Listing Agency: Cushman & Wakefield | Phoenix Show Phone

Listed By: Adam Madison · License #BR003315000 Show Phone

Source: Moodyscre

Added: Oct 3, 2025 Changed: Oct 9 Last Checked: Oct 11 at 6:43AM

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Investment Insights

Based on property information with market context.

This 4,949 square foot flex space building includes 1,500 square feet of office area. Constructed in 1975 and remodeled in 2023, the property is situated on a 0.58-acre site. It features a concrete patio in the rear and an outdoor dog run. The zoning is C-O.

Key Highlights

• Remodeled in 2023
• Building Size: 4,949 SF
• Office Area: 1,500 SF Flex Space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$84,721

Cap Rate

4.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,694,420 $1.7M

Cap Rate 7%

$1,210,300 $1.2M

Cap Rate 9%

$941,344 $941.3K

Market Conditions

NOI Build-Up for 4,949 SF

Gross rent

$152.0K $30.72/SF

− Vacancy

−$39.1K −$7.90/SF

EGI

$113.0K $22.82/SF

− OpEx

−$28.2K −$5.71/SF

NOI

$84.7K $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%

$1,694,420

Cap Rate 7%

$1,210,300

Cap Rate 9%

$941,344

Alternative Uses

Best Use

Office B

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,721 @ 7.0% cap · market cap 4.26%

Second Best

Flex RnD

$776.5K

$679.4K – $905.9K (±1% cap)

NOI $54,352 @ 7.0% cap · market cap 2.73%

Theoretical Best

Office A

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,937 @ 7.0% cap · market cap 5.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Princeton Construction Construction Company Wyze Money Financial Advisor

Suggested Use

Top Pick Electrical Service Grocery & Convenience Store Building Supply HVAC Service (Bike/Boat/Book/etc) Store Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,014

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Phoenix, AZ

14.4% 2019

19.3% 2020

21.7% 2021

24.3% 2022

27.4% 2023

28.5% 2024

26.5% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - 4,949 SF flex space remodeled in 2023 on 0.58 acres.

Where is this office units located?

The property is located at 4112 E Indian School Rd Phoenix, AZ.

What is the asking price?

The asking price for this property is $1,990,000.

What are key features of this property?

This property features: Remodeled in 2023; Building Size: 4,949 SF; Office Area: 1,500 SF Flex Space