Remodeled Office
For Sale
$685,000
7220 N 16TH Street G, Phoenix, AZ 85020
Seven private offices, client-facing reception, meeting space, and a dedicated break area create a practical professional workplace.
Property Size2,238 SF
Price / SF$306.08
Days on Market85
Property Features for 7220 N 16TH Street G
General Information
Standard status
Active
Size
2,238 SF
Total Parking Spaces
2
Property subtype
Comm/industry Sale
Additional Details
Highway Access
Yes
Office Units
1
Listing Agency:
Platinum Realty Network
Listed By:
Pete Baldwin · License #BR537748000
(480) 326-6521
Source:
Zanebelden
Added: Jul 25
Changed: Oct 13
Last Checked: Oct 16 at 8:56AM
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 Platinum Realty Network
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Investment Insights
Based on property information with market context.
This 2,238 SF office condominium was built in 1982 and has been comprehensively remodeled with contemporary lighting, flooring, fixtures, and interior finishes. The layout includes seven private offices, a reception area with waiting space, a conference room, and a break room with kitchenette. The configuration combines enclosed work areas with shared spaces for meetings and day-to-day operations.
The property is located at 7220 N 16th St Unit G in Phoenix, with access to the 51 and a stated 10-minute connection to the airport and downtown. Nearby amenities include Sprouts, UPS, and restaurants, while the building’s position beside the canal provides direct access to a walking and jogging path.
Parking includes two first-level garage spaces, covered parking on the top deck of a two-story parking structure, and additional parking lot availability.
The property is located at 7220 N 16th St Unit G in Phoenix, with access to the 51 and a stated 10-minute connection to the airport and downtown. Nearby amenities include Sprouts, UPS, and restaurants, while the building’s position beside the canal provides direct access to a walking and jogging path.
Parking includes two first-level garage spaces, covered parking on the top deck of a two-story parking structure, and additional parking lot availability.
Key Highlights
- 2,238 SF remodeled office condominium at 7220 N 16th St Unit G
- Seven private offices with reception and waiting area
- Conference room plus break room and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,312
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,240
$766.2K
Cap Rate 7%
$547,314
$547.3K
Cap Rate 9%
$425,689
$425.7K
Market Conditions
NOI Build-Up for 2,238 SF
Gross rent
$68.8K $30.72/SF
− Vacancy
−$17.7K −$7.90/SF
EGI
$51.1K $22.82/SF
− OpEx
−$12.8K −$5.71/SF
NOI
$38.3K $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%
$766,240
Cap Rate 7%
$547,314
Cap Rate 9%
$425,689
Alternative Uses
Best Use
Office B
$547.3K
$478.9K – $638.5K
NOI $38,312 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.9K
$593.2K – $790.9K
NOI $47,454 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
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 units - Seven private offices, client-facing reception, meeting space, and a dedicated break area create a practical professional workplace.
Where is this office units located?
The property is located at 7220 N 16TH Street G Phoenix, AZ.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 2,238 SF remodeled office condominium at 7220 N 16th St Unit G; Seven private offices with reception and waiting area; Conference room plus break room and kitchenette
