Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1650 Roosevelt St Phoenix, AZ 85006
    Property profile & analytics

    1650 Roosevelt St Phoenix, AZ 85006

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Roosevelt 16 / Hotel & Motel / Resort
    • Watermill Express / Big Box & Wholesale Store

    Property Details for 1650 Roosevelt St

    Property type
    Office properties & Spaces

    Description

    This exceptional office property, located at the highly visible intersection of 16th Street and Roosevelt Street in Maricopa County, offers two available suites totaling between 7,720 and 8,669 square feet of traditional office space. The building is a two-story structure situated within a thriving commercial center anchored by a successful Cardenas market. This ensures high foot traffic and visibility for your business. Other prominent tenants in the center include Cricket Wireless, K-MoMo Roosevelt, Somos Dental, and Ranchie's Laundromat, creating a diverse and vibrant commercial environment. The location provides unparalleled convenience, boasting easy access to major transportation arteries such as I-10 and SR-5, facilitating seamless commutes for employees and clients. The strong demographics of the area further enhance the property's appeal, with a substantial population base: 133,611 people within a 3-mile radius and 351,037 within a 5-mile radius. This presents a significant opportunity to establish your business in a high-traffic, densely populated area with excellent accessibility. The available space is ideal for a variety of businesses seeking a prominent and well-connected location in Phoenix. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.045
    Latitude
    33.459

    Comparable in this City

    • Value Estimation by Request
      8,889 SF

      7th 7Th St

      Office properties & Spaces • 8,889 SF
      7th 7Th St, Phoenix, AZ 85006
      View Details
    • Value Estimation by Request

      555 18Th St

      Medical Office Space
      555 18Th St, Phoenix, AZ 85006
      View Details
    • Value Estimation by Request
      2.20 Acres

      2701 16th St

      CONDOMINIUM OFFICES • 2.20 Acres
      2701 16th St, Phoenix, AZ 85006-1263
      View Details
    • Value Estimation by Request
      1.13 Acres

      1601 7th St

      CONDOMINIUM OFFICES • 1.13 Acres
      1601 7th St, Phoenix, AZ 85006-2210
      View Details
    • Value Estimation
      $695,000
      5,518 SF

      1619 Mcdowell Rd

      CONDOMINIUM OFFICES • 5,518 SF
      1619 Mcdowell Rd, Phoenix, AZ 85006-3098
      View Details
    • Value Estimation by Request
      14,275 SF

      1301 Almeria Rd

      Medical Office Space • 14,275 SF
      1301 Almeria Rd, Phoenix, AZ 85006
      View Details

    Similar Nearby for Sale

    • $695,000
      2,691 SF

      Versatile Commercial Property with Yard

      Two buildings with yard space suitable for various commercial uses.
      2144 E Roosevelt St, Phoenix, AZ 85006
      View Details
    • $360,000
      1,135 SF

      Phoenix Office Unit For Sale

      Office unit available in Phoenix, Maricopa County.
      2701 N 16Th St, Phoenix, AZ 85006
      View Details
    • Contact for pricing

      Retail/Office Space with Drive-Thru Potential

      2,410 SF retail or office space with drive-thru potential.
      & Van Buren 12Th St, Phoenix, AZ 85006
      View Details
    • Contact for pricing

      Renovated Historic Phoenix Office Building

      Meticulously renovated 13,284 SF office building in a strategic Phoenix location.
      1622 North 11Th St, Phoenix, AZ 85006
      View Details
    • $1,024,650
      3,726 SF

      Functional Music Recording Studio

      Remodeled recording studio near Camelback with existing improvements.
      4727 N 12Th St, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      2,410 SF

      Phoenix Owner/User Opportunity

      2,410 SF commercial space suitable for owner/user.
      1201 E Van Buren St, Phoenix, AZ 85006
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,850 SF

      Freestanding Medical Building For Lease

      Medical office suite available in high-visibility Phoenix location.
      7137 N 7Th St, Phoenix, AZ 85006
      View Details
    • $14 SF/Yr
      42,261 SF

      Professional Office Space For Lease

      Professional office space with I-10 access and underground parking.
      1601 N 7Th St, Phoenix, AZ 85006
      View Details
    • $3,500 /Mo
      2,449 SF

      Phoenix Commercial Space for Rent

      Commercial space available for rent in Maricopa County, Phoenix.
      1444 N 16Th St, Phoenix, AZ 85006
      View Details
    • Contact for pricing

      McDowell Medical Center Office Space

      Medical office space near Banner University Medical Center.
      1010 E Mcdowell Rd, Phoenix, AZ 85006
      View Details
    • Contact for pricing
      2,476 SF

      Turn Key Office Space

      Office space with frontage on McDowell Road near freeways.
      1633-1635 E Mcdowell Rd, Phoenix, AZ 85006
      View Details
    • $25 SF/Yr
      13,244 SF

      Four-Story Office Building with Parking

      79,247 SF office building with parking garage and I-10 visibility.
      1331 N 7Th St, Phoenix, AZ 85006
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1650 Roosevelt St
    Phoenix, AZ 85006
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1650 Roosevelt St, Phoenix, AZ, 85006
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!