Industrial Shop Building with
For Sale
Contact for pricing
1210 West Watkins Street, Phoenix, AZ 85007
Warehouse shop building with three grade-level doors, 17' clear height, and a detached office for efficient operations.
Property Size10,810 SF
Price / SF$231.27
Days on Market102
Property Features for 1210 West Watkins Street
General Information
Standard status
Active
Size
10,810 SF
Property subtype
Industrial
Zoning
A-2
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
17 ft
Drive-In Doors
3
Building Details
Year Built
1952
Buildings
2
Stories
1
Units
2
Listing Agency:
Rein & Grossoehme Commercial Real Estate
Listed By:
Max Schumacher, SIOR · License #SA678600000
Source:
Crexi
Added: Jun 2
Changed: Aug 19
Last Checked: Sep 11 at 6:31AM
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 Rein & Grossoehme Commercial Real Estate
Investment Insights
Based on property information with market context.
This sale offering includes an 8,235 SF shop building with three (3) grade level doors: two (2) doors measuring 12' x 10' and one (1) door measuring 10' x 10'. The shop area provides 17' clear height and pairs with a 2,575 SF detached office building. The office space features six (6) private offices and a conference area/break room. Improvements are noted as completed May 2026, along with a fully secured yard area.
The property is located at 1210 West Watkins Street, Phoenix, AZ 85007, within less than 1 mile to I-17. The site setup is oriented toward in-and-out operations, supported by multiple grade level doors and on-site secured outdoor space.
For tenants or owner-operators needing both service space and dedicated office support, the layout supports day-to-day workflow from shop to private offices and meeting space. The combination of higher clear height, multiple loading doors, and a secured yard can be practical for light industrial, distribution-adjacent, or service-focused uses that require controlled access and functional office accommodations.
The property is located at 1210 West Watkins Street, Phoenix, AZ 85007, within less than 1 mile to I-17. The site setup is oriented toward in-and-out operations, supported by multiple grade level doors and on-site secured outdoor space.
For tenants or owner-operators needing both service space and dedicated office support, the layout supports day-to-day workflow from shop to private offices and meeting space. The combination of higher clear height, multiple loading doors, and a secured yard can be practical for light industrial, distribution-adjacent, or service-focused uses that require controlled access and functional office accommodations.
Key Highlights
- 8,235 SF shop building built in 1952 with three grade‑level doors
- Clear height up to 17' in the shop area
- Two 12' x 10' and one 10' x 10' grade‑level doors
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
$82,570
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
3.30%
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%
$1,651,400
$1.7M
Cap Rate 7%
$1,179,571
$1.2M
Cap Rate 9%
$917,444
$917.4K
Market Conditions
NOI Build-Up for 10,810 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
$110.3K $10.20/SF
− Vacancy
−$13.1K −$1.21/SF
EGI
$97.1K $8.99/SF
− OpEx
−$14.6K −$1.35/SF
NOI
$82.6K $7.64/SF
Area
Phoenix, AZ
Vacancy
11.90%
Lease Rate
$10.20 /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%
$1,651,400
Cap Rate 7%
$1,179,571
Cap Rate 9%
$917,444
Alternative Uses
Best Use
Warehouse
$1.18M
$1.03M – $1.38M
NOI $82,570 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.27M
$2.87M – $3.82M
NOI $229,211 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
17 ft
Clear height
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
513
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse shop building with three grade-level doors, 17' clear height, and a detached office for efficient operations.
Where is this warehouse located?
The property is located at 1210 West Watkins Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 8,235 SF shop building built in 1952 with three grade‑level doors; Clear height up to 17' in the shop area; Two 12' x 10' and one 10' x 10' grade‑level doors
