Gilbert Warehouse with Updated
For Sale
Contact for pricing
1324 N Farrell Ct, Gilbert, AZ
Warehouse space with roll-up door and updated office.
Property Size2,650 SF
Lot Size0.86 Acres
Price / SF$286.42
Days on Market553
Property Features for 1324 N Farrell Ct
General Information
Standard status
Active
Size
2,650 SF
Lot size
0.86 Acres
Property subtype
INDUSTRIAL
Listing Agency:
OX Urban Properties
(602) 524-6000
Listed By:
TJ Claassen
(602) 524-6000
Source:
Moodyscre
Added: Feb 4, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:33PM
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 OX Urban Properties
Investment Insights
Based on property information with market context.
This property in Gilbert, Arizona, offers 2,650 square feet of warehouse space. Located near Baseline and Cooper, the property features a roll-up door and an updated office area. The layout provides flexible options with approximately 30% of the space designated for office use and 70% for warehouse operations. This property is for sale.
Key Highlights
- Flexible space: 30% office / 70% warehouse.
- Updated office space.
- Features a roll up door.
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
$23,282
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
3.07%
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%
$465,640
$465.6K
Cap Rate 7%
$332,600
$332.6K
Cap Rate 9%
$258,689
$258.7K
Market Conditions
NOI Build-Up for 2,650 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
$36.6K $13.80/SF
− Vacancy
−$9.2K −$3.46/SF
EGI
$27.4K $10.34/SF
− OpEx
−$4.1K −$1.55/SF
NOI
$23.3K $8.79/SF
Area
Gilbert, AZ
Vacancy
25.10%
Lease Rate
$13.80 /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%
$465,640
Cap Rate 7%
$332,600
Cap Rate 9%
$258,689
Alternative Uses
Best Use
Warehouse
$332.6K
$291.0K – $388.0K
NOI $23,282 @ 7.0% cap · market cap 3.07%
Second Best
Industrial
$273.9K
$239.7K – $319.6K
NOI $19,174 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$695.8K
$608.8K – $811.7K
NOI $48,703 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,622
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
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?
Warehouse - Warehouse space with roll-up door and updated office.
Where is this warehouse located?
The property is located at 1324 N Farrell Ct Gilbert, AZ.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: Flexible space: 30% office / 70% warehouse.; Updated office space.; Features a roll up door.
