Office Building with Two HVAC
For Sale
Contact for pricing
2345 W Glendale Ave, Phoenix, AZ 85021
Office building with an additional 0.25-acre parking lot behind the building and two HVAC systems.
Property Size7,403 SF
Price / SF$225
Days on Market378
Property Features for 2345 W Glendale Ave
General Information
Standard status
Active
Size
7,403 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Alhambra
Highway Access
Yes
Building Details
Year Renovated
2022
Listing Agency:
Avison Young | Phoenix
(480) 994-8155
Listed By:
Kelly Carlon · License #SA669487000
(480) 463-4199
Source:
Moodyscre
Added: Oct 20, 2025
Changed: Oct 26
Last Checked: Oct 30 at 5:50PM
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 Avison Young | Phoenix
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Investment Insights
Based on property information with market context.
This office building includes a separate 0.25-acre additional parking lot directly behind the building, suitable for staff or client use. The space is served by two HVAC systems installed 5/2017, and the systems are described as secured. Power includes Phase 1 service, and interior ceilings measure 10 feet.
Recent improvements in 2022 include fresh exterior and interior paint, updated flooring, enhanced electrical systems, an enclosed dumpster area, and upgraded millwork in the reception area, breakroom, and bathrooms. The building totals 7,403 square feet and is positioned for move-in-ready occupancy.
The property is conveniently located near the I-17 Freeway, minutes from the Metrocenter redevelopment, and about three miles north of Grand Canyon University.
Recent improvements in 2022 include fresh exterior and interior paint, updated flooring, enhanced electrical systems, an enclosed dumpster area, and upgraded millwork in the reception area, breakroom, and bathrooms. The building totals 7,403 square feet and is positioned for move-in-ready occupancy.
The property is conveniently located near the I-17 Freeway, minutes from the Metrocenter redevelopment, and about three miles north of Grand Canyon University.
Key Highlights
- Additional 0.25‑acre parking lot directly behind the building for staff or clients
- Two HVAC systems installed 5/2017, described as secured
- Phase 1 power service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,730
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,534,600
$2.5M
Cap Rate 7%
$1,810,429
$1.8M
Cap Rate 9%
$1,408,111
$1.4M
Market Conditions
NOI Build-Up for 7,403 SF
Gross rent
$227.4K $30.72/SF
− Vacancy
−$58.4K −$7.90/SF
EGI
$169.0K $22.82/SF
− OpEx
−$42.2K −$5.71/SF
NOI
$126.7K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,534,600
Cap Rate 7%
$1,810,429
Cap Rate 9%
$1,408,111
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,730 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $156,970 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office building - Office building with an additional 0.25-acre parking lot behind the building and two HVAC systems.
Where is this office building located?
The property is located at 2345 W Glendale Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,665,675.
What are key features of this property?
This property features: Additional 0.25‑acre parking lot directly behind the building for staff or clients; Two HVAC systems installed 5/2017, described as secured; Phase 1 power service
