,615 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$639.5K
$559.6K – $746.1K
NOI $44,765 @ 7.0% cap · market cap 5.33%
Second Best
Mixed Use
$476.3K
$416.8K – $555.7K
NOI $33,341 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$792.1K
$693.1K – $924.1K
NOI $55,447 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Biltmore Evaluation & Treatment
Physician
the HIVE healing house
Medical Clinic
Sound Movement Services
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Two-suite office/live-work property offers private offices, conference space, and a connected residential option with patio and parking.
Where is this live-work space located?
The property is located at 207 E Monterey Way Phoenix, AZ.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Total building size ±2,615 SF (APN #118‑34‑066A) with two easily combinable suites via a connecting door; Office portion ±1,147 SF with 1‑year lease in place; 4/5 private offices plus conference, reception, break room, and restroom; Connected live‑work option ±1,468 SF with open‑concept layout featuring 2 bedrooms/offices, 2 bathrooms, and a patio area
