Phoenix Office Building For
For Sale
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2715 N 3rd St, Phoenix, AZ 85004
Office building for sale near Central Ave and Light Rail.
Property Size16,300 SF
Lot Size1.04 Acres
Price / SF$196.32
Days on Market215
Property Features for 2715 N 3rd St
General Information
Standard status
Active
Size
16,300 SF
Class
C
Lot size
1.04 Acres
Property subtype
Office
Zoning
R-5
Investment Type
Owner/User
Building Details
Year Built
1984
Buildings
1
Stories
2
Listing Agency:
Keyser Commercial Real Estate
Listed By:
Ruth Darby · License #SA549117000
Source:
Crexi
Added: Mar 6
Changed: Sep 8
Last Checked: Oct 5 at 7:36PM
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 Keyser Commercial Real Estate
Investment Insights
Based on property information with market context.
This commercial property, suitable for office use, is located a few blocks from Central Avenue and the Light Rail. The masonry construction building has an open atrium and is situated on approximately 1.04 acres. It features a parking ratio of 4 spaces per 1,000 square feet, with a total of 50 parking spaces, including 38 covered and 12 uncovered spaces. The 16,300 square foot building is separately metered, making it suitable for multi-tenant leased space or office condos.
Key Highlights
- Separately metered for multi‑tenant leased space or office condos.
- ±1.04 Acres.
- Ample Parking: 4/1000 parking ratio with 38 covered and 12 uncovered spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$279,035
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,580,700
$5.6M
Cap Rate 7%
$3,986,214
$4.0M
Cap Rate 9%
$3,100,389
$3.1M
Market Conditions
NOI Build-Up for 16,300 SF
Gross rent
$500.7K $30.72/SF
− Vacancy
−$128.7K −$7.90/SF
EGI
$372.0K $22.82/SF
− OpEx
−$93.0K −$5.71/SF
NOI
$279.0K $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%
$5,580,700
Cap Rate 7%
$3,986,214
Cap Rate 9%
$3,100,389
Alternative Uses
Best Use
Office B
$3.99M
$3.49M – $4.65M
NOI $279,035 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.94M
$4.32M – $5.76M
NOI $345,619 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,375
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office building - Office building for sale near Central Ave and Light Rail.
Where is this office building located?
The property is located at 2715 N 3rd St Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Separately metered for multi‑tenant leased space or office condos.; ±1.04 Acres.; Ample Parking: 4/1000 parking ratio with 38 covered and 12 uncovered spaces.
