Multi-Tenant Flex
For Sale
Contact for pricing
128 W Boxelder Pl, Chandler, AZ 85225
Multi-tenant warehouse with 14-foot clear height, office/showroom entry, multiple grade-level doors, and a gated yard.
Property Size14,157 SF
Price / SF$222
Days on Market311
Property Features for 128 W Boxelder Pl
General Information
Standard status
Active
Size
14,157 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
6
Additional Details
Fenced Yard
Yes
Amenities
Gated Yard
Building Details
Tenancy
Multi
Listing Agency:
Commercial Properties Inc
(480) 966-2301
Listed By:
Cory Breinholt · License ##SA661346000
(480) 220-9987
Source:
Moodyscre
Added: Nov 6, 2025
Changed: Sep 9
Last Checked: Sep 12 at 9:52AM
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
Investment Insights
Based on property information with market context.
This multi-tenant flex warehouse offers 14-foot clear height and direct, functional access for loading and operations. The building includes (6) 10' x 12' grade level doors, plus a front door office/showroom for client-facing or administrative use. A gated yard supports controlled outdoor storage or staging.
The property is offered for sale as an owner-user opportunity with income potential, supported by its multi-tenant configuration.
Overall, the combination of clear height, multiple grade-level doors, front office/showroom space, and a gated yard makes the building suited for a range of light industrial and flex-style needs where both workspace and efficient access matter.
The property is offered for sale as an owner-user opportunity with income potential, supported by its multi-tenant configuration.
Overall, the combination of clear height, multiple grade-level doors, front office/showroom space, and a gated yard makes the building suited for a range of light industrial and flex-style needs where both workspace and efficient access matter.
Key Highlights
- Multi‑tenant warehouse building with 14' clear height
- Includes (6) 10' x 12' grade level doors
- Front door office/showroom for customer or entry use
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
$142,448
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
4.53%
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%
$2,848,960
$2.8M
Cap Rate 7%
$2,034,971
$2.0M
Cap Rate 9%
$1,582,756
$1.6M
Market Conditions
NOI Build-Up for 14,157 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
$254.8K $18.00/SF
− Vacancy
−$35.7K −$2.52/SF
EGI
$219.2K $15.48/SF
− OpEx
−$76.7K −$5.42/SF
NOI
$142.4K $10.06/SF
Area
Chandler, AZ
Vacancy
14.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,848,960
Cap Rate 7%
$2,034,971
Cap Rate 9%
$1,582,756
Alternative Uses
Best Use
Flex RnD
$2.03M
$1.78M – $2.37M
NOI $142,448 @ 7.0% cap · market cap 4.53%
Second Best
Warehouse
$1.97M
$1.72M – $2.29M
NOI $137,665 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $284,046 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
6
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85225, AZ
73,551
Population
28,930
Households
2.5
Avg Household Size
35
Median Age
33%
College-Educated
88%
High-School Grad
12.7 sq mi
ZIP Area
5,791
Density / Sq Mi
$86,036
Median Household Income
$45,692
Median Earnings
$1,662
Median Rent
$386,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant warehouse with 14-foot clear height, office/showroom entry, multiple grade-level doors, and a gated yard.
Where is this flex space located?
The property is located at 128 W Boxelder Pl Chandler, AZ.
What is the asking price?
The asking price for this property is $3,142,854.
What are key features of this property?
This property features: Multi‑tenant warehouse building with 14' clear height; Includes (6) 10' x 12' grade level doors; Front door office/showroom for customer or entry use
