Office Building with Multiple
New
For Sale
$1,525,000
7122 N 59th Ave, Glendale, AZ 85301
Established office property with multiple suites near retail and office amenities.
Property Size5,600 SF
Price / SF$272.32
Days on Market2
Property Features for 7122 N 59th Ave
General Information
Standard status
Active
Size
5,600 SF
Class
B
Property subtype
Office
Additional Details
Asking Price
$1,525,000
Building Details
Building Size
5,600 SF
Year Built
1985
Buildings
1
Listing Agency:
(480) 846-0601
Listed By:
Nicholas Aldini
Source:
Menlocre
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:30AM
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 Nicholas Aldini
Investment Insights
Based on property information with market context.
Built in 1985, this office building at 7122 N 59th Ave in Glendale, Arizona, contains approximately 5,600 square feet. The property includes Suite 102, measuring approximately 720 square feet, and Suite 201, measuring approximately 2,802 square feet. NNN lease terms are identified for the suites.
The building is located just off Grande Ave and near retail and office amenities. Its Glendale setting and suite layout provide a defined office asset with both smaller and larger identified spaces within the property.
The building is located just off Grande Ave and near retail and office amenities. Its Glendale setting and suite layout provide a defined office asset with both smaller and larger identified spaces within the property.
Key Highlights
- Approximately 5,600 SF office building
- Suite 201 contains approximately 2,802 SF
- Suite 102 contains approximately 720 SF
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
$85,932
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
5.63%
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%
$1,718,640
$1.7M
Cap Rate 7%
$1,227,600
$1.2M
Cap Rate 9%
$954,800
$954.8K
Market Conditions
NOI Build-Up for 5,600 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
$147.8K $26.40/SF
− Vacancy
−$33.3K −$5.94/SF
EGI
$114.6K $20.46/SF
− OpEx
−$28.6K −$5.12/SF
NOI
$85.9K $15.35/SF
Area
Glendale, AZ
Vacancy
22.50%
Lease Rate
$26.40 /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%
$1,718,640
Cap Rate 7%
$1,227,600
Cap Rate 9%
$954,800
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,932 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,132 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Established office property with multiple suites near retail and office amenities.
Where is this office building located?
The property is located at 7122 N 59th Ave Glendale, AZ.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Approximately 5,600 SF office building; Suite 201 contains approximately 2,802 SF; Suite 102 contains approximately 720 SF
