Industrial Flex
For Sale
Contact for pricing
Pending
19349 E Germann Rd, Queen Creek, AZ 85142
Freestanding, HVAC-equipped bays support production, fabrication, storage, and mechanical operations.
Property Size11,179 SF
Days on Market556
Property Features for 19349 E Germann Rd
General Information
Standard status
Pending
Size
11,179 SF
Property subtype
INDUSTRIAL
Listing Agency:
LRA Real Estate Group LLC
(602) 451-3684
Listed By:
Don Mortensen · License #BR529840000
Source:
Moodyscre
Added: Feb 20, 2025
Changed: Aug 29
Last Checked: Aug 30 at 7:44PM
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 LRA Real Estate Group LLC
Investment Insights
Based on property information with market context.
This flex property comprises six freestanding 1,800-square-foot units along with a small office. Each unit includes HVAC, insulation, multiple electrical outlets, ceiling fans, and a drive-in bay. The property also includes a 4,000-square-foot concrete building that remains incomplete, providing additional unfinished space within the overall complex.
The improvements occupy 2.5 acres in Queen Creek at 19349 E Germann Rd. The site is fenced and gated, with two parking spaces assigned per unit. Electrical service includes 200-amp, three-phase power, supporting a range of industrial, fabrication, mechanical, body shop, warehouse, and storage applications.
The improvements occupy 2.5 acres in Queen Creek at 19349 E Germann Rd. The site is fenced and gated, with two parking spaces assigned per unit. Electrical service includes 200-amp, three-phase power, supporting a range of industrial, fabrication, mechanical, body shop, warehouse, and storage applications.
Key Highlights
- Six freestanding 1,800 SF units plus a small office
- 4,000 SF concrete building remains incomplete
- 200 Amp 3 Phase Service
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
$114,943
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
6.08%
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%
$2,298,860
$2.3M
Cap Rate 7%
$1,642,043
$1.6M
Cap Rate 9%
$1,277,144
$1.3M
Market Conditions
NOI Build-Up for 11,179 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
$155.6K $13.92/SF
− Vacancy
−$20.4K −$1.82/SF
EGI
$135.2K $12.10/SF
− OpEx
−$20.3K −$1.81/SF
NOI
$114.9K $10.28/SF
Area
Maricopa County, AZ
Vacancy
13.10%
Lease Rate
$13.92 /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%
$2,298,860
Cap Rate 7%
$1,642,043
Cap Rate 9%
$1,277,144
Alternative Uses
Best Use
Warehouse
$1.64M
$1.44M – $1.92M
NOI $114,943 @ 7.0% cap · market cap 6.08%
Second Best
Industrial
$1.27M
$1.11M – $1.49M
NOI $89,145 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$3.46M
$3.03M – $4.03M
NOI $242,058 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85142, AZ
80,734
Population
27,701
Households
2.9
Avg Household Size
34
Median Age
38%
College-Educated
96%
High-School Grad
101.3 sq mi
ZIP Area
797
Density / Sq Mi
$125,236
Median Household Income
$55,193
Median Earnings
$2,092
Median Rent
$521,300
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?
Flex space - Freestanding, HVAC-equipped bays support production, fabrication, storage, and mechanical operations.
Where is this flex space located?
The property is located at 19349 E Germann Rd Queen Creek, AZ.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Six freestanding 1,800 SF units plus a small office; 4,000 SF concrete building remains incomplete; 200 Amp 3 Phase Service
