Suite 3 Office
New
For Sale
$969,320
3950 E Riggs Rd Ste 3, Chandler, AZ 85249
Office space within a commercial property built in 2005.
Property Size5,667 SF
Price / SF$440
Days on Market2
Property Features for 3950 E Riggs Rd Ste 3
General Information
Standard status
Active
Size
5,667 SF
Class
C
Property subtype
Office
Building Details
Building Size
5,667 SF
Year Built
2005
Listing Agency:
Commercial Properties Inc Tempe
(602) 291-9400
Listed By:
Eric Jones · License #SA627726000
(602) 291-9400
Source:
Cpiaz
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 12:59PM
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 Commercial Properties Inc Tempe
Investment Insights
Based on property information with market context.
Suite 3 is an office unit measuring approximately 2,203 square feet within a commercial property constructed in 2005. The property is located at 3950 E Riggs Rd in Chandler, Arizona, with the suite identified as 3950 E Riggs Rd, Ste 3.
Key Highlights
- ±2,203 square feet of office space
- Suite 3 at 3950 E Riggs Rd, Chandler, AZ 85249
- Constructed in 2005
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
$34,678
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
3.58%
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%
$693,560
$693.6K
Cap Rate 7%
$495,400
$495.4K
Cap Rate 9%
$385,311
$385.3K
Market Conditions
NOI Build-Up for 2,203 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
$57.4K $26.04/SF
− Vacancy
−$11.1K −$5.05/SF
EGI
$46.2K $20.99/SF
− OpEx
−$11.6K −$5.25/SF
NOI
$34.7K $15.74/SF
Area
Chandler, AZ
Vacancy
19.40%
Lease Rate
$26.04 /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%
$693,560
Cap Rate 7%
$495,400
Cap Rate 9%
$385,311
Alternative Uses
Best Use
Office B
$495.4K
$433.5K – $578.0K
NOI $34,678 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$631.4K
$552.5K – $736.7K
NOI $44,201 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 85249, AZ
47,414
Population
17,489
Households
2.7
Avg Household Size
42
Median Age
56%
College-Educated
96%
High-School Grad
14.3 sq mi
ZIP Area
3,316
Density / Sq Mi
$150,985
Median Household Income
$74,519
Median Earnings
$2,318
Median Rent
$610,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office space within a commercial property built in 2005.
Where is this office units located?
The property is located at 3950 E Riggs Rd Ste 3 Chandler, AZ.
What is the asking price?
The asking price for this property is $969,320.
What are key features of this property?
This property features: ±2,203 square feet of office space; Suite 3 at 3950 E Riggs Rd, Chandler, AZ 85249; Constructed in 2005
