Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    16402 N 28th Ave Phoenix, AZ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    21,244 SF flex space with industrial zoning.

    Type:FLEX_R_AND_D
    Property size:
    21,244 SF
    Lot size:
    4.59 Acres
    Price / SF:
    $574/SF
    Added:
    Sep 3, 2025
    Days on Market:
    236
    Last Refresh:
    Apr 5 at 9:05 pm

    Property Features for 16402 N 28th Ave

    General Information

    Standard status
    Active
    Size
    21,244 SF
    Lot size
    4.59 Acres
    Property subtype
    FLEX_R_AND_D

    Properties For Sale

    at 16402 N 28th Ave Contact us

    We can help!

    Listing Contact
    Andrew Brigham
    Andrew Brigham

    Listing agent Andrew Brigham

    Listing office CBRE | Phoenix

    Listing date Sep 3, 2025

    Source Moodyscre

    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 CBRE | Phoenix

    Overview

    Phoenix Flex Space For Rent

    This 21,244 square foot flex space is available for rent. The property is zoned for Industrial Park (City of Phoenix), which allows for outside storage. The building is 100% air conditioned. It features 17 to 19 foot clear height, although the entire property currently has a 10-foot drop ceiling environment. The property has approximately 1,600 AMPS 277/480 V power. There are three points of ingress and egress. The property includes two grade-level doors and one truckwell door, with the potential for expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kemper Insurance Insurance Agency Alliance United Insurance ... Insurance Agency Vangent Inc Business Management Consultant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Mi Catering — 17423 N 25th Ave, Phoenix, AZ 85023
    • Absolute Wholesale — 2814 W Bell Rd Suite 1460, Phoenix, AZ 85053

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.119
    Latitude
    33.6347

    Nearby Similar for Sale

    • $695,000

      Renovated Phoenix Property with Guesthouse

      Renovated Phoenix property featuring a main house and detached guesthouse.
      1005 E MARIPOSA Street, Phoenix, AZ 85014
      View Details
    • $499,000

      Phoenix Multifamily Value-Add Opportunity

      Multifamily property with two separate structures in central Phoenix.
      1212 E TAYLOR Street, Phoenix, AZ 85006
      View Details
    • $399,000

      Renovated Duplex in North Mountain

      Remodeled duplex with private yards, laundry, and mountain views.
      10839 N 15TH Avenue N, Phoenix, AZ 85029
      View Details
    • $427,000

      Phoenix Duplex Value-Add Opportunity

      Duplex in convenient location with income potential and upside.
      2226 N 28TH Street, Phoenix, AZ 85008
      View Details
    • $529,000

      Phoenix Multifamily Property with Income Potential

      Value-add multifamily property in the Garfield District with income potential.
      1145 E ROOSEVELT Street, Phoenix, AZ 85006
      View Details
    • $900,000

      Remodeled Multifamily Property in Phoenix

      Turnkey investment with immediate cash flow in Phoenix, Arizona.
      2925 N 38TH Street, Phoenix, AZ 85018
      View Details
    • $879,000

      Phoenix Multifamily Investment Opportunity

      Four-unit property with upside potential in North Phoenix.
      17859 N 40TH Street, Phoenix, AZ 85032
      View Details
    • $875,000

      Remodeled Fourplex in Historic Phoenix

      Well-maintained fourplex with remodeled units in Central Phoenix.
      1317 W MONROE Street, Phoenix, AZ 85007
      View Details
    • $625,000

      Value-Add Opportunity in Downtown Phoenix

      Mixed-use property with income potential in a developing urban neighborhood.
      215 N 12TH Avenue, Phoenix, AZ 85007
      View Details
    • $650,000

      Renovated Multi-Family Active Airbnb

      Remodeled 1911 Craftsman near Downtown Phoenix attractions.
      1502 W MONROE Street, Phoenix, AZ 85007
      View Details
    • $683,990

      New Duplex Near Downtown Phoenix

      New duplex near downtown Phoenix with light rail expansion potential.
      1712 S 3RD Street, Phoenix, AZ 85004
      View Details
    • $780,000

      Renovated Phoenix Multifamily Short-Term Rental

      Comprehensively renovated 4-unit short-term rental in prime Phoenix location.
      322 N 11TH Place, Phoenix, AZ 85006
      View Details

    FAQs

    What type of property is this?
    Flex space - 21,244 SF flex space with industrial zoning.
    Where is this flex space located?
    The property is located at 16402 N 28th Ave Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $12,200,000.
    What are key features of this property?
    This property features: Industrial Park Zoning allows outside storage; **±1,600 AMPS 277/480 V Power**; 100% air conditioned building
    (602) 228-1331 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Andrew Brigham
    Andrew Brigham
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!