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    11225 N 28th Dr Phoenix, AZ 85029

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    For Lease
    Contact for pricing

    Resort-style office environment with landscaping and fountain courtyards.

    Type:Office
    Added:
    Apr 23, 2020
    Days on Market:
    2185
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 11225 N 28th Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1982

    Spaces For Lease

    at 11225 N 28th Dr Contact us

    Suite A210 $22 /Mo

    Size
    820 SF
    Type
    Office
    Reception, 2 window offices, 1 interior office and storage area
    Contact us

    Suite D115E $20 /Mo

    Size
    242 SF
    Type
    Office
    1 room executive suite with sidelight
    Contact us

    Suite C210 $22 /Mo

    Size
    639 SF
    Type
    Office
    Reception, two (2) window offices and (1) Huddle room
    Contact us

    Suite B219 $22 /Mo

    Size
    529 SF
    Type
    Office
    Private reception area and window office. Includes shared conference rooms, huddle...
    show more
    Contact us

    Suite D220A $20 /Mo

    Size
    624 SF
    Type
    Office
    Reception Area, 2 Window Offices and work area.
    Contact us

    Suite: B213 $22 /Mo

    Size
    506 SF
    Type
    Office
    Private reception area and window office. Includes shared conference rooms, huddle...
    show more
    Contact us

    Suite D105 $24 /Mo

    Size
    167 SF
    Type
    Office
    Window office located on the first floor with a walk up entrance from the courtyard....
    show more
    Contact us

    Suite C214 $19 /Mo

    Size
    1,591 SF
    Type
    Office
    Reception, Bullpen, Huddle Room, and 3 privates offices
    Contact us

    Suite: B227 $22 /Mo

    Size
    577 SF
    Type
    Office
    Private reception area and window office. Includes shared conference rooms, huddle...
    show more
    Contact us

    Suite A201 $21 /Mo

    Size
    8,532 SF
    Type
    Office
    Reception, Four (4) window offices, one (1) conference room, one (1) large break...
    show more
    Contact us

    Suite C216 $19 /Mo

    Size
    566 SF
    Type
    Office
    Reception, Huddle Room, and two (2) interior Offices. Available
    Contact us

    Suite D220C $20 /Mo

    Size
    902 SF
    Type
    Office
    Office suite with reception area, 2 window offices and 1 internal office.
    Contact us

    Suite D218 $22 /Mo

    Size
    1,419 SF
    Type
    Office
    Four office suite (Three offices with windows), reception area and bullpen
    Contact us

    Suite D115A $21 /Mo

    Size
    153 SF
    Type
    Office
    1 internal executive suite
    Contact us

    Suite C203 $21 /Mo

    Size
    1,621 SF
    Type
    Office
    Office suite with Reception area,(1) Conference Room,(2) Window Offices,(3) Interior...
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    Contact us

    Suite A102-08 $28 /Mo

    Size
    205 SF
    Type
    Office
    Interior office with sidelight. includes shared waiting areas, conference rooms,...
    show more
    Contact us

    Suite A102-04 $27 /Mo

    Size
    350 SF
    Type
    Office
    Workstyle office with sidelight with shared common area seating, access to conference...
    show more
    Contact us

    Suite D107 $21 /Mo

    Size
    1,135 SF
    Type
    Office
    (Reception, 4) interior offices, storage area Available 9/1/2024
    Contact us

    Suite D213 $20 /Mo

    Size
    1,139 SF
    Type
    Office
    Reception, one (1) interior Office, two (2) window offices.
    Contact us

    Suite D212 $21 /Mo

    Size
    731 SF
    Type
    Office
    Available 3/1/2023: Reception area, 1 storage closet, bullpen and 1 private Office.
    Contact us
    Show more

    We can help!

    Listing Contact
    Brooke Maher

    Listing agent Brooke Maher License #AZ 0000

    Listing office Boxer Property

    Listing date Apr 23, 2020

    Source Crexi

    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 Boxer Property

    Overview

    Professional Office Space Available

    Lakeside Center offers a professional, resort-style office environment characterized by landscaping and fountain courtyards. The property provides office space and includes free space planning and tenant applications available via website. On-site amenities include a deli, maintenance staff, and property management.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Guinness UDV/Diageo Big Box & Wholesale Store UScashforhomes.com Real Estate Agency Hartley Markov Law Law Firm Skalable Technologies (Bike/Boat/Book/etc) Store Nevertheless Counseling and Consulting Counselor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Similar Places Nearby

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    • SLK Holdings — 10040 N 25th Ave, Phoenix, AZ 85021
    • K-2 Graphix — 2432 W Peoria Ave #1222, Phoenix, AZ 85029

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.1211251
    Latitude
    33.5882802

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    FAQs

    What type of property is this?
    Office property - Resort-style office environment with landscaping and fountain courtyards.
    Where is this office property located?
    The property is located at 11225 N 28th Dr Phoenix, AZ.
    What are key features of this property?
    This property features: Professional‑resort style office environment with lush landscaping and fountain courtyards.; Quality, affordable office space.; On‑site deli.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brooke Maher
    Real Estate License ID: AZ 0000
    Learn More
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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
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