Commercial Office Building with
For Sale
Contact for pricing
5060 North 19th Avenue, Phoenix, AZ 85015
Fully climate-controlled office building with a paved parking lot and 100 dedicated spaces for tenants and visitors.
Property Size54,777 SF
Price / SF$429.01
Days on Market60
Property Features for 5060 North 19th Avenue
General Information
Standard status
Active
Size
54,777 SF
Total Parking Spaces
100
Property subtype
Office
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Cap Rate
7%
Amenities
central air conditioning
security features
building signage opportunities
Listing Agency:
Bellagio Real Estate
Listed By:
Shannon Hall · License #BR117465000
Source:
Crexi
Added: Jul 17
Changed: Sep 9
Last Checked: Sep 13 at 6:52AM
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 Bellagio Real Estate
Investment Insights
Based on property information with market context.
This commercial office building totals approximately 54,777 square feet and is fully climate-controlled with central air conditioning. The roof is described as a durable foam rolled/hot mop system, and the property has direct connections to public water and sewer utilities. It is also presented with dedicated security features.
The property is located at 5060 North 19th Avenue in Phoenix and is described as being situated on a prominent, high-traffic commercial corridor with access to major Phoenix highways and thoroughfares. The offering notes premium building signage opportunities and provides a paved, private parking lot.
The parking lot includes 100 dedicated spaces. The property is described as fully designated for commercial use, supporting a range of business and office layouts within that zoning framework.
The property is located at 5060 North 19th Avenue in Phoenix and is described as being situated on a prominent, high-traffic commercial corridor with access to major Phoenix highways and thoroughfares. The offering notes premium building signage opportunities and provides a paved, private parking lot.
The parking lot includes 100 dedicated spaces. The property is described as fully designated for commercial use, supporting a range of business and office layouts within that zoning framework.
Key Highlights
- Offered at $23,500,000
- Approximately 54,777 sq. ft. commercial building
- Fully climate‑controlled with central air conditioning
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
$937,712
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
3.99%
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%
$18,754,240
$18.8M
Cap Rate 7%
$13,395,886
$13.4M
Cap Rate 9%
$10,419,022
$10.4M
Market Conditions
NOI Build-Up for 54,777 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
$1.68M $30.72/SF
− Vacancy
−$432.5K −$7.90/SF
EGI
$1.25M $22.82/SF
− OpEx
−$312.6K −$5.71/SF
NOI
$937.7K $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 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%
$18,754,240
Cap Rate 7%
$13,395,886
Cap Rate 9%
$10,419,022
Alternative Uses
Best Use
Office B
$13.40M
$11.72M – $15.63M
NOI $937,712 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.59M
$14.52M – $19.36M
NOI $1,161,470 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
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 building - Fully climate-controlled office building with a paved parking lot and 100 dedicated spaces for tenants and visitors.
Where is this office building located?
The property is located at 5060 North 19th Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $23,500,000.
What are key features of this property?
This property features: Offered at $23,500,000; Approximately 54,777 sq. ft. commercial building; Fully climate‑controlled with central air conditioning
