Office Condo with Indian School
For Sale
Contact for pricing
9150 W Indian School Road, Phoenix, AZ 85037
Office condo with reception, conference rooms, private offices, and Indian School frontage.
Property Size2,641 SF
Price / SF$354.03
Days on Market144
Property Features for 9150 W Indian School Road
General Information
Standard status
Active
Size
2,641 SF
Class
A
Property subtype
Office
Zoning
C1: Neighborhood Commercial
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Amenities
building signage
monument signage
Building Details
Year Built
2005
Stories
1
Listing Agency:
Velocity Retail Group
Listed By:
Greg White · License #SA027217000
Source:
Crexi
Added: Apr 24
Changed: Sep 11
Last Checked: Sep 13 at 4:52AM
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 Velocity Retail Group
Investment Insights
Based on property information with market context.
Indian School Professional Plaza offers an office condo unit with Indian School Road frontage. Suite 103 is a condo buildout featuring a reception area, two conference rooms, two bathrooms, five private offices, and a large bullpen space.
This is the only building within the condo complex that has Indian School frontage, providing visibility along the corridor. The property also includes building signage and monument signage, and it is located a few blocks off the 101 Freeway.
The unit’s interior improvements are finished to a high-end standard, designed to support professional office use with both private and collaborative workspaces.
This is the only building within the condo complex that has Indian School frontage, providing visibility along the corridor. The property also includes building signage and monument signage, and it is located a few blocks off the 101 Freeway.
The unit’s interior improvements are finished to a high-end standard, designed to support professional office use with both private and collaborative workspaces.
Key Highlights
- Office condo (Ste 103) built in 2005 with 2,641 SF and Indian School frontage
- Only building in the condo complex with Indian School frontage
- Buildout includes reception, 2 conference rooms, large bull pen, 5 private offices, and 2 bathrooms
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
$45,211
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
4.84%
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%
$904,220
$904.2K
Cap Rate 7%
$645,871
$645.9K
Cap Rate 9%
$502,344
$502.3K
Market Conditions
NOI Build-Up for 2,641 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
$81.1K $30.72/SF
− Vacancy
−$20.9K −$7.90/SF
EGI
$60.3K $22.82/SF
− OpEx
−$15.1K −$5.71/SF
NOI
$45.2K $17.12/SF
Area
ZIP 85037
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 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%
$904,220
Cap Rate 7%
$645,871
Cap Rate 9%
$502,344
Alternative Uses
Best Use
Office B
$645.9K
$565.1K – $753.5K
NOI $45,211 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$800.0K
$700.0K – $933.3K
NOI $55,999 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 85037, AZ
50,929
Population
16,020
Households
3.2
Avg Household Size
29
Median Age
14%
College-Educated
79%
High-School Grad
8.2 sq mi
ZIP Area
6,211
Density / Sq Mi
$81,919
Median Household Income
$40,866
Median Earnings
$1,649
Median Rent
$290,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Office units - Office condo with reception, conference rooms, private offices, and Indian School frontage.
Where is this office units located?
The property is located at 9150 W Indian School Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Office condo (Ste 103) built in 2005 with 2,641 SF and Indian School frontage; Only building in the condo complex with Indian School frontage; Buildout includes reception, 2 conference rooms, large bull pen, 5 private offices, and 2 bathrooms
