Office/Retail Condominium with Rear
2302 N Central Ave Phoenix, AZ 85004
For Sale
Contact for pricing
Well-positioned condominium with functional office/retail layout and dedicated rear parking.
Property Size1,636 SF
Price / SF$335
Days on Market304
Property Features for 2302 N Central Ave
General Information
Standard status
Active
Size
1,636 SF
Property subtype
OFFICE
Listing Agency:
Colliers | Phoenix
(602) 751-8455
Listed By:
John Barnes · License #SA579777000
(602) 751-8455
Source:
Moodyscre
Added: Sep 30, 2025
Changed: Jul 26
Last Checked: Jul 29 at 2:42PM
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 Colliers | Phoenix
Investment Insights
Based on property information with market context.
This ±1,634 SF office/retail condominium offers a functional layout designed for professional use with minimal build-out requirements. The property supports both monument and building signage opportunities, helping establish on-site identity.
Located on N Central Ave in Phoenix, the space is described as having strong visibility. The configuration includes dedicated rear parking for day-to-day access and customer or client convenience.
Offered for sale at $515,000, with an indicated lease rate of $20.00/SF plus NNN (estimated at approximately $8.75/SF). Seller financing is available for qualified buyers.
Located on N Central Ave in Phoenix, the space is described as having strong visibility. The configuration includes dedicated rear parking for day-to-day access and customer or client convenience.
Offered for sale at $515,000, with an indicated lease rate of $20.00/SF plus NNN (estimated at approximately $8.75/SF). Seller financing is available for qualified buyers.
Key Highlights
- 1,634 SF office/retail condominium with a functional layout and minimal build‑out requirements
- Central Avenue location with monument and building signage opportunities
- Dedicated rear parking
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 | $50.3k | $30.72 |
| − Vacancy | −$12.9k | −$7.90 |
| EGI | $37.3k | $22.82 |
| − OpEx | −$9.3k | −$5.71 |
| NOI | $28.0k | $17.12 |
1,636 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$400.1K
$350.1K – $466.8K
NOI $28,006 @ 7.0% cap · market cap 5.11%
Second Best
Retail
$264.1K
$231.1K – $308.2K
NOI $18,490 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$495.6K
$433.6K – $578.2K
NOI $34,689 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Well-positioned condominium with functional office/retail layout and dedicated rear parking.
Where is this office units located?
The property is located at 2302 N Central Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $548,060.
What are key features of this property?
This property features: 1,634 SF office/retail condominium with a functional layout and minimal build‑out requirements; Central Avenue location with monument and building signage opportunities; Dedicated rear parking
