Professional Office Condo
For Sale
$1,670,000
4550 E Bell Road #142, Phoenix, AZ 85032
Individually platted office units are offered together in a 2006 commercial building.
Property Size6,003 SF
Price / SF$278.19
Days on Market36
Property Features for 4550 E Bell Road #142
General Information
Standard status
Active
Size
6,003 SF
Property subtype
Commercial
Zoning
C-O
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$13,701
Building Details
Building Size
6,003 SF
Year Built
2006
Buildings
1
Stories
1
Listing Agency:
Libertas Real Estate
(602) 800-4042
Listed By:
Ian Johnson · License #BR632935000
(602) 800-4042
Source:
Aznewhorizonrealty
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 24 at 5:31AM
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 office condominium units within Building 4 at Suites 136, 139, and 142. The units are individually platted, carry separate APNs, and are being sold as a single package rather than separately. The current configuration is used for professional office purposes, providing an established commercial setting for an owner-user or office investor.
The property is located at 4550 E Bell Rd in Phoenix, within minutes of Mayo Clinic, Abrazo Scottsdale, Honor Health, and other healthcare providers serving the North Phoenix, Paradise Valley, and Desert Ridge corridor. The building dates to 2006, and the combined PropertySize is 6,003 square feet.
The property is located at 4550 E Bell Rd in Phoenix, within minutes of Mayo Clinic, Abrazo Scottsdale, Honor Health, and other healthcare providers serving the North Phoenix, Paradise Valley, and Desert Ridge corridor. The building dates to 2006, and the combined PropertySize is 6,003 square feet.
Key Highlights
- Three individually platted office condo units offered together
- Suites 136, 139, and 142 in Building 4
- 6,003 square feet total PropertySize
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
—
—
no second resolved use
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
Property Profile
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
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Individually platted office units are offered together in a 2006 commercial building.
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 offered together; Suites 136, 139, and 142 in Building 4; 6,003 square feet total PropertySize
