Phoenix Warehouse Near 10
For Sale
Contact for pricing
1502 N 29th Ave, Phoenix, AZ
9,120 SF warehouse with 18' clear height, close to I-10.
Property Size9,120 SF
Lot Size0.54 Acres
Price / SF$230.26
Days on Market458
Property Features for 1502 N 29th Ave
General Information
Standard status
Active
Size
9,120 SF
Lot size
0.54 Acres
Property subtype
INDUSTRIAL
Listing Agency:
LevRose Commercial Real Estate
(310) 462-6036
Listed By:
Marty Maier · License #SA561466000
(310) 462-6036
Source:
Moodyscre
Added: May 22, 2025
Changed: Jul 6
Last Checked: Aug 22 at 9:27AM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This 9,120 square foot warehouse is located in Phoenix, Arizona, and features concrete tilt-up construction. The property offers an 18-foot clear height. It is positioned close to the 10 Freeway. The warehouse includes a total of three drive-in doors, each measuring 12 feet wide and 10 feet high.
Key Highlights
- Close to 10 Freeway
- 18’ Clear Height
- Concrete Tilt‑Up construction
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
$69,661
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
3.32%
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%
$1,393,220
$1.4M
Cap Rate 7%
$995,157
$995.2K
Cap Rate 9%
$774,011
$774.0K
Market Conditions
NOI Build-Up for 9,120 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
$93.0K $10.20/SF
− Vacancy
−$11.1K −$1.21/SF
EGI
$82.0K $8.99/SF
− OpEx
−$12.3K −$1.35/SF
NOI
$69.7K $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%
$1,393,220
Cap Rate 7%
$995,157
Cap Rate 9%
$774,011
Alternative Uses
Best Use
Warehouse
$995.2K
$870.8K – $1.16M
NOI $69,661 @ 7.0% cap · market cap 3.32%
Second Best
Industrial
$819.5K
$717.1K – $956.1K
NOI $57,368 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,377 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- TEFL Warehouse — 2228 N Black Cyn Hwy, Phoenix, AZ 85009
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Frequently Asked Questions
What type of property is this?
Warehouse - 9,120 SF warehouse with 18' clear height, close to I-10.
Where is this warehouse located?
The property is located at 1502 N 29th Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Close to 10 Freeway; 18’ Clear Height; Concrete Tilt‑Up construction
