Two-Story Office
For Sale
$650,000
7220 N 16TH Street F, Phoenix, AZ 85020
Two-story condo office suite with private offices, conference space, and covered parking within an established complex.
Property Size2,618 SF
Price / SF$248.28
Days on Market127
Property Features for 7220 N 16TH Street F
General Information
Standard status
Active
Size
2,618 SF
Property subtype
Comm/Industry Sale
Site & Location
Neighborhood
Camelback East
Building Details
Stories
2
Listing Agency:
R.O.I. Properties
Listed By:
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source:
Kelliesellsaz
Added: Jun 22
Changed: Oct 25
Last Checked: Oct 24 at 6:27PM
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 R.O.I. Properties
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Investment Insights
Based on property information with market context.
This two-story office condominium totals 2,618 square feet and offers a functional, professional layout. Inside, the space includes eight private offices, a spacious conference room, a reception area, a break room, and storage. There are two restrooms, including one with a shower, providing flexibility for day-to-day operations.
The property is located within an established office complex near 16th Street and Glendale Avenue. It provides convenient access to SR-51, the Camelback Corridor, and Downtown Phoenix. Covered parking is available, along with ample additional parking, and the location is near the Arizona Canal Trail.
For tenant-operators and buyers seeking to own space, the configuration supports a range of professional uses. The private office mix and dedicated reception and conference area make it well-suited for law firms, accounting and consulting practices, medical users, and other professional service businesses that value an office environment they can control long term.
The property is located within an established office complex near 16th Street and Glendale Avenue. It provides convenient access to SR-51, the Camelback Corridor, and Downtown Phoenix. Covered parking is available, along with ample additional parking, and the location is near the Arizona Canal Trail.
For tenant-operators and buyers seeking to own space, the configuration supports a range of professional uses. The private office mix and dedicated reception and conference area make it well-suited for law firms, accounting and consulting practices, medical users, and other professional service businesses that value an office environment they can control long term.
Key Highlights
- 2,618 SF two‑story office condominium built in 1982
- Includes eight private offices plus a spacious conference room and reception area
- Break room, storage space, and two restrooms including one with a shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,817
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,340
$896.3K
Cap Rate 7%
$640,243
$640.2K
Cap Rate 9%
$497,967
$498.0K
Market Conditions
NOI Build-Up for 2,618 SF
Gross rent
$80.4K $30.72/SF
− Vacancy
−$20.7K −$7.90/SF
EGI
$59.8K $22.82/SF
− OpEx
−$14.9K −$5.71/SF
NOI
$44.8K $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 Rate 5%
$896,340
Cap Rate 7%
$640,243
Cap Rate 9%
$497,967
Alternative Uses
Best Use
Office B
$640.2K
$560.2K – $747.0K
NOI $44,817 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$793.0K
$693.9K – $925.2K
NOI $55,511 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office unit - Two-story condo office suite with private offices, conference space, and covered parking within an established complex.
Where is this office unit located?
The property is located at 7220 N 16TH Street F Phoenix, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,618 SF two‑story office condominium built in 1982; Includes eight private offices plus a spacious conference room and reception area; Break room, storage space, and two restrooms including one with a shower
