Two-Suite Flex Industrial
120-650 N 137th Avenue, Goodyear, AZ 85338
For Sale
$1,899,000
Two-suite flex building built in 2008 with PAD zoning, supporting office, industrial, and manufacturing uses.
Property Size19,680 SF
Price / SF$96.49
Days on Market167
Property Features for 120-650 N 137th Avenue
General Information
Standard status
Size
Zoning
Additional Details
Office Units
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
City to City Commercial
(480) 355-2222
Listed By:
Chris Benjamin · License AZ BR034762000
(602) 920-1700
Source:
Exprealty
Added: May 28
Changed: Oct 26
Last Checked: Nov 10 at 1:49PM
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 City to City Commercial
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Investment Insights
Based on property information with market context.
This for-sale flex/industrial property is built to serve both office and production needs, with a layout configured as two separate suites. Constructed in 2008, the building is offered in an owner-user format and is set up for adaptable business operations within an office/industrial/manufacturing framework. The property is zoned PAD, providing flexibility for tailored tenant and operating requirements.
Located at 120–650 N 137th Avenue in Goodyear, Arizona, the building’s location supports a wide range of light industrial and business uses. The site configuration is positioned for practical day-to-day operations where an organization may need both workspace and functional industrial space under one roof.
For tenants, buyers, or operators seeking a combined office and industrial environment, the two-suite design can support an owner-occupied strategy, along with space separation options for different functions or teams. The PAD zoning designation further reinforces the property’s intended versatility for office/industrial and manufacturing endeavors. Built in the late 2000s and presented as a multi-suite asset, it offers a straightforward platform for businesses looking for a purpose-built facility with the zoning flexibility to align with their operating model.
Located at 120–650 N 137th Avenue in Goodyear, Arizona, the building’s location supports a wide range of light industrial and business uses. The site configuration is positioned for practical day-to-day operations where an organization may need both workspace and functional industrial space under one roof.
For tenants, buyers, or operators seeking a combined office and industrial environment, the two-suite design can support an owner-occupied strategy, along with space separation options for different functions or teams. The PAD zoning designation further reinforces the property’s intended versatility for office/industrial and manufacturing endeavors. Built in the late 2000s and presented as a multi-suite asset, it offers a straightforward platform for businesses looking for a purpose-built facility with the zoning flexibility to align with their operating model.
Key Highlights
- Two‑suite flex building totaling 5,625 SF, built in 2008
- PAD zoning supports office/industrial and manufacturing uses
- Ideal for owner‑user needs with two separate suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,611
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,492,220
$3.5M
Cap Rate 7%
$2,494,443
$2.5M
Cap Rate 9%
$1,940,122
$1.9M
Market Conditions
NOI Build-Up for 19,680 SF
Gross rent
$307.0K $15.60/SF
− Vacancy
−$38.4K −$1.95/SF
EGI
$268.6K $13.65/SF
− OpEx
−$94.0K −$4.78/SF
NOI
$174.6K $8.87/SF
Area
Goodyear, AZ
Vacancy
12.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,492,220
Cap Rate 7%
$2,494,443
Cap Rate 9%
$1,940,122
Alternative Uses
Best Use
Office B
$4.09M
$3.58M – $4.77M
NOI $286,403 @ 7.0% cap · market cap 15.08%
Second Best
Flex RnD
$2.49M
$2.18M – $2.91M
NOI $174,611 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$5.81M
$5.08M – $6.77M
NOI $406,497 @ 7.0% cap · market cap 21.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85338, AZ
59,313
Population
23,748
Households
2.5
Avg Household Size
36
Median Age
32%
College-Educated
93%
High-School Grad
76.0 sq mi
ZIP Area
780
Density / Sq Mi
$99,345
Median Household Income
$49,057
Median Earnings
$1,822
Median Rent
$396,100
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Maricopa County, AZ
Properties on Market for Flex space in Maricopa County
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Goose's Grub — 424 N Litchfield Rd, Goodyear, AZ 85338
Frequently Asked Questions
What type of property is this?
Flex space - Two-suite flex building built in 2008 with PAD zoning, supporting office, industrial, and manufacturing uses.
Where is this flex space located?
The property is located at 120-650 N 137th Avenue Goodyear, AZ.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Two‑suite flex building totaling 5,625 SF, built in 2008; PAD zoning supports office/industrial and manufacturing uses; Ideal for owner‑user needs with two separate suites
