Two-Story Office
For Sale
$4,999,000
5320 N 16TH Street, Phoenix, AZ 85016
Established office property with occupied suites, additional space, and parking for professional users.
Property Size19,640 SF
Lot Size1.14 Acres
Price / SF$254.66
Days on Market13
Property Features for 5320 N 16TH Street
General Information
Standard status
Active
Size
19,640 SF
Lot size
1.14 Acres
Property subtype
COMMERCIAL
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$30,678
Building Details
Building Size
19,640 SF
Year Built
1975
Buildings
1
Stories
2
Listing Agency:
Wrangler Real Estate
(480) 313-2246
Listed By:
Timothy W Schutt · License #BR567000000
(480) 313-2246
Source:
Jcluxuryresidential
Added: Jul 30
Changed: Aug 3
Last Checked: Aug 10 at 9:12AM
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 Wrangler Real Estate
Investment Insights
Based on property information with market context.
This two-story office property was constructed in 1975 and contains 19,630 square feet on a 1.14-acre site. The building is primarily occupied by office tenants, with additional suites ranging from 700 to 2,016 square feet. On-site parking supports the existing office configuration and professional-business use.
The property is positioned in the Camelback Corridor, just off SR-51, within an area described as having substantial office and business demand. Its location provides access to the corridor and nearby neighborhood development. Available suites can be adjusted to accommodate different office requirements, subject to the stated space parameters.
The property is positioned in the Camelback Corridor, just off SR-51, within an area described as having substantial office and business demand. Its location provides access to the corridor and nearby neighborhood development. Available suites can be adjusted to accommodate different office requirements, subject to the stated space parameters.
Key Highlights
- 19,630‑square‑foot, two‑story office building constructed in 1975
- 1.14‑acre site in the Camelback Corridor
- Primarily occupied office property with additional suites available
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
$336,040
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
6.72%
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%
$6,720,800
$6.7M
Cap Rate 7%
$4,800,571
$4.8M
Cap Rate 9%
$3,733,778
$3.7M
Market Conditions
NOI Build-Up for 19,630 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
$603.0K $30.72/SF
− Vacancy
−$155.0K −$7.90/SF
EGI
$448.1K $22.82/SF
− OpEx
−$112.0K −$5.71/SF
NOI
$336.0K $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%
$6,720,800
Cap Rate 7%
$4,800,571
Cap Rate 9%
$3,733,778
Alternative Uses
Best Use
Office B
$4.80M
$4.20M – $5.60M
NOI $336,040 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.95M
$5.20M – $6.94M
NOI $416,227 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,857
Businesses Nearby
Explore this area
Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
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 - Established office property with occupied suites, additional space, and parking for professional users.
Where is this office building located?
The property is located at 5320 N 16TH Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,999,000.
What are key features of this property?
This property features: 19,630‑square‑foot, two‑story office building constructed in 1975; 1.14‑acre site in the Camelback Corridor; Primarily occupied office property with additional suites available
