Freestanding Flex
1705-1725 W Ruby Dr, Tempe, AZ 85284
For Sale
Contact for pricing
Freestanding commercial property combining office, showroom, and warehouse functions in a single building.
Property Size38,225 SF
Price / SF$285.15
Days on Market102
Property Features for 1705-1725 W Ruby Dr
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Dock-High Doors
Conditioned Warehouse
Additional Details
Asking Price
Amenities
Attractive Landscaping
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Lee & Associates | Phoenix
(602) 956-7777
Listed By:
Rick Robertson
(602) 954-3748
Source:
Moodyscre
Added: Aug 4
Changed: Nov 12
Last Checked: Nov 12 at 10:09AM
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
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Investment Insights
Based on property information with market context.
This freestanding flex property at 1705-1725 W Ruby Dr in Tempe contains 38,225 SF of building area. The configuration includes 15,342 SF of office and showroom space alongside a 22,883 SF warehouse with evaporative cooling. Built in 2007, the facility offers 24’ clear height for warehouse operations and includes seven roll-up truck doors supported by a five-position truckwell.
The site provides parking for 150 cars and is subject to RCC zoning in the City of Tempe. Landscaping is also included as part of the property improvements. The combination of office, display, and warehouse areas supports a range of flex-oriented commercial operations within one freestanding facility.
The site provides parking for 150 cars and is subject to RCC zoning in the City of Tempe. Landscaping is also included as part of the property improvements. The combination of office, display, and warehouse areas supports a range of flex-oriented commercial operations within one freestanding facility.
Key Highlights
- 38,225 SF freestanding building constructed in 2007
- 15,342 SF of office showroom space
- 22,883 SF warehouse with EVAP cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$683,251
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,665,020
$13.7M
Cap Rate 7%
$9,760,729
$9.8M
Cap Rate 9%
$7,591,678
$7.6M
Market Conditions
NOI Build-Up for 38,225 SF
Gross rent
$1.16M $30.36/SF
− Vacancy
−$249.5K −$6.53/SF
EGI
$911.0K $23.83/SF
− OpEx
−$227.8K −$5.96/SF
NOI
$683.3K $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%
$13,665,020
Cap Rate 7%
$9,760,729
Cap Rate 9%
$7,591,678
Alternative Uses
Best Use
Office B
$9.76M
$8.54M – $11.39M
NOI $683,251 @ 7.0% cap · market cap 6.27%
Second Best
Retail
$6.36M
$5.57M – $7.43M
NOI $445,512 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$12.02M
$10.52M – $14.02M
NOI $841,425 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
24 ft
Clear height
5
Dock-high doors
Location Intelligence
Trade Area within ½ mile
978
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Tempe
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Phoenix Sushi Catering — 12110 S Eagleman Dr, Phoenix, AZ 85044
- Firehouse Subs Priest & Elliot — 7700 S Priest Dr, Tempe, AZ 85284
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial property combining office, showroom, and warehouse functions in a single building.
Where is this flex space located?
The property is located at 1705-1725 W Ruby Dr Tempe, AZ.
What is the asking price?
The asking price for this property is $10,900,000.
What are key features of this property?
This property features: 38,225 SF freestanding building constructed in 2007; 15,342 SF of office showroom space; 22,883 SF warehouse with EVAP cooling
