Land with Warehouse and Guest
For Sale
$500,000
Pending
1816 N 25th Place -, Phoenix, AZ 85008
Residential-zoned central Phoenix land includes a warehouse plus separate guest quarters suited to live-work or owner-use.
Property Size3,000 SF
Lot Size0.91 Acres
Days on Market132
Property Features for 1816 N 25th Place -
General Information
Standard status
Pending
Size
3,000 SF
Lot size
0.91 Acres
Property subtype
Lots/Land
Taxes and HOA fees
Annual Taxes
$6,626
Listing Agency:
Arizona Network Realty
(602) 751-1298
Listed By:
Lynn Watson · License #BR557414000
(602) 751-1298
Source:
Exitrealty
Added: Apr 2
Changed: Aug 8
Last Checked: Aug 8 at 3:42PM
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 Arizona Network Realty
Investment Insights
Based on property information with market context.
The property is approximately 0.91 acres zoned for residential use and includes an approximately 3,000 square foot warehouse. The warehouse was originally used for cabinet making and offers adaptable storage and utility space. On-site, there is an approximately 494 square foot guest quarters area within the structure, featuring a kitchen area, an open living/sleeping space, and a separate bathroom with shower. The guest quarters is cooled by a mini-split system, creating an additional, distinct interior space for flexible occupancy.
Located in central Phoenix, the property is positioned for convenient access to major corridors and nearby amenities. The listing notes that buyer is responsible for verifying zoning, allowable uses, and development potential.
This setup can fit a live-work concept where the warehouse supports day-to-day operations while the guest quarters provide a separate residential-style area. For investors, builders, and owner-users, the combination of land and existing improvements can support multiple planning directions, depending on verified permitted uses and development approvals.
Located in central Phoenix, the property is positioned for convenient access to major corridors and nearby amenities. The listing notes that buyer is responsible for verifying zoning, allowable uses, and development potential.
This setup can fit a live-work concept where the warehouse supports day-to-day operations while the guest quarters provide a separate residential-style area. For investors, builders, and owner-users, the combination of land and existing improvements can support multiple planning directions, depending on verified permitted uses and development approvals.
Key Highlights
- Approximately 0.91‑acre property zoned for residential use in central Phoenix
- Includes an approx 3,000 SF warehouse originally used for cabinet making
- Warehouse includes approx 494 SF guest quarters with kitchen area, open living/sleeping space, and separate shower bathroom
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
$42,075
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
8.42%
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%
$841,500
$841.5K
Cap Rate 7%
$601,071
$601.1K
Cap Rate 9%
$467,500
$467.5K
Market Conditions
NOI Build-Up for 3,000 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
$79.2K $26.40/SF
− Vacancy
−$11.9K −$3.96/SF
EGI
$67.3K $22.44/SF
− OpEx
−$25.2K −$8.42/SF
NOI
$42.1K $14.02/SF
Area
ZIP 85008
Vacancy
15.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
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%
$841,500
Cap Rate 7%
$601,071
Cap Rate 9%
$467,500
Alternative Uses
Best Use
Office B
$733.7K
$642.0K – $855.9K
NOI $51,356 @ 7.0% cap · market cap 10.27%
Second Best
Mixed Use
$601.1K
$525.9K – $701.3K
NOI $42,075 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$927.1K
$811.2K – $1.08M
NOI $64,899 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Residential-zoned central Phoenix land includes a warehouse plus separate guest quarters suited to live-work or owner-use.
Where is this live-work space located?
The property is located at 1816 N 25th Place - Phoenix, AZ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Approximately 0.91‑acre property zoned for residential use in central Phoenix; Includes an approx 3,000 SF warehouse originally used for cabinet making; Warehouse includes approx 494 SF guest quarters with kitchen area, open living/sleeping space, and separate shower bathroom
