Three-Unit Office Condo Building
For Sale
$1,670,000
4550 E BELL Road 142, Phoenix, AZ 85032
Three individually platted office condo units total 5,900 SF in building 4, suited for professional office use.
Property Size6,003 SF
Price / SF$278.19
Days on Market48
Property Features for 4550 E BELL Road 142
General Information
Standard status
Active
Size
6,003 SF
Property subtype
Comm/industry Sale
Additional Details
Office Units
3
Listing Agency:
Libertas Real Estate
(623) 271-9742
Listed By:
Ian Johnson · License #BR632935000
(602) 800-4042
Source:
Nicolesecrest
Added: Jul 29
Changed: Sep 12
Last Checked: Sep 13 at 11:54AM
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 Libertas Real Estate
Investment Insights
Based on property information with market context.
This offering includes three individually platted office condo units located in building 4: Suites 136, 139, and 142. The units are identified by separate APNs (215-18-534, 215-18-533, and 215-18-532). Total size is 5,900 SF, and the property is currently used as professional office space.
The units are marketed as an opportunity for medical office conversion, with any changes dependent on the build-out selected. The property is positioned in the North Phoenix / Paradise Valley / Desert Ridge healthcare corridor and is described as minutes from multiple major providers, including Mayo Clinic, Abrazo Scottsdale, and Honor Health.
Built in 2006, the building is part of an office condo configuration designed for separate suites within the same structure. Buyers should perform their due diligence regarding suitability for their intended office or medical build-out plans.
The units are marketed as an opportunity for medical office conversion, with any changes dependent on the build-out selected. The property is positioned in the North Phoenix / Paradise Valley / Desert Ridge healthcare corridor and is described as minutes from multiple major providers, including Mayo Clinic, Abrazo Scottsdale, and Honor Health.
Built in 2006, the building is part of an office condo configuration designed for separate suites within the same structure. Buyers should perform their due diligence regarding suitability for their intended office or medical build-out plans.
Key Highlights
- Three individually platted office condo units in building 4: Suites 136, 139 and 142
- Not being sold individually; offered as a three‑suite package
- Total 5,900 SF professional office use
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
$102,764
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
6.15%
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%
$2,055,280
$2.1M
Cap Rate 7%
$1,468,057
$1.5M
Cap Rate 9%
$1,141,822
$1.1M
Market Conditions
NOI Build-Up for 6,003 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
$184.4K $30.72/SF
− Vacancy
−$47.4K −$7.90/SF
EGI
$137.0K $22.82/SF
− OpEx
−$34.3K −$5.71/SF
NOI
$102.8K $17.12/SF
Area
ZIP 85032
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 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%
$2,055,280
Cap Rate 7%
$1,468,057
Cap Rate 9%
$1,141,822
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,764 @ 7.0% cap · market cap 6.15%
Second Best
Healthcare Medical
$1.22M
$1.07M – $1.43M
NOI $85,579 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,020 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
Explore this area
Business Placement
Demographics for 85032, AZ
68,710
Population
30,386
Households
2.3
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
5,541
Density / Sq Mi
$74,331
Median Household Income
$44,790
Median Earnings
$1,492
Median Rent
$387,900
Median Home Value
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Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office units - Three individually platted office condo units total 5,900 SF in building 4, suited for professional office use.
Where is this office units located?
The property is located at 4550 E BELL Road 142 Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,670,000.
What are key features of this property?
This property features: Three individually platted office condo units in building 4: Suites 136, 139 and 142; Not being sold individually; offered as a three‑suite package; Total 5,900 SF professional office use
