Suite 3 Office
For Sale
$969,320
3950 E Riggs Rd Ste 3, Chandler, AZ 85249
Office space within a commercial property built in 2005.
Property Size2,203 SF
Price / SF$440
Days on Market48
Property Features for 3950 E Riggs Rd Ste 3
General Information
Standard status
Active
Size
2,203 SF
Class
C
Property subtype
Office
Building Details
Building Size
2,203 SF
Year Built
2005
Listing Agency:
Commercial Properties Inc
Listed By:
Eric Jones · License #SA026157000
(602) 291-9400
Source:
Cpiaz
Added: Aug 30
Changed: Oct 13
Last Checked: Oct 14 at 10:08PM
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
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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 / Yr
$34,678
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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
