Two-Story Office
For Sale
$650,000
F-7220 N 16th Street, Phoenix, AZ 85020
Two-story office unit with eight private offices, conference room, reception, break room, storage, and two restrooms.
Property Size2,618 SF
Price / SF$248.28
Days on Market121
Property Features for F-7220 N 16th Street
General Information
Standard status
Active
Size
2,618 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,715
Building Details
Stories
2
Listing Agency:
R.O.I. Properties
Listed By:
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source:
Exprealty
Added: Jun 19
Changed: Oct 4
Last Checked: Oct 16 at 11:35AM
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 R.O.I. Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story office condominium offers a functional interior layout designed for day-to-day office operations. The space includes eight private offices, a spacious conference room, a reception area, a break room, storage space, and two restrooms, including one restroom with a shower.
Located within an established office complex near 16th Street and Glendale Avenue, the property provides convenient access to SR-51, the Camelback Corridor, and Downtown Phoenix.
The configuration supports both individual workspaces and meeting needs, with dedicated common areas for receiving visitors and handling break-time functions.
Located within an established office complex near 16th Street and Glendale Avenue, the property provides convenient access to SR-51, the Camelback Corridor, and Downtown Phoenix.
The configuration supports both individual workspaces and meeting needs, with dedicated common areas for receiving visitors and handling break-time functions.
Key Highlights
- 2,618 SF two‑story office condominium offered at $650,000
- Layout includes eight private offices plus a spacious conference room and reception area
- Break room, storage space, and two restrooms (one restroom includes a shower)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,817
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,340
$896.3K
Cap Rate 7%
$640,243
$640.2K
Cap Rate 9%
$497,967
$498.0K
Market Conditions
NOI Build-Up for 2,618 SF
Gross rent
$80.4K $30.72/SF
− Vacancy
−$20.7K −$7.90/SF
EGI
$59.8K $22.82/SF
− OpEx
−$14.9K −$5.71/SF
NOI
$44.8K $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%
$896,340
Cap Rate 7%
$640,243
Cap Rate 9%
$497,967
Alternative Uses
Best Use
Office B
$640.2K
$560.2K – $747.0K
NOI $44,817 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$793.0K
$693.9K – $925.2K
NOI $55,511 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,037
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
Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office units - Two-story office unit with eight private offices, conference room, reception, break room, storage, and two restrooms.
Where is this office units located?
The property is located at F-7220 N 16th Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,618 SF two‑story office condominium offered at $650,000; Layout includes eight private offices plus a spacious conference room and reception area; Break room, storage space, and two restrooms (one restroom includes a shower)
