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Property profile & analytics
OFF-MARKET
Office buildings

342 Thomas Rd Phoenix, AZ 85012-3202

1,615 SF 0.17 ac lot Built 1965
Entity Owned 5-yr Hold Free & Clear
Property ID
US07-3366642
Property summary
AI-generated overview

This exceptional 1,667 square foot single-tenant office building is ideally situated in Phoenix's Midtown submarket, at 342 E Thomas Road, near the intersection of 7th Street and Thomas Road. Built in 1965 and extensively renovated in 2023, this Class B property offers a unique blend of traditional and creative office space, perfect for a variety of businesses. The building features an open wood truss ceiling, a dedicated break area, and a restroom. Abundant natural light floods the space, creating a bright and inviting atmosphere. The property is highly customizable, allowing tenants to tailor the space to their specific needs. Convenient pull-up parking is readily available, and prominent building signage on Thomas Road ensures excellent visibility. The zoning is R-5,CO. The building boasts approximately 2.4 parking spaces per 1,000 square feet. A new restaurant is slated to open on-site soon, adding further convenience and amenity value. This one-story building presents a fantastic opportunity for businesses seeking a modern, well-located office space in a thriving Phoenix neighborhood. The entire 1,667 square feet is currently vacant and ready for immediate occupancy.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1965
Construction CONCRETE
Total area 1,615 SF
Lot 0.17 ac (7,313 SF)
Zoning code R-5
APN 118-21-069
UPID US07-3366642
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • The Cultural Cup Food Bank Food Bank Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Suncor Partners Thomas Office LLC · 5 yrs held
Suncor Partners Thomas Office LLC
since 2021
7 recorded transactions
2021
Price N/A
2021
$1.1M
2011
Price N/A
2011
Price N/A
2007
Price N/A
2005
$700,000
1969
Price N/A
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The purpose of R-5 is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes

Zone name Multifamily Residence Restricted Commercial
General category COMMERCIAL
Zone area 4,750.37 ac
Source Realmo
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