Office-Flex Building on
420 N 15th Avenue Phoenix, AZ 85007
420 N 15th Avenue, Phoenix, AZ, 85007
$950,000
For Sale
$950,000
Class C office/flex building with newer AC, flooring, paint, and a secure fenced yard with storage containers.
Property Size2,800 SF
Price / SF$339.29
Days on Market79
Property Features for 420 N 15th Avenue
General Information
- Standard status
- Active
- Size
- 2,800 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing agency
OMNI Homes International
(520) 490-4000
Listed by
Danny A Roth · License #SA110911000
(520) 490-4000
Source
Sunhaven-realestate
Added: May 5 Updated: Jul 22 at 2:08AM Checked: Jul 22 at 2:08AM
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 OMNI Homes International
Investment Insights
Based on property information with market context.
This Class C office/flex building offers versatile space for office, showroom, contractor/professional service use, or light industrial uses. The property has newer AC units, newer flooring and paint, and a re-sealed roof. It also includes 3-phase power and a secure fenced yard. Three 20' Conex storage containers convey with the sale.
The building sits on a high-visibility corner lot in central Phoenix, with easy freeway access to I-17 and I-10. It is positioned for convenience to downtown Phoenix, the State Capitol, and key employment centers.
The property is zoned C-2, supporting a range of commercial and light industrial activities within an office-flex configuration.
The building sits on a high-visibility corner lot in central Phoenix, with easy freeway access to I-17 and I-10. It is positioned for convenience to downtown Phoenix, the State Capitol, and key employment centers.
The property is zoned C-2, supporting a range of commercial and light industrial activities within an office-flex configuration.
Key Highlights
- Versatile 2,800 SF Class C office/flex building on a high‑visibility corner lot in central Phoenix (year built 1960).
- Recent improvements include newer AC units, newer flooring and paint, and a re‑sealed roof.
- 3‑phase power and a secure fenced yard provide support for office, showroom, and light industrial uses.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.0k | $30.72 |
| − Vacancy | −$22.1k | −$7.90 |
| EGI | $63.9k | $22.82 |
| − OpEx | −$16.0k | −$5.71 |
| NOI | $47.9k | $17.12 |
2,800 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$684.7K
$599.2K – $798.9K
NOI $47,932 @ 7.0% cap · market cap 5.05%
Second Best
Retail
$452.1K
$395.6K – $527.4K
NOI $31,646 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$848.1K
$742.1K – $989.5K
NOI $59,370 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
@service
Auto Repair Shop
District Power
Electrical Service
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Class C office/flex building with newer AC, flooring, paint, and a secure fenced yard with storage containers.
Where is this flex space located?
The property is located at 420 N 15th Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Versatile 2,800 SF Class C office/flex building on a high‑visibility corner lot in central Phoenix (year built 1960).; Recent improvements include newer AC units, newer flooring and paint, and a re‑sealed roof.; 3‑phase power and a secure fenced yard provide support for office, showroom, and light industrial uses.
