Office Units with Three Private
For Sale
$400,960
2814 W NORTHERN Avenue, Phoenix, AZ 85051
Interior office buildout with three private offices, reception/work area, and paved parking.
Property Size1,442 SF
Days on Market29
Property Features for 2814 W NORTHERN Avenue
General Information
Standard status
Active
Size
1,442 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$1,892
Amenities
3 private offices
bathroom
break room
conference room
2 storage closets
reception/work area
Building Details
Building Size
1,442 SF
Year Built
1957
Listing Agency:
MCG Realty
(602) 620-1453
Listed By:
Tiffany J McGill · License #BR115598000
(602) 620-1453
Source:
Alexiabertsatos
Added: Jul 26
Changed: Aug 23
Last Checked: Aug 23 at 6:48AM
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 MCG Realty
Investment Insights
Based on property information with market context.
This office units space is set up for day-to-day work with three private offices plus a reception/work area, conference room, and break room. The layout also includes a bathroom and two storage closets. Interior finishes include commercial carpeting along with tile and wood flooring. The space measures 1,442 SF and is served by paved parking.
Located at 2814 W Northern Ave in Phoenix, AZ, the property is described as having easy access to Central Phoenix, supporting convenient arrivals for staff and visitors.
The combination of private offices, shared meeting space, reception/work area, and dedicated storage is well suited for professional teams needing a functional, purpose-built office arrangement.
Located at 2814 W Northern Ave in Phoenix, AZ, the property is described as having easy access to Central Phoenix, supporting convenient arrivals for staff and visitors.
The combination of private offices, shared meeting space, reception/work area, and dedicated storage is well suited for professional teams needing a functional, purpose-built office arrangement.
Key Highlights
- 1,442 SF office units space with reception/work area
- Three private offices plus conference room
- Break room and bathroom in the interior layout
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
$24,685
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
6.16%
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%
$493,700
$493.7K
Cap Rate 7%
$352,643
$352.6K
Cap Rate 9%
$274,278
$274.3K
Market Conditions
NOI Build-Up for 1,442 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
$44.3K $30.72/SF
− Vacancy
−$11.4K −$7.90/SF
EGI
$32.9K $22.82/SF
− OpEx
−$8.2K −$5.71/SF
NOI
$24.7K $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 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%
$493,700
Cap Rate 7%
$352,643
Cap Rate 9%
$274,278
Alternative Uses
Best Use
Office B
$352.6K
$308.6K – $411.4K
NOI $24,685 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.8K
$382.2K – $509.6K
NOI $30,576 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Explore this area
Business Placement
Demographics for 85051, AZ
46,123
Population
16,818
Households
2.7
Avg Household Size
34
Median Age
20%
College-Educated
81%
High-School Grad
6.4 sq mi
ZIP Area
7,207
Density / Sq Mi
$63,665
Median Household Income
$38,980
Median Earnings
$1,256
Median Rent
$288,300
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Interior office buildout with three private offices, reception/work area, and paved parking.
Where is this office units located?
The property is located at 2814 W NORTHERN Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $400,960.
What are key features of this property?
This property features: 1,442 SF office units space with reception/work area; Three private offices plus conference room; Break room and bathroom in the interior layout
