Versatile Glendale Property with Expansion
For Sale
Contact for pricing
10922 W Glenn Dr, Glendale, AZ 85307
Mixed-use property with office, warehouse, and significant excess land.
Property Size13,306 SF
Lot Size3.35 Acres
Price / SF$285.21
Days on Market175
Property Features for 10922 W Glenn Dr
General Information
Standard status
Active
Size
13,306 SF
Class
A
Lot size
3.35 Acres
Property subtype
Office, Industrial, Land
Zoning
M-1
Building Details
Year Built
2005
Listing Agency:
Basis Commercial
Listed By:
Nick DePaul · License #BR692351000
Source:
Crexi
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 11 at 5:36PM
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 Basis Commercial
Investment Insights
Based on property information with market context.
This property, located in the West Valley industrial corridor, presents a rare opportunity for owner-users or investors. It features a ±10,842 SF office building containing multiple private offices, conference rooms, two restrooms, and a break room, suitable for administrative or headquarters operations. In addition to the office space, there is a ±2,464 SF freestanding warehouse with an 18-foot clear height, an oversized grade-level door, and mezzanine storage, making it ideal for light industrial, storage, or operational purposes. A key feature of this offering is the ±1.16 acres of excess land, which provides immediate potential for expanded outdoor storage yard space or future warehouse development. The property is zoned M-1 (City of Glendale), supporting a wide range of industrial and commercial uses. The substantial land component makes it particularly attractive for contractors, fleet-based businesses, owner-users seeking yard space, or investors targeting future expansion upside. The property is situated on ±3.35 acres.
Key Highlights
- ±1.16 acres of excess land offers immediate potential for expanded outdoor storage or future warehouse development.
- ±13,306 SF property ideal for owner‑user or investment in the West Valley industrial corridor.
- ±10,842 SF office building includes multiple private offices, conference rooms, two restrooms, and a break room.**
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
$204,181
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
5.38%
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%
$4,083,620
$4.1M
Cap Rate 7%
$2,916,871
$2.9M
Cap Rate 9%
$2,268,678
$2.3M
Market Conditions
NOI Build-Up for 13,306 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
$351.3K $26.40/SF
− Vacancy
−$79.0K −$5.94/SF
EGI
$272.2K $20.46/SF
− OpEx
−$68.1K −$5.12/SF
NOI
$204.2K $15.35/SF
Area
Glendale, AZ
Vacancy
22.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$4,083,620
Cap Rate 7%
$2,916,871
Cap Rate 9%
$2,268,678
Alternative Uses
Best Use
Office B
$2.92M
$2.55M – $3.40M
NOI $204,181 @ 7.0% cap · market cap 5.38%
Second Best
Mixed Use
$2.57M
$2.25M – $2.99M
NOI $179,631 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$4.18M
$3.66M – $4.88M
NOI $292,570 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 85307, AZ
10,742
Population
4,957
Households
2.2
Avg Household Size
31
Median Age
26%
College-Educated
89%
High-School Grad
10.4 sq mi
ZIP Area
1,033
Density / Sq Mi
$78,540
Median Household Income
$42,359
Median Earnings
$1,745
Median Rent
$368,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with office, warehouse, and significant excess land.
Where is this mixed-use property located?
The property is located at 10922 W Glenn Dr Glendale, AZ.
What is the asking price?
The asking price for this property is $3,795,000.
What are key features of this property?
This property features: ±1.16 acres of excess land offers immediate potential for expanded outdoor storage or future warehouse development.; ±13,306 SF property ideal for owner‑user or investment in the West Valley industrial corridor.; ±10,842 SF office building includes multiple private offices, conference rooms, two restrooms, and a break room.**
