Flex Space with
New
For Sale
$5,500,000
1701 W Broadway Rd, Mesa, AZ 85202
Light industrial property with a dedicated showroom, secured outdoor storage, and multiple points of site access.
Property Size21,000 SF
Lot Size1.92 Acres
Price / SF$261.90
Days on Market3
Property Features for 1701 W Broadway Rd
General Information
Standard status
Active
Size
21,000 SF
Lot size
1.92 Acres
Property subtype
Industrial
Zoning
M1, Mesa (light industrial)
Site & Location
Traffic Count
65,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
secured lot
covered parking
Building Details
Building Size
21,000 SF
Listing Agency:
SRS Real Estate Partners | Phoenix
(602) 369-1368
Listed By:
Scott Ellsworth · License #.SA116826000
(602) 369-1368
Source:
Srsre
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 2:23AM
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 SRS Real Estate Partners | Phoenix
Investment Insights
Based on property information with market context.
This flex space offers ±21,000 SF across approximately 1.92 acres, including a ±5,500 SF showroom. The property also features a paved, secured lot with covered parking and multiple access points that support circulation across the site. M-1 zoning in the City of Mesa accommodates a range of light industrial uses.
Positioned at 1701 W Broadway Rd in Mesa, the property has prominent roadside exposure and signage potential. Loop 101 is approximately 1.2mi away, and the intersection records combined traffic of ±65,000 VPD. The site’s blend of showroom, building area, secured yard, and covered parking supports a range of flex-oriented commercial operations.
Positioned at 1701 W Broadway Rd in Mesa, the property has prominent roadside exposure and signage potential. Loop 101 is approximately 1.2mi away, and the intersection records combined traffic of ±65,000 VPD. The site’s blend of showroom, building area, secured yard, and covered parking supports a range of flex-oriented commercial operations.
Key Highlights
- ±21,000 SF on approximately 1.92 acres
- ±5,500 SF showroom included
- Paved and secured lot with ample covered parking
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
3.80%
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 3.80%
Second Best
Flex RnD
$2.77M
$2.43M – $3.23M
NOI $194,088 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$5.76M
$5.04M – $6.72M
NOI $402,938 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
65,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
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
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 - Light industrial property with a dedicated showroom, secured outdoor storage, and multiple points of site access.
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 $5,500,000.
What are key features of this property?
This property features: ±21,000 SF on approximately 1.92 acres; ±5,500 SF showroom included; Paved and secured lot with ample covered parking
