Modern Office Building For
555 W Turney Ave Phoenix, AZ 85013
For Sale
Contact for pricing
Office building with sleek atmosphere for professional workplace.
Property Size24,210 SF
Price / SF$295
Days on Market646
Property Features for 555 W Turney Ave
General Information
- Standard status
- Active
- Size
- 24,210 SF
- Property subtype
- Retail, Office
Listing Agency:
Kidder Mathews
(858) 964-8019
Listed By:
Chris Jantz · License #AZ SA511251000
Source:
Crexi
Added: Oct 17, 2024
Changed: Jul 6
Last Checked: Jul 23 at 4:00AM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
The Melrose Building is designed for the modern office user, providing a comfortable and sleek atmosphere that creates an elegant and professional workplace. The property has a size of 24210 square feet.
Key Highlights
- Modern office space designed for today's business needs
- Comfortable atmosphere creating a pleasant work environment
- Sleek design throughout the office
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $743.7k | $30.72 |
| − Vacancy | −$191.1k | −$7.90 |
| EGI | $552.6k | $22.82 |
| − OpEx | −$138.1k | −$5.71 |
| NOI | $414.4k | $17.12 |
24,210 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.92M
$5.18M – $6.91M
NOI $414,444 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.33M
$6.42M – $8.56M
NOI $513,339 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Forward Loans :: PHX
Loan Service
CoOperate Melrose
Coworking & Hybrid Office
The Material Collective
Big Box & Wholesale Store
FAQs
What type of property is this?
Office building - Office building with sleek atmosphere for professional workplace.
Where is this office building located?
The property is located at 555 W Turney Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $7,141,950.
What are key features of this property?
This property features: Modern office space designed for today's business needs; Comfortable atmosphere creating a pleasant work environment; Sleek design throughout the office
