Phoenix Office Unit For
For Sale
$360,000
2701 N 16TH Street 210, Phoenix, AZ 85006
Office unit available in Phoenix, Maricopa County.
Property Size1,135 SF
Price / SF$317.18
Days on Market425
Property Features for 2701 N 16TH Street 210
General Information
Standard status
Active
Size
1,135 SF
Zoning
CO
Taxes and HOA fees
Annual Taxes
$2,329
Amenities
Security Gate
Central Air
Electric
Security
Parking Lot
Building Details
Year Built
1982
Buildings
1
Listing Agency:
Desert River Realty
(602) 380-7880
Listed By:
Lethe Lew · License #BR569884000
(602) 380-7880
Source:
Evrealestate
Added: Jun 18, 2025
Changed: Aug 10
Last Checked: Jul 15 at 8:55PM
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 Desert River Realty
Investment Insights
Based on property information with market context.
Located on the east side of 16th Street, this office unit is situated at 2701 N 16th Street, Phoenix, in Maricopa County. The property has a size of 1135 square feet. The building is accessible from Thomas Road, heading south on 16th Street.
Key Highlights
- Central air cooling for year‑round comfort
- Electric heating system
- Security fencing provides peace of mind
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
$19,430
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
5.40%
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%
$388,600
$388.6K
Cap Rate 7%
$277,571
$277.6K
Cap Rate 9%
$215,889
$215.9K
Market Conditions
NOI Build-Up for 1,135 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
$34.9K $30.72/SF
− Vacancy
−$9.0K −$7.90/SF
EGI
$25.9K $22.82/SF
− OpEx
−$6.5K −$5.71/SF
NOI
$19.4K $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 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%
$388,600
Cap Rate 7%
$277,571
Cap Rate 9%
$215,889
Alternative Uses
Best Use
Office B
$277.6K
$242.9K – $323.8K
NOI $19,430 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.8K
$300.8K – $401.1K
NOI $24,066 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,769
Businesses Nearby
Explore this area
Business Placement
Demographics for 85006, AZ
23,797
Population
10,607
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
5,949
Density / Sq Mi
$60,742
Median Household Income
$39,899
Median Earnings
$1,168
Median Rent
$376,600
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit available in Phoenix, Maricopa County.
Where is this office units located?
The property is located at 2701 N 16TH Street 210 Phoenix, AZ.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Central air cooling for year‑round comfort; Electric heating system; Security fencing provides peace of mind
