Flex Space with
1375 W Drivers Way, Tempe, AZ 85284
For Sale
Contact for pricing
Versatile industrial space with substantial office programming, high-capacity power, and parking for business operations.
Property Size26,282 SF
Price / SF$220.68
Days on Market99
Property Features for 1375 W Drivers Way
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Warehouse & Industrial
Clear Height
Mezzanine
Power
Heavy Power
Amenities
kitchen
Building Details
Year Built
Year Renovated
Listing Agency:
Colliers - Phoenix, Arizona
Listed By:
Anthony Timpani · License AZ SA705358000
(602) 222-5141
Source:
Crexi
Added: Aug 7
Changed: Nov 13
Last Checked: Nov 12 at 7:32AM
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 Colliers - Phoenix, Arizona
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Investment Insights
Based on property information with market context.
This 26,282-square-foot flex property at Tempe Business Center was built in 1998 and includes a mezzanine level of approximately 5,613 square feet. The building combines industrial functionality with office-related space, supporting a range of flex, specialty, and warehouse-oriented operations. Interior features include 22-foot clear heights, a 1,600-amp electrical service, and a kitchen.
The property is located at 1375 W Drivers Way in Tempe, Arizona. Ample parking is available on site, adding practical support for occupants and visitors. Its configuration brings together warehouse-oriented volume, office capacity, and utility infrastructure within a single commercial building.
The property is located at 1375 W Drivers Way in Tempe, Arizona. Ample parking is available on site, adding practical support for occupants and visitors. Its configuration brings together warehouse-oriented volume, office capacity, and utility infrastructure within a single commercial building.
Key Highlights
- 26,282 SF flex property at Tempe Business Center
- Approximately 5,613 SF mezzanine level
- 22‑foot clear heights
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$469,776
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,395,520
$9.4M
Cap Rate 7%
$6,711,086
$6.7M
Cap Rate 9%
$5,219,733
$5.2M
Market Conditions
NOI Build-Up for 26,282 SF
Gross rent
$797.9K $30.36/SF
− Vacancy
−$171.6K −$6.53/SF
EGI
$626.4K $23.83/SF
− OpEx
−$156.6K −$5.96/SF
NOI
$469.8K $17.87/SF
Area
Tempe, AZ
Vacancy
21.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,395,520
Cap Rate 7%
$6,711,086
Cap Rate 9%
$5,219,733
Alternative Uses
Best Use
Office B
$6.71M
$5.87M – $7.83M
NOI $469,776 @ 7.0% cap · market cap 8.10%
Second Best
Warehouse
$4.15M
$3.63M – $4.84M
NOI $290,407 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$8.26M
$7.23M – $9.64M
NOI $578,530 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
22 ft
Clear height
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85284, AZ
18,638
Population
7,589
Households
2.5
Avg Household Size
45
Median Age
69%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
2,389
Density / Sq Mi
$154,663
Median Household Income
$64,288
Median Earnings
$2,162
Median Rent
$646,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Flex space in Tempe
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Firehouse Subs Priest & Elliot — 7700 S Priest Dr, Tempe, AZ 85284
Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial space with substantial office programming, high-capacity power, and parking for business operations.
Where is this flex space located?
The property is located at 1375 W Drivers Way Tempe, AZ.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 26,282 SF flex property at Tempe Business Center; Approximately 5,613 SF mezzanine level; 22‑foot clear heights
