New Industrial
For Sale
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11224 E Pecos Rd, Mesa, AZ 85212
Modern warehouse facility with flexible interior planning for industrial, storage, and distribution operations.
Property Size23,854 SF
Price / SF$365
Days on Market128
Property Features for 11224 E Pecos Rd
General Information
Standard status
Active
Size
23,854 SF
Class
A
Property subtype
Industrial
Zoning
Light Industrial
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
2025
Listing Agency:
Commercial Properties Inc Tempe
(480) 214-1105
Listed By:
Leroy Breinholt Team · License #AZ BR008760000
Source:
Crexi
Added: Apr 25
Changed: Aug 29
Last Checked: Aug 29 at 5:44PM
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 Commercial Properties Inc Tempe
Investment Insights
Based on property information with market context.
Completed in 2025, this 23,854-square-foot warehouse property features modern construction and an adaptable interior designed for industrial, warehouse, and distribution functions. The facility is zoned Light Industrial and offers a configuration intended to support varied operational requirements.
The property is located at 11224 E Pecos Rd in Mesa, Arizona, with access to interstates and major transportation routes. Phoenix-Mesa Gateway Airport and Union Pacific Railroad are also identified as nearby logistics resources, supporting regional movement of goods and supply chain activity.
The property is located at 11224 E Pecos Rd in Mesa, Arizona, with access to interstates and major transportation routes. Phoenix-Mesa Gateway Airport and Union Pacific Railroad are also identified as nearby logistics resources, supporting regional movement of goods and supply chain activity.
Key Highlights
- 23,854‑square‑foot industrial warehouse completed in 2025
- Light Industrial zoning
- Flexible interior layout for industrial, warehouse, and distribution operations
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
$289,537
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
3.33%
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%
$5,790,740
$5.8M
Cap Rate 7%
$4,136,243
$4.1M
Cap Rate 9%
$3,217,078
$3.2M
Market Conditions
NOI Build-Up for 23,854 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
$363.5K $15.24/SF
− Vacancy
−$22.9K −$0.96/SF
EGI
$340.6K $14.28/SF
− OpEx
−$51.1K −$2.14/SF
NOI
$289.5K $12.14/SF
Area
ZIP 85212
Vacancy
6.30%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
15.00%
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%
$5,790,740
Cap Rate 7%
$4,136,243
Cap Rate 9%
$3,217,078
Alternative Uses
Best Use
Warehouse
$4.14M
$3.62M – $4.83M
NOI $289,537 @ 7.0% cap · market cap 3.33%
Second Best
Industrial
$3.41M
$2.98M – $3.97M
NOI $238,443 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$7.47M
$6.53M – $8.71M
NOI $522,574 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85212, AZ
48,422
Population
16,576
Households
2.9
Avg Household Size
34
Median Age
42%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
1,254
Density / Sq Mi
$123,404
Median Household Income
$56,974
Median Earnings
$2,024
Median Rent
$530,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Modern warehouse facility with flexible interior planning for industrial, storage, and distribution operations.
Where is this warehouse located?
The property is located at 11224 E Pecos Rd Mesa, AZ.
What is the asking price?
The asking price for this property is $8,706,710.
What are key features of this property?
This property features: 23,854‑square‑foot industrial warehouse completed in 2025; Light Industrial zoning; Flexible interior layout for industrial, warehouse, and distribution operations
