Freestanding Office
New
For Sale
$2,215,000
3731 East University Drive, Phoenix, AZ 85034
The Phoenix property has A-1 zoning and on-site parking.
Property Size6,049 SF
Lot Size0.51 Acres
Price / SF$366.18
Days on Market3
Property Features for 3731 East University Drive
General Information
Standard status
Active
Size
6,049 SF
Total Parking Spaces
30
Lot size
0.51 Acres
Property subtype
Industrial
Zoning
A-1
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$2,215,000
Building Details
Year Built
1987
Buildings
1
Listing Agency:
CBRE | Phoenix
Listed By:
Mike Parker
(602) 614-7877
Source:
Cbre
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 3:43AM
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 CBRE | Phoenix
Investment Insights
Based on property information with market context.
This freestanding office building contains 6,049 square feet on approximately 0.51 acres. Built in 1987, it includes 30 parking stalls; the listed covered-stall figures conflict and are not included here. The property is zoned A-1 by the City of Phoenix.
The site is described as centrally located in the Sky Harbor area, with access to I-10 via full-diamond interchanges at 32nd Street and 40th Street. Arterial-street visibility and signage are available.
The site is described as centrally located in the Sky Harbor area, with access to I-10 via full-diamond interchanges at 32nd Street and 40th Street. Arterial-street visibility and signage are available.
Key Highlights
- 6,049‑square‑foot freestanding office building
- Approximately 0.51 acres
- 30 parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,551
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,071,020
$2.1M
Cap Rate 7%
$1,479,300
$1.5M
Cap Rate 9%
$1,150,567
$1.2M
Market Conditions
NOI Build-Up for 6,049 SF
Gross rent
$185.8K $30.72/SF
− Vacancy
−$47.8K −$7.90/SF
EGI
$138.1K $22.82/SF
− OpEx
−$34.5K −$5.71/SF
NOI
$103.6K $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%
$2,071,020
Cap Rate 7%
$1,479,300
Cap Rate 9%
$1,150,567
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.73M
NOI $103,551 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,261 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 85034, AZ
5,033
Population
2,901
Households
1.7
Avg Household Size
32
Median Age
32%
College-Educated
81%
High-School Grad
11.6 sq mi
ZIP Area
434
Density / Sq Mi
$53,545
Median Household Income
$43,236
Median Earnings
$1,205
Median Rent
$397,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The Phoenix property has A-1 zoning and on-site parking.
Where is this office building located?
The property is located at 3731 East University Drive Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,215,000.
What are key features of this property?
This property features: 6,049‑square‑foot freestanding office building; Approximately 0.51 acres; 30 parking stalls
