Two-Unit Office
828 N 3rd St Phoenix, AZ 85004
828 N 3rd St, Phoenix, AZ, 85004
$3,500,000
For Sale
$3,500,000
6,906 SF office building built in 1978 and renovated in 2005, with two units and 70% occupancy.
Property Size6,906 SF
Price / SF$506.81
Days on Market154
Property Features for 828 N 3rd St
General Information
- Standard status
- Active
- Size
- 6,906 SF
- Property subtype
- Single Tenant Office
Building Details
- Year Built
- 1978
Properties For Sale
at 828 N 3rd St Contact us
Listing agency
Comercial 33
(480) 217-9599
Listed by
Josh Landers
(480) 217-9599
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 21 at 2:09PM Checked: Jul 21 at 2:09PM
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 Comercial 33
Investment Insights
Based on property information with market context.
This well-maintained two-unit office building totals 6,906 SF and was built in 1978. The property underwent renovation in 2005 and is currently operating at approximately 70% occupancy, creating a measurable level of income generation for an owner or investor.
The building is located at 828 N 3rd St in Phoenix and is zoned DTC. The surrounding area described in the remarks includes a historic downtown environment with nearby cultural attractions such as the Phoenix Art Museum, Heard Museum, and Arizona Science Center.
From a tenancy standpoint, the building’s two-unit configuration provides flexibility for office users while maintaining a single, cohesive ownership structure under one roof.
The building is located at 828 N 3rd St in Phoenix and is zoned DTC. The surrounding area described in the remarks includes a historic downtown environment with nearby cultural attractions such as the Phoenix Art Museum, Heard Museum, and Arizona Science Center.
From a tenancy standpoint, the building’s two-unit configuration provides flexibility for office users while maintaining a single, cohesive ownership structure under one roof.
Key Highlights
- 6,906 SF office building built in 1978, renovated in 2005, with two units
- Zoned DTC
- Currently 70% occupancy
Local 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 | $212.2k | $30.72 |
| − Vacancy | −$54.5k | −$7.90 |
| EGI | $157.6k | $22.82 |
| − OpEx | −$39.4k | −$5.71 |
| NOI | $118.2k | $17.12 |
6,906 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,222 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,432 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kitchen Sink Creative
Advertising Agency
Stellar Technologies
Tech Support Center
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 6,906 SF office building built in 1978 and renovated in 2005, with two units and 70% occupancy.
Where is this office building located?
The property is located at 828 N 3rd St Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 6,906 SF office building built in 1978, renovated in 2005, with two units; Zoned DTC; Currently 70% occupancy
