Two-Story Brick Office
New
For Sale
$1,470,000
343 W Roosevelt St., Phoenix, AZ 85003
Professional office property within a privately managed three-building complex near Downtown Phoenix amenities and Roosevelt Row.
Property Size3,867 SF
Days on Market5
Property Features for 343 W Roosevelt St.
General Information
Standard status
Active
Size
3,867 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
3,867 SF
Buildings
1
Stories
2
Construction
brick
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 22
Last Checked: Sep 24 at 7:31AM
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
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 = 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
$66,198
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
4.50%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
Vacancy Rate% for Office in Phoenix, AZ
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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
