Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    North Phoenix Single-Story Office Title is generated by Realmo AI

    21035 N Cave Creek Rd #5C, Phoenix, AZ 85024

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,500

    Single-story office property in North Phoenix with convenient freeway access.

    Type:Office
    Property size:
    1,651 SF
    Price / SF:
    $302/SF
    Added:
    Jan 27, 2026
    Days on Market:
    119
    Last Refresh:
    Apr 6 at 12:42 am

    Property Features for 21035 N Cave Creek Rd #5C

    General Information

    Standard status
    Active
    Size
    1,651 SF
    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 Jan 27, 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

    • Convenient access to Loop 101 and I‑17 Freeways.
    • Located directly off Cave Creek Rd in North Phoenix.
    • Includes ±1,651 SF of single‑story office space.
    • Features a large reception area, four offices, and a conference room.
    • Proximity to Deer Valley Airport.
    • Close to retail shopping centers and amenities.

    Overview

    Located in North Phoenix, the property at 21035 N Cave Creek Rd #5C is a single-story office space. The suite measures approximately 1,651 square feet and features a large reception area, one en-suite restroom, four offices, a large bullpen area, a conference room, and a break room. The property is situated directly off Cave Creek Rd and the Loop 101 Freeway, offering convenient access to the I-17 Fwy and Loop-101. Its location provides proximity to Deer Valley Airport and various retail shopping centers and amenities, facilitating reasonable drive times throughout the Phoenix metropolitan area. This property is suitable for office use.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $314.0K
    NOI $28,263 @ 9.00% cap · cautious / downside scenario
    Moderate
    $403.8K
    NOI $28,263 @ 7.00% cap · market / base-case scenario
    Aggressive
    $565.3K
    NOI $28,263 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $50.7k $30.72
    − Vacancy −$13.0k −$7.90
    EGI $37.7k $22.82
    − OpEx −$9.4k −$5.71
    NOI $28.3k $17.12
    1,651 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $403.8K
    $353.3K – $471.1K (±1% cap)
    NOI $28,263 @ 7.0% cap · market cap 5.66%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $500.1K
    $437.6K – $583.5K (±1% cap)
    NOI $35,007 @ 7.0% cap · market cap 7.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    AMES Tools Hardware & Home Improvement Health for Life - Cave ... (Bike/Boat/Book/etc) Store Redscape Realty Property Management Company HEMANG MAHENDRA GANDHI Physician Singer Tax & Accounting Tax Preparation

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.029
    Latitude
    33.6776

    Nearby Similar for Sale

    • $550,000
      1,741 SF

      Turn-Key Assisted Living Facility

      Fully operational assisted living facility in Phoenix's Ahwatukee area.
      4305 E BRIARWOOD Terrace, Phoenix, AZ 85048
      View Details
    • $785,000
      2,853 SF

      Phoenix Assisted Living Facility

      Assisted living home with license for 10 residents.
      607 W VILLA RITA Drive, Phoenix, AZ 85023
      View Details
    • $1,900,000
      6,894 SF

      Phoenix Behavioral Health Center

      City licensed 10-bed behavioral health center on 0.89 acres.
      1522 W MYRTLE Avenue, Phoenix, AZ 85021
      View Details
    • $499,000

      Phoenix Multifamily Value-Add Opportunity

      Multifamily property with two separate structures in central Phoenix.
      1212 E TAYLOR Street, Phoenix, AZ 85006
      View Details
    • $900,000

      Remodeled Multifamily Property in Phoenix

      Turnkey investment with immediate cash flow in Phoenix, Arizona.
      2925 N 38TH Street, Phoenix, AZ 85018
      View Details
    • $619,900
      1,485 SF

      Turnkey Phoenix Short-Term Rental

      Fully renovated, furnished 3-unit property with strong rental income.
      1515 W TONTO Street, Phoenix, AZ 85007
      View Details
    • $625,000

      Value-Add Opportunity in Downtown Phoenix

      Mixed-use property with income potential in a developing urban neighborhood.
      215 N 12TH Avenue, Phoenix, AZ 85007
      View Details
    • $780,000

      Renovated Phoenix Multifamily Short-Term Rental

      Comprehensively renovated 4-unit short-term rental in prime Phoenix location.
      322 N 11TH Place, Phoenix, AZ 85006
      View Details
    • $489,900
      1,720 SF

      Phoenix Office Building Investment Opportunity

      Office building near I-17 with high visibility and flexible zoning.
      8545 N Black Cyn Highway, Phoenix, AZ 85021
      View Details
    • $699,900
      1,899 SF

      Phoenix Assisted Living Home

      Licensed assisted living home in prime Phoenix location.
      3569 E UTOPIA Road, Phoenix, AZ 85050
      View Details
    • $640,000

      Cash Flowing Phoenix Fourplex

      Low maintenance fourplex near downtown Phoenix with upgraded units.
      1001 N 32ND Avenue, Phoenix, AZ 85009
      View Details
    • $614,500

      Phoenix Multifamily Investment Opportunity

      Value-add multifamily property with immediate income upside potential.
      4421 N 53RD Lane, Phoenix, AZ 85031
      View Details

    FAQs

    What type of property is this?
    Office units - Single-story office property in North Phoenix with convenient freeway access.
    Where is this office units located?
    The property is located at 21035 N Cave Creek Rd #5C Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $499,500.
    What are key features of this property?
    This property features: Convenient access to Loop 101 and I‑17 Freeways.; Located directly off Cave Creek Rd in North Phoenix.; Includes ±1,651 SF of single‑story office space.
    (480) 425-5518
    We can help!
    Listing Contact
    Justin Horwitz, SIOR
    Real Estate License ID: AZ #SA674245000
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21035 N Cave Creek Rd #5C, Phoenix, AZ 85024
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!