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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16241 Tatum Blvd Phoenix, AZ 85032-3441

    • Office buildings
    • 30,621 SF
    • 2.59 lot acres
    OFF-MARKET
    Value Estimations
    $13,695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0835108
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ivybrook Academy Paradise Valley / Montessori School
    • Social Security Administration / Social Security Office / Government Office

    Property Details for 16241 Tatum Blvd

    Year built
    2001
    Construction
    CONCRETE
    Lot size
    2.59 lot acres
    Property size
    30,621 SF
    Zone code
    R-O
    Property type
    Office buildings
    APN
    215-32-003U
    APU
    21532003U

    Description

    This exceptional 7,015-square-foot creative office space is ideally located at 16241 N Tatum Blvd in Phoenix, Arizona. The single-tenant property, built in 2001, is a Class B building and offers a convenient one-story layout. The entire space is currently vacant, presenting a unique opportunity for a business seeking immediate occupancy. The property features ample parking with a ratio of 5 spaces per 1,000 square feet. Its prime location offers easy access to major transportation arteries, including proximity to the SR-51 freeway (3 minutes away) and Loop 101 (7 minutes away). The surrounding area boasts a variety of retail options and amenities, enhancing the convenience and appeal of this location. The property's APN is 215-32-003U, situated within Maricopa County, Arizona, and has a zip code of 85032. This single-tenant creative office space provides a versatile and functional environment for a wide range of businesses. The property's size and location make it an attractive option for companies seeking a prominent presence in a thriving Phoenix neighborhood. The convenient access to freeways and nearby amenities makes this a highly desirable location for employees and clients alike. This is a rare opportunity to secure a substantial, ready-to-occupy office space in a prime Phoenix location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,697,000
      Market price range: $5.15M - $13.7M
      AI Estimate
      $13,697,000
      Market price range: $5.15M - $13.7M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,260,000
      Current use
      COMMERCIAL (GENERAL)
      $21,325,000
      Change: +130% Conversion: Easy
      RESTAURANT
      $16,350,000
      Change: +77% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $12,940,000
      Change: +40% Conversion: Difficult
      RETAIL STORES
      $8,595,000
      Change: -7% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.977
    Latitude
    33.635
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $69,845
    $0.00
    $0.00
    $1,056,980
    -
    $2,046,100
    $4,359,840
    $6,405,940

    Comparable in this City

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      $3,240,000
      7,242 SF

      16042 32nd St

      OFFICE BUILDING • 7,242 SF
      16042 32nd St, Phoenix, AZ 85032-3806
      View Details
    • Value Estimation
      $1,555,000
      5,993 SF

      4550 Bell Rd Ste, Unit 166

      OFFICE BUILDING • 5,993 SF
      4550 Bell Rd Ste, Phoenix, AZ 85032-9382
      View Details
    • Value Estimation
      $1,120,000
      5,825 SF

      15255 40th St Ste, Unit 117

      OFFICE BUILDING • 5,825 SF
      15255 40th St Ste, Phoenix, AZ 85032-4638
      View Details
    • Value Estimation
      $1,035,000
      5,825 SF

      15255 40th St Ste, Unit 121

      OFFICE BUILDING • 5,825 SF
      15255 40th St Ste, Phoenix, AZ 85032-4638
      View Details
    • Value Estimation
      $1,170,000
      6,098 SF

      15255 40th St, Unit 163

      OFFICE BUILDING • 6,098 SF
      15255 40th St, Phoenix, AZ 85032-4624
      View Details
    • Value Estimation
      $1,120,000
      5,825 SF

      15255 40th St, Unit 535

      OFFICE BUILDING • 5,825 SF
      15255 40th St, Phoenix, AZ 85032-4624
      View Details

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    Similar Nearby for Lease

    • $22 SF/Yr
      22,800 SF

      Tatum Blvd Executive Suites

      Phoenix Office Space: 863-1730 sq ft.
      16421 Tatum Blvd, Phoenix, AZ 85032
      View Details
    • $14 SF/Yr
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      Phoenix Office Space For Rent

      Office space available near Abrazo Scottsdale Campus and Mayo Clinic.
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      View Details
    • Contact for pricing
      900 SF

      Office Space Available For Rent

      900 SF office space available with high traffic volume.
      3624 E Bell Rd, Phoenix, AZ 85032
      View Details
    • $22 SF/Yr
      23,089 SF

      Professional Office Space For Lease

      Office space available near Desert Ridge and Paradise Valley Hospital.
      16421 N Tatum Blvd, Phoenix, AZ 85032
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    • Contact for pricing
      122,063 SF

      Scottsdale Medical Office Plaza

      Class A Medical Office Building, Phoenix
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      Prime Phoenix Executive Suites

      Prestigious North Phoenix Offices, 28 Spaces Available
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    16241 Tatum Blvd
    Phoenix, AZ 85032-3441
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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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