Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    16515 40th St, Unit 110 Phoenix, AZ 85048-0558

    Property Lookup

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

    16515 40th St, Unit 110 Phoenix, AZ 85048-0558

    View on Map
    • Office buildings
    • 8,080 SF
    • 0.05 lot acres
    Off-Market
    Property ID
    US07-1537304
    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.
    Value Estimations
    $2,145,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Spine Institute of Arizona / Physician
    • Desert Shores Dentistry / Dental Office
    • Webster Shari R DC / Alternative Medicine Practice
    • Mark S. Williams / Law Firm
    • Cales Gloria L / Law Firm

    Property Details for 16515 40th St

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    0.05 lot acres
    Property size
    8,080 SF
    Zone code
    C-O
    Property type
    Office buildings
    APN
    301-85-229
    APU
    30185229

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,145,000
      Market price range: $378k - $2.15M
      AI Estimate
      $2,145,000
      Market price range: $378k - $2.15M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,465,000
      Current use
      AUTO REPAIR, GARAGE
      $3,415,000
      Change: +133% Conversion: Difficult
      RETAIL STORES
      $2,410,000
      Change: +64% Conversion: Moderate
      MEDICAL BUILDING
      $2,145,000
      Change: +46% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,095,000
      Change: +43% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,055,000
      Change: +40% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.996
    Latitude
    33.2972
    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
    2023
    $5,006
    $0.00
    $0.00
    $88,688
    -
    $107,500
    $430,000
    $537,500

    Comparable in this City

    • Value Estimation
      $1,815,000
      8,607 SF

      16725 Desert Foothills Pkwy Ste, Unit 106

      OFFICE BUILDING • 8,607 SF
      16725 Desert Foothills Pkwy Ste, Phoenix, AZ 85048-8469
      View Details
    • Value Estimation
      $980,000
      9,312 SF

      16815 Desert Foothills Pkwya11

      OFFICE BUILDING • 9,312 SF
      16815 Desert Foothills Pkwya11, Phoenix, AZ 85048-8401
      View Details
    • Value Estimation
      $1,180,000
      8,704 SF

      16815 Desert Foothills Pkwyb8

      OFFICE BUILDING • 8,704 SF
      16815 Desert Foothills Pkwyb8, Phoenix, AZ 85048-8401
      View Details
    • Value Estimation
      $1,180,000
      8,704 SF

      16815 Desert Foothills Pkwyb6

      OFFICE BUILDING • 8,704 SF
      16815 Desert Foothills Pkwyb6, Phoenix, AZ 85048-8401
      View Details
    • Value Estimation
      $1,180,000
      8,704 SF

      16815 Desert Foothills Pkwyb10

      OFFICE BUILDING • 8,704 SF
      16815 Desert Foothills Pkwyb10, Phoenix, AZ 85048-8401
      View Details
    • Value Estimation
      $980,000
      9,312 SF

      16815 Desert Foothills Pkwya15

      OFFICE BUILDING • 9,312 SF
      16815 Desert Foothills Pkwya15, Phoenix, AZ 85048-8401
      View Details

    Similar Nearby for Sale

    • $645,000
      2,516 SF

      Phoenix Office Space For Sale

      Office space featuring reception, offices, conference rooms, and break room.
      16515 S 40Th St, Phoenix, AZ 85048
      View Details
    • $413,616
      1,289 SF

      Phoenix Office Condo with Patio

      Professional office condo with modern amenities, versatile layout, and easy access.
      1345 E Chandler Blvd, Phoenix, AZ 85048
      View Details
    • Contact for pricing
      5,172 SF

      Retail Ground Lease For Sale

      15-year ground lease available in Phoenix, Arizona.
      3956 E Chandler Blvd, Phoenix, AZ 85048
      View Details
    • $1,874,070

      Freestanding Industrial Building For Sale

      Freestanding industrial building with showroom and covered parking.
      3838 E Grove St, Phoenix, AZ 85048
      View Details
    • Contact for pricing
      Pending

      Upgraded Condo with Mountain Views

      Impeccably upgraded condo with mountain views and resort-style amenities.
      3236 E Chandler Blvd, Phoenix, AZ 85048
      View Details
    • Contact for pricing
      2,002 SF

      Phoenix Auto and Pet Wash

      State-of-the-art car and pet wash in Phoenix metro.
      15625 S 32Nd St, Phoenix, AZ 85048
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Building For Rent

      Three-story medical office building available for rent.
      4545 E Chandler Blvd, Phoenix, AZ 85048
      View Details
    • $21 SF/Yr
      31,936 SF

      South Tempe Office Space Available

      Professional office space for lease in South Tempe Ahwatukee.
      4435 E Chandler Blvd, Phoenix, AZ 85048
      View Details
    • $3,397 /Mo
      14,610 SF

      Renovated Office/Medical Space For Lease

      Newly renovated office/medical space near light rail station in Midtown Phoenix.
      45 E Monterey Way, Phoenix, AZ 85048
      View Details
    • $16 SF/Yr

      Office Space Available For Rent

      Office space available at Desert Hills Foothills Pkwy.
      16815 S Desert Foothills Pkwy, Phoenix, AZ 85048
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Professional office space available for lease.
      4435 E Chandler Blvd, Phoenix, AZ 85048
      View Details
    • Contact for pricing

      Move-in Ready Office Condo

      Recently renovated 832 SF office condo in Ahwatukee.
      15845 S 46Th St, Phoenix, AZ 85048
      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.
    16515 40th St, Unit 110
    Phoenix, AZ 85048-0558
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!