Two-Story Brick Office
343 W Roosevelt St., Phoenix, AZ 85003
For Sale
$1,470,000
Professional office property within a privately managed three-building complex near Downtown Phoenix amenities and Roosevelt Row.
Property Size3,867 SF
Days on Market50
Property Features for 343 W Roosevelt St.
General Information
Standard status
Size
Class
Property subtype
Site & Location
Neighborhood
Highway Access
Building Details
Building Size
Buildings
Stories
Construction
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 22
Changed: Nov 5
Last Checked: Nov 10 at 6:16AM
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 Justin Horwitz, SIOR
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Investment Insights
Based on property information with market context.
This office property occupies two floors within a three-building complex at 343 W Roosevelt St. in Phoenix. Its brick exterior and practical office layout support professional and general office uses, with ownership of the individual buildings managed separately by their respective owners.
The property is positioned in Downtown Phoenix near Roosevelt Row, with shops and restaurants in the surrounding area. Regional access is available through I-10 via 7th Avenue, 3rd Avenue, and 7th Street, connecting the site with destinations across the Valley.
The property is positioned in Downtown Phoenix near Roosevelt Row, with shops and restaurants in the surrounding area. Regional access is available through I-10 via 7th Avenue, 3rd Avenue, and 7th Street, connecting the site with destinations across the Valley.
Key Highlights
- Two floors of office space at 343 W Roosevelt St.
- Brick exterior within a three‑building office complex
- Individual building owners manage the complex separately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,198
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,323,960
$1.3M
Cap Rate 7%
$945,686
$945.7K
Cap Rate 9%
$735,533
$735.5K
Market Conditions
NOI Build-Up for 3,867 SF
Gross rent
$118.8K $30.72/SF
− Vacancy
−$30.5K −$7.90/SF
EGI
$88.3K $22.82/SF
− OpEx
−$22.1K −$5.71/SF
NOI
$66.2K $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%
$1,323,960
Cap Rate 7%
$945,686
Cap Rate 9%
$735,533
Alternative Uses
Best Use
Office B
$945.7K
$827.5K – $1.10M
NOI $66,198 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,994 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,676
Businesses Nearby
Explore this area
Business Placement
Demographics for 85003, AZ
11,042
Population
6,117
Households
1.8
Avg Household Size
37
Median Age
45%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
5,812
Density / Sq Mi
$56,672
Median Household Income
$55,122
Median Earnings
$1,258
Median Rent
$577,700
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Phoenix, AZ
Properties on Market for Office buildings in Phoenix
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office building - Professional office property within a privately managed three-building complex near Downtown Phoenix amenities and Roosevelt Row.
Where is this office building located?
The property is located at 343 W Roosevelt St. Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,470,000.
What are key features of this property?
This property features: Two floors of office space at 343 W Roosevelt St.; Brick exterior within a three‑building office complex; Individual building owners manage the complex separately
