702 E Osborn Rd
Phoenix, AZ 85014
Office Property For Sale

LevRose Commercial Real Estate is pleased to present the opportunity to acquire 702 E. Osborn Road, a ±35,346 square foot, two-story office
building located in the highly desirable Midtown Phoenix submarket. Situated directly across from Phoenix Country Club and prominently
positioned along 7th Street, the property benefits from exceptional visibility, monument signage, and strong traffic counts.
702 E. Osborn Road presents a compelling opportunity for an owner-user seeking both control of occupancy costs and meaningful in-place
income, or the rare chance for an investor to acquire a well-located, institutional-quality Midtown Phoenix office asset at a competitive basis
relative to comparable sales and current market cap rates.
Offered at $6,980,000, the ±35,346 SF two-story office building is currently 83% occupied generating $490,438 in annual Net Operating Income,
providing immediate cash flow to help offset debt service and operating expenses. The property is anchored by CEA, Inc., occupying the entire
2nd floor (20,206 SF through July 2032), delivering long-term income stability and reducing rollover risk. With ±5,864 SF currently vacant, and
near-term opportunity to occupy approximately +/-9,000 SF, an owner-user can immediately occupy space while maintaining strong rental income
from the remaining tenants. Over time, future lease expirations create additional opportunities to expand occupancy organically as business
needs grow. Rather than leasing 5,000–10,000 SF in Midtown Phoenix and building equity for a landlord, an owner-user can secure a prominent
Midtown Phoenix address with monument signage and structured parking, stabilize their long-term occupancy costs, and benefit from appreciation
and rental growth in one of the city’s most established office corridors. Ownership at this basis can often produce a similar or lower effective
occupancy cost — while building equity instead of paying rent.
For an investor, the combination of stable long-term tenancy, immediate lease-up potential, and mark-to-market rent growth provides both secure
income and future appreciation. This offering is ideal for private investors seeking durable cash flow in a core infill location, 1031 exchange buyers
targeting stable returns, or office owner-users seeking future occupancy flexibility.