Bright Office Unit with Flexible
For Sale
$360,000
2701 N 16th Street #210, Phoenix, AZ 85006
Professional office suite with abundant daylight, internet access, and adaptable workspace planning.
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
Property subtype
Commercial
Zoning
CO
Taxes and HOA fees
Annual Taxes
$2,329
Building Details
Building Size
1,135 SF
Year Built
1982
Buildings
1
Listing Agency:
Desert River Realty
(602) 380-7880
Listed By:
Lethe Lew · License #BR569884000
(602) 380-7880
Source:
Aznewhorizonrealty
Added: Jun 18, 2025
Changed: Aug 9
Last Checked: Aug 15 at 12:09PM
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.
This 1,135-square-foot office unit at 2701 N 16th Street, Suite 210, provides a professional workspace within a building completed in 1982. Large windows bring natural light into the suite, while high-speed internet access supports day-to-day business operations. The interior can be arranged to accommodate different workspace requirements.
The property is zoned CO and positioned in downtown Phoenix. Its office configuration, adaptable layout, and existing connectivity create a practical setting for a range of business operations.
The property is zoned CO and positioned in downtown Phoenix. Its office configuration, adaptable layout, and existing connectivity create a practical setting for a range of business operations.
Key Highlights
- 1,135 SF office unit at 2701 N 16th Street #210
- CO zoning
- Large windows provide natural light
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 - Professional office suite with abundant daylight, internet access, and adaptable workspace planning.
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: 1,135 SF office unit at 2701 N 16th Street #210; CO zoning; Large windows provide natural light
