Renovated Owner-User Office
For Sale
Contact for pricing
3130 N 3rd Ave, Phoenix, AZ 85013
Completely renovated two-floor office building with glass walls, exposed concrete, private balconies, and a basement speakeasy with full bar.
Property Size8,870 SF
Price / SF$315.67
Days on Market215
Property Features for 3130 N 3rd Ave
General Information
Standard status
Active
Size
8,870 SF
Property subtype
OFFICE
Listing Agency:
Colliers | Phoenix
(602) 222-5000
Listed By:
John Barnes · License #BRO26952000
(602) 751-8455
Source:
Moodyscre
Added: Feb 10
Changed: Sep 2
Last Checked: Sep 12 at 9:23AM
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 Colliers | Phoenix
Investment Insights
Based on property information with market context.
This completely renovated owner-user office building offers a distinctive layout with exposed ceiling elements, top-to-bottom glass walls and doors, and exposed concrete finishes. The two floors mirror each other and include seven offices per floor, along with two conference rooms, two restrooms, and a kitchen. The building also features eight private balconies.
The lower level is designed as a speakeasy with a full bar, an open area, and three full-size booths. Parking is provided under the building and is covered.
The property is located just west of the revitalized Park Central Mall, which includes retail, medical, office, storage, and hotel uses. Walkable amenities in the area include First Watch, EOS Fitness, Fired Pie, Jamba, Jimmy John’s, Zipp’s Sports Grill, and Kobalt, with notable nearby tenants within a quarter-mile radius including St. Joseph’s Medical Center, Barrow Neurological Institute, Dignity Health Regional Headquarters, and Creighton Medical Center.
The lower level is designed as a speakeasy with a full bar, an open area, and three full-size booths. Parking is provided under the building and is covered.
The property is located just west of the revitalized Park Central Mall, which includes retail, medical, office, storage, and hotel uses. Walkable amenities in the area include First Watch, EOS Fitness, Fired Pie, Jamba, Jimmy John’s, Zipp’s Sports Grill, and Kobalt, with notable nearby tenants within a quarter-mile radius including St. Joseph’s Medical Center, Barrow Neurological Institute, Dignity Health Regional Headquarters, and Creighton Medical Center.
Key Highlights
- Completely renovated two‑floor owner‑user office building with basement speakeasy and full bar at 3130 N 3rd Avenue, Phoenix
- 8,870 SF building offered for $3.2 million
- Top‑to‑bottom glass walls and doors with exposed ceiling and exposed concrete throughout
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
$151,843
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
5.42%
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%
$3,036,860
$3.0M
Cap Rate 7%
$2,169,186
$2.2M
Cap Rate 9%
$1,687,144
$1.7M
Market Conditions
NOI Build-Up for 8,870 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
$272.5K $30.72/SF
− Vacancy
−$70.0K −$7.90/SF
EGI
$202.5K $22.82/SF
− OpEx
−$50.6K −$5.71/SF
NOI
$151.8K $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%
$3,036,860
Cap Rate 7%
$2,169,186
Cap Rate 9%
$1,687,144
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.53M
NOI $151,843 @ 7.0% cap · market cap 5.42%
Second Best
Specialty Retail
$1.89M
$1.65M – $2.20M
NOI $132,198 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$2.69M
$2.35M – $3.13M
NOI $188,076 @ 7.0% cap · market cap 6.72%
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
6,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office building - Completely renovated two-floor office building with glass walls, exposed concrete, private balconies, and a basement speakeasy with full bar.
Where is this office building located?
The property is located at 3130 N 3rd Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Completely renovated two‑floor owner‑user office building with basement speakeasy and full bar at 3130 N 3rd Avenue, Phoenix; 8,870 SF building offered for $3.2 million; Top‑to‑bottom glass walls and doors with exposed ceiling and exposed concrete throughout
