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    The Largest CRE Database in the US with Over 1 Million Listings

    1990 Camelback Rd Phoenix, AZ 85015

    Sponsored
    For Lease
    $18 SF/Yr

    Prestigious Camelback Road Office Suites

    Lot size:
    106,398 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional four-story executive office building, located at 1990 W Camelback Rd in Phoenix, Arizona, offers a variety of lease-ready suites. The property, built in 1983, boasts a total of 106,398 square feet situated on a generous 4.18-acre lot. The building is ideally suited for businesses seeking high-quality office space in a prime location. Multiple tenancy options are available, with suites ranging from 1,099 square feet to 3,789 square feet, providing flexibility for companies of various sizes. The building's location in Maricopa County, Arizona, offers easy access to major transportation arteries and a wealth of amenities. The address, 1990 W Camelback Rd, places the property in a highly desirable and visible area of Phoenix, enhancing its prestige and appeal. This is a rare opportunity to secure office space in a well-maintained, established building with a proven track record. The property's size and layout offer significant potential for businesses seeking a prominent presence in the Phoenix market. Interested parties are encouraged to inquire about available suite sizes and lease terms. The zip code is 85015.

    Property Features for 1990 Camelback Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    106,398 SF
    Total Rate
    159597

    Building Details

    Year Built
    1983
    Stories
    4

    Unit(s) available at that property

    Space
    Suite 209
    Size
    3,789 SF
    Rate per SF
    $18
    Space
    Suite 408
    Size
    2,033 SF
    Rate per SF
    $18
    Space
    Suite 102
    Size
    2,743 SF
    Rate per SF
    $18
    Space
    Suite 101A
    Size
    1,099 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Don Morrow
    Don Morrow

    Learn more

    Property Insight Report

    HighLights

    • Competitive lease rates.
    • Lease‑ready spec suites available.
    • Monument signage opportunity.
    • High‑quality tenant finishes with floor‑to‑ceiling interior glass.
    • Attractive architecture with reflective glass curtain wall.
    • Excellent upper‑floor views.
    Property Profile Location Intelligence

    Current Use by Public Records

    Oester - Riccobono Immigration Attorney Gaxiola Richard Attorney Endeavor HCBS Hospice Camelback Executive Realtors Real Estate Agency M & A Innovations Advertising Advertising Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.101431
    Latitude
    33.5103176

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    FAQs

    What type of property is this?
    Office Property Space - Prestigious Camelback Road Office Suites
    Where is this office property space located?
    The property is located at 1990 Camelback Rd Phoenix, AZ.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Competitive lease rates.; Lease-ready spec suites available.; Monument signage opportunity.
    Request Owner's contact information
    1990 Camelback Rd Phoenix, AZ 85015
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1990 Camelback Rd Phoenix, AZ 85015
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    We can help!
    Listing Contact
    Don Morrow
    Don Morrow
    Real Estate License ID: AZ BR016257000
    Learn more
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