B-2 Zoned Office
For Sale
$450,000
218 W Florence Boulevard, Casa Grande, AZ 85122
Existing four-bedroom, two-bath layout offers a potential professional office configuration on Florence Boulevard.
Property Size1,657 SF
Price / SF$271.58
Days on Market24
Property Features for 218 W Florence Boulevard
General Information
Standard status
Active
Size
1,657 SF
Property subtype
Commercial
Zoning
B-2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$312
Building Details
Building Size
1,657 SF
Year Built
1937
Buildings
1
Listing Agency:
Keller Williams Legacy One Realty
(520) 483-8442
Listed By:
Robert Daniel Bechtel · License #SA682363000
(520) 483-8442
Source:
Aznewhorizonrealty
Added: Jul 24
Changed: Aug 14
Last Checked: Aug 15 at 12:15PM
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 Keller Williams Legacy One Realty
Investment Insights
Based on property information with market context.
This 1,657-square-foot property was built in 1937 and includes four bedrooms and two bathrooms within an existing residential layout. The building has been used as a residence and is positioned for consideration as a professional office, subject to applicable requirements. B-2 zoning supports a range of commercial uses.
The property occupies a double-sized lot with frontage on Florence Boulevard in Casa Grande. Its boulevard position places the building in the center of Casa Grande and provides direct street exposure. The combination of an established structure, commercial zoning, and a residential-scale floor plan creates a flexible office-oriented property with existing improvements.
The property occupies a double-sized lot with frontage on Florence Boulevard in Casa Grande. Its boulevard position places the building in the center of Casa Grande and provides direct street exposure. The combination of an established structure, commercial zoning, and a residential-scale floor plan creates a flexible office-oriented property with existing improvements.
Key Highlights
- B‑2 zoning supports a range of commercial uses
- 1,657 sq/ft building built in 1937
- Existing layout includes 4 bedrooms and 2 bathrooms
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
$22,856
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
5.08%
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%
$457,120
$457.1K
Cap Rate 7%
$326,514
$326.5K
Cap Rate 9%
$253,956
$254.0K
Market Conditions
NOI Build-Up for 1,657 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
$38.6K $23.28/SF
− Vacancy
−$8.1K −$4.89/SF
EGI
$30.5K $18.39/SF
− OpEx
−$7.6K −$4.60/SF
NOI
$22.9K $13.79/SF
Area
Pinal County, AZ
Vacancy
21.00%
Lease Rate
$23.28 /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%
$457,120
Cap Rate 7%
$326,514
Cap Rate 9%
$253,956
Alternative Uses
Best Use
Office B
$326.5K
$285.7K – $380.9K
NOI $22,856 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$458.1K
$400.8K – $534.5K
NOI $32,067 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 85122, AZ
55,063
Population
24,238
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
56.4 sq mi
ZIP Area
976
Density / Sq Mi
$64,243
Median Household Income
$38,679
Median Earnings
$1,289
Median Rent
$242,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Existing four-bedroom, two-bath layout offers a potential professional office configuration on Florence Boulevard.
Where is this office building located?
The property is located at 218 W Florence Boulevard Casa Grande, AZ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: B‑2 zoning supports a range of commercial uses; 1,657 sq/ft building built in 1937; Existing layout includes 4 bedrooms and 2 bathrooms
