Charming Phoenix Office
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531 E Lynwood St, Phoenix, AZ 85004
Two-story office building in Phoenix's Central Corridor submarket.
Property Size2,847 SF
Price / SF$263.44
Days on Market205
Property Features for 531 E Lynwood St
General Information
Standard status
Active
Size
2,847 SF
Property subtype
Office
Zoning
DTC-EEVER
Building Details
Year Built
1974
Listing Agency:
Commercial Properties Inc Tempe
(602) 373-4717
Listed By:
Brandon Koplin · License #AZ SA567178000
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 17 at 6:39AM
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 Commercial Properties Inc Tempe
Investment Insights
Based on property information with market context.
This two-story building offers a single-tenant owner/user opportunity suitable for professional services. The interior features a reception area, a formal dining/conference room, and a full kitchen. The layout includes seven offices, multiple storage closets, three restrooms, and a shower. Currently used as a permitted counseling office, the property is located within the DTC-Evergreen zoning district, making it adaptable for various professional uses. The exterior includes a small, quiet private yard area and a second-story deck. The property is centrally located in Phoenix within the Central Corridor submarket, with access to major thoroughfares and downtown amenities, while maintaining a quiet, professional atmosphere. The property size is 2847 square feet.
Key Highlights
- Centrally located in Phoenix's sought‑after Central Corridor submarket with convenient access to major thoroughfares and downtown amenities.
- Adaptable DTC‑Evergreen zoning suitable for various professional services.
- Well‑appointed interior with reception area, formal dining/conference room, full kitchen, and seven dedicated offices.
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
$48,737
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
6.50%
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%
$974,740
$974.7K
Cap Rate 7%
$696,243
$696.2K
Cap Rate 9%
$541,522
$541.5K
Market Conditions
NOI Build-Up for 2,847 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
$87.5K $30.72/SF
− Vacancy
−$22.5K −$7.90/SF
EGI
$65.0K $22.82/SF
− OpEx
−$16.2K −$5.71/SF
NOI
$48.7K $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%
$974,740
Cap Rate 7%
$696,243
Cap Rate 9%
$541,522
Alternative Uses
Best Use
Office B
$696.2K
$609.2K – $812.3K
NOI $48,737 @ 7.0% cap · market cap 6.50%
Second Best
Healthcare Medical
$579.8K
$507.3K – $676.5K
NOI $40,587 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$862.4K
$754.6K – $1.01M
NOI $60,367 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 85004, AZ
8,833
Population
6,455
Households
1.4
Avg Household Size
32
Median Age
59%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
4,206
Density / Sq Mi
$71,250
Median Household Income
$46,376
Median Earnings
$1,759
Median Rent
$365,500
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 - Two-story office building in Phoenix's Central Corridor submarket.
Where is this office building located?
The property is located at 531 E Lynwood St Phoenix, AZ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Centrally located in Phoenix's sought‑after Central Corridor submarket with convenient access to major thoroughfares and downtown amenities.; Adaptable DTC‑Evergreen zoning suitable for various professional services.; Well‑appointed interior with reception area, formal dining/conference room, full kitchen, and seven dedicated offices.
