Office Building with Private
For Sale
$450,000
29 E BASELINE Road, Phoenix, AZ 85042
Existing office improvements include a client reception area, multiple private rooms, kitchenette, storage, and a half bath.
Property Size1,608 SF
Days on Market172
Property Features for 29 E BASELINE Road
General Information
Standard status
Active
Size
1,608 SF
Property subtype
COMMERCIAL
Land
Land Use
commercial
Entitled
No
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$953
Amenities
lobby
private rooms
kitchenette
half bath
Building Details
Building Size
1,608 SF
Year Built
1950
Listing Agency:
My Home Group Real Estate
(602) 380-4400
Listed By:
Jeffrey A. Hale · License #SA644476000
(602) 380-4400
Source:
Gillettegroupaz
Added: Feb 17
Changed: Aug 2
Last Checked: Aug 8 at 9:08AM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This office property includes a reception area designed for client arrivals, several enclosed rooms, a kitchenette with built-in storage cabinets, and a half bathroom. The building also offers natural light, front parking, and an open rear area that can support additional improvements, subject to applicable approvals.
The property is situated on a large lot with room for potential expansion. The buyer will be responsible for securing a Certificate of Occupancy or completing any required zoning change for the intended use. Originally constructed in 1950, the building provides an existing office configuration for an owner-user or other commercial occupant.
The property is situated on a large lot with room for potential expansion. The buyer will be responsible for securing a Certificate of Occupancy or completing any required zoning change for the intended use. Originally constructed in 1950, the building provides an existing office configuration for an owner-user or other commercial occupant.
Key Highlights
- Reception area, private rooms, kitchenette, storage cabinets, and half bath
- Open rear area with room for potential additions
- Front parking area serves the existing building
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
$27,527
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
6.12%
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%
$550,540
$550.5K
Cap Rate 7%
$393,243
$393.2K
Cap Rate 9%
$305,856
$305.9K
Market Conditions
NOI Build-Up for 1,608 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
$49.4K $30.72/SF
− Vacancy
−$12.7K −$7.90/SF
EGI
$36.7K $22.82/SF
− OpEx
−$9.2K −$5.71/SF
NOI
$27.5K $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%
$550,540
Cap Rate 7%
$393,243
Cap Rate 9%
$305,856
Alternative Uses
Best Use
Office B
$393.2K
$344.1K – $458.8K
NOI $27,527 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$487.1K
$426.2K – $568.3K
NOI $34,095 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 85042, AZ
45,433
Population
16,139
Households
2.8
Avg Household Size
35
Median Age
32%
College-Educated
82%
High-School Grad
19.4 sq mi
ZIP Area
2,342
Density / Sq Mi
$86,837
Median Household Income
$46,897
Median Earnings
$1,495
Median Rent
$353,400
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 building - Existing office improvements include a client reception area, multiple private rooms, kitchenette, storage, and a half bath.
Where is this office building located?
The property is located at 29 E BASELINE Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Reception area, private rooms, kitchenette, storage cabinets, and half bath; Open rear area with room for potential additions; Front parking area serves the existing building
