Multi-Suite Office
For Sale
$750,000
6721 N Black Cyn Highway, Phoenix, AZ 85015
Three flexible office suites in a well-maintained building with updated interiors and ample on-site parking.
Property Size2,843 SF
Price / SF$263.81
Days on Market416
Property Features for 6721 N Black Cyn Highway
General Information
Standard status
Active
Size
2,843 SF
Property subtype
Commercial
Zoning
R-5
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,970
Building Details
Building Size
2,843 SF
Year Built
1984
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Camelback Executive Realtors
(602) 206-5497
Listed By:
Maricela Mederos · License #SA555392000
(602) 206-5497
Source:
Aznewhorizonrealty
Added: Jul 4, 2025
Changed: Aug 8
Last Checked: Aug 22 at 2:16PM
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 Camelback Executive Realtors
Investment Insights
Based on property information with market context.
This property offers three distinct commercial suites within a single building, creating flexibility for a range of business types. The suites are designed to accommodate both smaller and larger operations, with adaptable, functional layouts intended to support uses such as offices, clinics, dealer-style businesses, and day care operations. The property is described as well-maintained, with updates to both the interior and exterior to support a professional, welcoming presentation.
The building is positioned for convenient access to major highways, supporting straightforward connectivity to surrounding areas. The property is also noted for excellent visibility, which can help increase awareness for businesses serving both employees and customers. Ample on-site parking is provided for employees and customers, aiming to support smooth arrival and day-to-day traffic.
For tenants, buyers, or operators, the multi-suite configuration can allow for flexible occupancy strategies, whether you are looking to lease a single suite or plan to work within a shared building environment. With suite options intended for both office and client-facing uses, this property may be a practical fit for businesses that need a professional interior, parking convenience, and easy highway access.
The building is positioned for convenient access to major highways, supporting straightforward connectivity to surrounding areas. The property is also noted for excellent visibility, which can help increase awareness for businesses serving both employees and customers. Ample on-site parking is provided for employees and customers, aiming to support smooth arrival and day-to-day traffic.
For tenants, buyers, or operators, the multi-suite configuration can allow for flexible occupancy strategies, whether you are looking to lease a single suite or plan to work within a shared building environment. With suite options intended for both office and client-facing uses, this property may be a practical fit for businesses that need a professional interior, parking convenience, and easy highway access.
Key Highlights
- Commercial building built in 1984 with three distinct office suites
- Well‑maintained property with updated interiors and updated exterior
- Flexible suite layout suitable for a range of uses (dealer, clinic, day care, offices and more)
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
$48,669
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
6.49%
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%
$973,380
$973.4K
Cap Rate 7%
$695,271
$695.3K
Cap Rate 9%
$540,767
$540.8K
Market Conditions
NOI Build-Up for 2,843 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
$87.3K $30.72/SF
− Vacancy
−$22.4K −$7.90/SF
EGI
$64.9K $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%
$973,380
Cap Rate 7%
$695,271
Cap Rate 9%
$540,767
Alternative Uses
Best Use
Office B
$695.3K
$608.4K – $811.2K
NOI $48,669 @ 7.0% cap · market cap 6.49%
Second Best
Healthcare Medical
$579.0K
$506.6K – $675.5K
NOI $40,530 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$861.2K
$753.5K – $1.00M
NOI $60,282 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
631
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 units - Three flexible office suites in a well-maintained building with updated interiors and ample on-site parking.
Where is this office units located?
The property is located at 6721 N Black Cyn Highway 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: Commercial building built in 1984 with three distinct office suites; Well‑maintained property with updated interiors and updated exterior; Flexible suite layout suitable for a range of uses (dealer, clinic, day care, offices and more)
