Flex Industrial Property with Fenced
For Sale
Contact for pricing
1701 W Broadway Rd, Mesa, AZ 85202
Flex industrial property featuring a secured fenced yard and a large metal canopy, plus office/showroom space.
Property Size21,000 SF
Price / SF$276.19
Days on Market110
Property Features for 1701 W Broadway Rd
General Information
Standard status
Active
Size
21,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Lee & Associates | Phoenix
(602) 956-7777
Listed By:
Matthew Hobaica
(602) 954-3755
Source:
Moodyscre
Added: May 29
Changed: Aug 16
Last Checked: Sep 14 at 9:08AM
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 Lee & Associates | Phoenix
Investment Insights
Based on property information with market context.
This flex industrial property includes a secured, fenced yard with exterior lighting and a large metal canopy designed for covered operations. Space is supported by a 5,500 SF office/showroom area for administrative use and client-facing needs, creating a practical live-work style setup within an industrial environment.
The property offers prime frontage along Broadway Road in Mesa’s industrial hub and convenient access to US-60, Loop 101, and Loop 202, with major airports also within reach.
With its combination of covered outdoor space, secure yard improvements, and dedicated office/showroom area, the building is suited to businesses that require both operational space and on-site customer or administrative capabilities.
The property offers prime frontage along Broadway Road in Mesa’s industrial hub and convenient access to US-60, Loop 101, and Loop 202, with major airports also within reach.
With its combination of covered outdoor space, secure yard improvements, and dedicated office/showroom area, the building is suited to businesses that require both operational space and on-site customer or administrative capabilities.
Key Highlights
- Prime frontage along Broadway Road in Mesa’s industrial hub
- Secured, fenced yard with exterior lighting
- ±10,000 SF metal canopy for covered operations
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
$209,018
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
3.60%
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%
$4,180,360
$4.2M
Cap Rate 7%
$2,985,971
$3.0M
Cap Rate 9%
$2,322,422
$2.3M
Market Conditions
NOI Build-Up for 21,000 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
$320.0K $15.24/SF
− Vacancy
−$21.4K −$1.02/SF
EGI
$298.6K $14.22/SF
− OpEx
−$89.6K −$4.27/SF
NOI
$209.0K $9.95/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
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%
$4,180,360
Cap Rate 7%
$2,985,971
Cap Rate 9%
$2,322,422
Alternative Uses
Best Use
Industrial
$2.99M
$2.61M – $3.48M
NOI $209,018 @ 7.0% cap · market cap 3.60%
Second Best
Flex RnD
$2.77M
$2.43M – $3.23M
NOI $194,088 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$5.76M
$5.04M – $6.72M
NOI $402,938 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,209
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85202, AZ
39,626
Population
18,077
Households
2.2
Avg Household Size
34
Median Age
34%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
6,391
Density / Sq Mi
$66,582
Median Household Income
$42,083
Median Earnings
$1,431
Median Rent
$334,200
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
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Frequently Asked Questions
What type of property is this?
Flex space - Flex industrial property featuring a secured fenced yard and a large metal canopy, plus office/showroom space.
Where is this flex space located?
The property is located at 1701 W Broadway Rd Mesa, 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: Prime frontage along Broadway Road in Mesa’s industrial hub; Secured, fenced yard with exterior lighting; ±10,000 SF metal canopy for covered operations
