Remodeled Office Condominium
For Sale
$685,000
G-7220 N 16th St, Phoenix, AZ 85034
Completely remodeled office suite with seven private offices, reception area, conference room, and break room.
Property Size2,238 SF
Price / SF$306.08
Days on Market141
Property Features for G-7220 N 16th St
General Information
Standard status
Active
Size
2,238 SF
Total Parking Spaces
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,715
Listing Agency:
Platinum Realty Network
Listed By:
Pete Baldwin · License #BR537748000
(480) 326-6521
Source:
Exprealty
Added: May 30
Changed: Oct 9
Last Checked: Oct 16 at 12:20PM
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 Platinum Realty Network
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This completely remodeled office condominium is move-in ready and designed with a functional, professional layout. The suite includes seven private offices, a welcoming reception area with waiting space, a spacious conference room, and a fully equipped break room/kitchenette. Updated finishes throughout feature modern lighting, flooring, and fixtures.
The building offers two first-level parking garage spaces and a two-story parking structure with covered parking on the top deck, along with plenty of additional lot parking. The property is adjacent to a canal with immediate access to the walking/jogging path.
The suite is suited for owner-users and also offers an office configuration that can support a range of professional needs.
The building offers two first-level parking garage spaces and a two-story parking structure with covered parking on the top deck, along with plenty of additional lot parking. The property is adjacent to a canal with immediate access to the walking/jogging path.
The suite is suited for owner-users and also offers an office configuration that can support a range of professional needs.
Key Highlights
- Completely remodeled office condominium/suite with 7 private offices, reception area with waiting space, and a spacious conference room
- Fully equipped break room/kitchenette plus updated finishes throughout, including modern lighting, flooring, and fixtures
- Efficient, professional floor plan designed for both private workspaces and collaborative areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,312
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,240
$766.2K
Cap Rate 7%
$547,314
$547.3K
Cap Rate 9%
$425,689
$425.7K
Market Conditions
NOI Build-Up for 2,238 SF
Gross rent
$68.8K $30.72/SF
− Vacancy
−$17.7K −$7.90/SF
EGI
$51.1K $22.82/SF
− OpEx
−$12.8K −$5.71/SF
NOI
$38.3K $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%
$766,240
Cap Rate 7%
$547,314
Cap Rate 9%
$425,689
Alternative Uses
Best Use
Office B
$547.3K
$478.9K – $638.5K
NOI $38,312 @ 7.0% cap · market cap 5.59%
Second Best
Healthcare Medical
$455.8K
$398.8K – $531.8K
NOI $31,905 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$677.9K
$593.2K – $790.9K
NOI $47,454 @ 7.0% cap · market cap 6.93%
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 85034, AZ
5,033
Population
2,901
Households
1.7
Avg Household Size
32
Median Age
32%
College-Educated
81%
High-School Grad
11.6 sq mi
ZIP Area
434
Density / Sq Mi
$53,545
Median Household Income
$43,236
Median Earnings
$1,205
Median Rent
$397,400
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Office units - Completely remodeled office suite with seven private offices, reception area, conference room, and break room.
Where is this office units located?
The property is located at G-7220 N 16th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Completely remodeled office condominium/suite with 7 private offices, reception area with waiting space, and a spacious conference room; Fully equipped break room/kitchenette plus updated finishes throughout, including modern lighting, flooring, and fixtures; Efficient, professional floor plan designed for both private workspaces and collaborative areas
