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    11209-11211 Tatum Blvd Phoenix, AZ 85028
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    11209-11211 Tatum Blvd Phoenix, AZ 85028

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    • Office properties & Spaces
    • 97,289 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 11209-11211 Tatum Blvd

    Year built
    1987
    Property size
    97,289 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    Tatum Ridge, a premier two-building medical office complex in Phoenix's prestigious Paradise Valley submarket, offers exceptional opportunities for businesses seeking high-quality space. This 97,289 square foot property, built in 1987 and renovated in 2020, boasts seven suites across two stories, with a minimum divisible space of 754 square feet and a maximum contiguous space of 8,769 square feet. Currently, 28,411 square feet are vacant, presenting a unique chance to secure move-in ready space. One immediately available sublease opportunity includes approximately 6,793 square feet in Suite A130, featuring stunning golf course views and a full-service rate of $21 per square foot. This sublease extends until July 31, 2027, with a 30-day notice requirement. The property enjoys a highly desirable location at 11211 N. Tatum Boulevard, offering convenient access to major freeways (SR 51 and Loop 101), and is situated near high-traffic intersections, ensuring excellent visibility and accessibility. Amenities include monument and golf course signage opportunities, dedicated exterior entrances, underground and surface parking, on-site management, and prestigious certifications such as Energy Star, BOMA 360, and LEED. The surrounding area offers a vibrant mix of shopping, dining, and residential options, and is proximate to Abrazo Scottsdale Campus & Scottsdale Memorial Hospital. This is an unparalleled opportunity to establish a presence in a thriving, affluent community.

    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
    -111.977
    Latitude
    33.588

    Comparable in this City

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      $680,000
      2,262 SF

      10010 29th St

      MEDICAL BUILDING • 2,262 SF
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    • Value Estimation
      $1,060,000
      6,935 SF

      4611 Shea Blvd Ste, Unit 160

      MEDICAL BUILDING • 6,935 SF
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    • Value Estimation
      $4,145,000
      10,608 SF

      3202 Mtn Vw Rd

      MEDICAL BUILDING • 10,608 SF
      3202 Mtn Vw Rd, Phoenix, AZ 85028-3901
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    • Value Estimation
      $3,330,000
      10,344 SF

      10255 32nd St

      MEDICAL BUILDING • 10,344 SF
      10255 32nd St, Phoenix, AZ 85028-3822
      View Details
    • Value Estimation by Request
      0.51 Acres

      11250 Tatum Blvd

      CONDOMINIUM OFFICES • 0.51 Acres
      11250 Tatum Blvd, Phoenix, AZ 85028-2306
      View Details
    • Value Estimation by Request
      2.02 Acres

      4611 Shea Blvd

      CONDOMINIUM OFFICES • 2.02 Acres
      4611 Shea Blvd, Phoenix, AZ 85028-4254
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      38,000 SF

      Phoenix Retail/Medical/Fitness Sublease Opportunity

      Sublease opportunity suitable for retail, medical, or fitness businesses.
      11630 N Tatum Blvd, Phoenix, AZ 85028
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      Phoenix Office Space For Rent

      Centrally located office space with easy freeway and downtown access.
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      Office Space Available For Lease

      Office space for lease at 11201 North Tatum Boulevard.
      11201 North Tatum Blvd, Phoenix, AZ 85028
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      Class A Office Building ForRent

      Three-story Class A office building with panoramic views.
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      Phoenix Office Space in Paradise Valley

      Modern office spaces with convenient access to amenities and transportation.
      11811 N Tatum Blvd, Phoenix, AZ 85028
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    • Contact for pricing

      Paradise Valley

      Discover many ways to work your way in Paradise Valley
      11811 Tatum Blvd, Phoenix, AZ 85028
      View Details
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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.

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