Flex Space with Overhead
For Sale
Contact for pricing
1808 S 1st Ave, Phoenix, AZ 85003
Flex space with large overhead crane, 16-ft clear height, and EVAP-cooled warehouse plus AC-cooled office.
Property Size6,465 SF
Price / SF$201.08
Days on Market71
Property Features for 1808 S 1st Ave
General Information
Standard status
Active
Size
6,465 SF
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Mezzanine
800 SF
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Conditioned Warehouse
Yes
Building Details
Construction
block
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Landon McKernan · License #SA690813000
(916) 872-7909
Source:
Moodyscre
Added: Jul 6
Changed: Sep 13
Last Checked: Sep 13 at 5:57AM
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 flex space features block construction and a large overhead crane, supported by a fully sprinklered warehouse environment. The facility includes an EVAP-cooled warehouse area and an AC-cooled office for temperature-controlled operations, along with a fully fenced yard/parking area.
Interior clear height is 16 ft, with approximately 1,800 SF of mezzanine for additional workspace or storage. Electrical service includes 3-phase power at 480V, providing capacity for a range of light industrial or distribution uses.
Total property size is 6,465 SF, making it well-suited for tenants seeking a climate-controlled flex configuration with powered support and an overhead crane for handling equipment and materials.
Interior clear height is 16 ft, with approximately 1,800 SF of mezzanine for additional workspace or storage. Electrical service includes 3-phase power at 480V, providing capacity for a range of light industrial or distribution uses.
Total property size is 6,465 SF, making it well-suited for tenants seeking a climate-controlled flex configuration with powered support and an overhead crane for handling equipment and materials.
Key Highlights
- Block construction with large overhead crane
- 16 ft clear height for warehouse operations
- EVAP‑cooled warehouse with AC‑cooled office
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
$71,001
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
5.46%
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%
$1,420,020
$1.4M
Cap Rate 7%
$1,014,300
$1.0M
Cap Rate 9%
$788,900
$788.9K
Market Conditions
NOI Build-Up for 6,465 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
$124.1K $19.20/SF
− Vacancy
−$14.9K −$2.30/SF
EGI
$109.2K $16.90/SF
− OpEx
−$38.2K −$5.91/SF
NOI
$71.0K $10.98/SF
Area
Phoenix, AZ
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,420,020
Cap Rate 7%
$1,014,300
Cap Rate 9%
$788,900
Alternative Uses
Best Use
Flex RnD
$1.01M
$887.5K – $1.18M
NOI $71,001 @ 7.0% cap · market cap 5.46%
Second Best
Warehouse
$705.4K
$617.3K – $823.0K
NOI $49,381 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,081 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85003, AZ
11,042
Population
6,117
Households
1.8
Avg Household Size
37
Median Age
45%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
5,812
Density / Sq Mi
$56,672
Median Household Income
$55,122
Median Earnings
$1,258
Median Rent
$577,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with large overhead crane, 16-ft clear height, and EVAP-cooled warehouse plus AC-cooled office.
Where is this flex space located?
The property is located at 1808 S 1st Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Block construction with large overhead crane; 16 ft clear height for warehouse operations; EVAP‑cooled warehouse with AC‑cooled office
