Flex Space with Covered Work
New
For Sale
$585,000
1009 W Buckeye Rd, Phoenix, AZ 85007
Industrial property combines enclosed workshop space with office and business-support areas.
Property Size2,830 SF
Price / SF$206.71
Days on Market6
Property Features for 1009 W Buckeye Rd
General Information
Standard status
Active
Size
2,830 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Amenities
kitchen
bathroom
multiple roll-up doors
high ceilings
concrete floors
extensive shelving
covered work areas
Building Details
Year Built
2022
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Alexander Rodenburg · License #SA679002000
Source:
Eastvalleyazhomesforsale
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 5:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of My Home Group Real Estate
Investment Insights
Based on property information with market context.
Built in 2022, this flex property centers on an enclosed workshop configured for storage, equipment, vehicles, and day-to-day business operations. The building offers multiple roll-up doors, high ceilings, concrete flooring, extensive shelving, and substantial workspace. Interior support areas include a kitchen, bathroom, and additional rooms suitable for office, storage, or other business functions.
Covered exterior work areas add room for loading, fabrication, and equipment storage, while on-site parking accommodates vehicles and trailers. The property is positioned along W Buckeye Road in Phoenix, providing a functional setting for an operation that requires enclosed workspace, support rooms, and covered outdoor areas.
Covered exterior work areas add room for loading, fabrication, and equipment storage, while on-site parking accommodates vehicles and trailers. The property is positioned along W Buckeye Road in Phoenix, providing a functional setting for an operation that requires enclosed workspace, support rooms, and covered outdoor areas.
Key Highlights
- 2022‑built flex property with an enclosed industrial workshop
- Multiple roll‑up doors, high ceilings, concrete floors, and extensive shelving
- Kitchen, bathroom, and additional interior rooms for office or storage use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,080
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,600
$621.6K
Cap Rate 7%
$444,000
$444.0K
Cap Rate 9%
$345,333
$345.3K
Market Conditions
NOI Build-Up for 2,830 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.3K $19.20/SF
− Vacancy
−$6.5K −$2.30/SF
EGI
$47.8K $16.90/SF
− OpEx
−$16.7K −$5.91/SF
NOI
$31.1K $10.98/SF
Area
Phoenix, AZ
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,600
Cap Rate 7%
$444,000
Cap Rate 9%
$345,333
Alternative Uses
Best Use
Flex RnD
$444.0K
$388.5K – $518.0K
NOI $31,080 @ 7.0% cap · market cap 5.31%
Second Best
Warehouse
$308.8K
$270.2K – $360.3K
NOI $21,616 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$857.2K
$750.1K – $1.00M
NOI $60,006 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85007, AZ
14,442
Population
5,981
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
3,140
Density / Sq Mi
$55,833
Median Household Income
$43,375
Median Earnings
$1,079
Median Rent
$447,000
Median Home Value
Market
Vacancy Rate% for Industrial in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial property combines enclosed workshop space with office and business-support areas.
Where is this flex space located?
The property is located at 1009 W Buckeye Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2022‑built flex property with an enclosed industrial workshop; Multiple roll‑up doors, high ceilings, concrete floors, and extensive shelving; Kitchen, bathroom, and additional interior rooms for office or storage use
