Light Industrial Warehouse with
For Sale
Contact for pricing
1830-1880 W Fillmore St, Phoenix, AZ 85007
28,767 SF light industrial property on 1.38 acres with a renovated stand-alone office and zoned A-1.
Property Size28,767 SF
Lot Size1.38 Acres
Price / SF$225.95
Days on Market145
Property Features for 1830-1880 W Fillmore St
General Information
Standard status
Active
Size
28,767 SF
Lot size
1.38 Acres
Property subtype
INDUSTRIAL
Zoning
A-1
Additional Details
Highway Access
Yes
Amenities
upgraded restrooms
four private offices
conference room
break room
open work area
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Matt Leonard · License #BR544219000
(602) 369-7127
Source:
Moodyscre
Added: Apr 22
Changed: Sep 2
Last Checked: Sep 12 at 4:06AM
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 ±28,767 SF industrial property sits on ±1.38 acres and is zoned A-1 (Light Industrial) by the City of Phoenix. It offers a flexible investment or owner-user opportunity for sale or lease, with the north warehouse currently leased through October 31, 2026.
The property includes a recently renovated, stand-alone office building with upgraded restrooms, four private offices, a conference room, a break room, and an open work area designed to support a range of operational needs.
Located in a Downtown Phoenix industrial corridor with access to I-17, I-10, Loop 202, and Phoenix Sky Harbor International Airport, the site supports regional connectivity for logistics, manufacturing, and service users.
The property includes a recently renovated, stand-alone office building with upgraded restrooms, four private offices, a conference room, a break room, and an open work area designed to support a range of operational needs.
Located in a Downtown Phoenix industrial corridor with access to I-17, I-10, Loop 202, and Phoenix Sky Harbor International Airport, the site supports regional connectivity for logistics, manufacturing, and service users.
Key Highlights
- 28,767 SF industrial property on 1.38 acres in Phoenix, zoned A‑1 (Light Industrial)
- Available for sale or lease, with flexible investment or owner‑user potential
- North warehouse is leased through October 31, 2026
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
$315,931
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
4.86%
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%
$6,318,620
$6.3M
Cap Rate 7%
$4,513,300
$4.5M
Cap Rate 9%
$3,510,344
$3.5M
Market Conditions
NOI Build-Up for 28,767 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
$552.3K $19.20/SF
− Vacancy
−$66.3K −$2.30/SF
EGI
$486.0K $16.90/SF
− OpEx
−$170.1K −$5.91/SF
NOI
$315.9K $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%
$6,318,620
Cap Rate 7%
$4,513,300
Cap Rate 9%
$3,510,344
Alternative Uses
Best Use
Flex RnD
$4.51M
$3.95M – $5.27M
NOI $315,931 @ 7.0% cap · market cap 4.86%
Second Best
Warehouse
$3.14M
$2.75M – $3.66M
NOI $219,730 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$8.71M
$7.62M – $10.17M
NOI $609,964 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,144
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85007, AZ
14,442
Population
5,981
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
3,140
Density / Sq Mi
$55,833
Median Household Income
$43,375
Median Earnings
$1,079
Median Rent
$447,000
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
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Frequently Asked Questions
What type of property is this?
Flex space - 28,767 SF light industrial property on 1.38 acres with a renovated stand-alone office and zoned A-1.
Where is this flex space located?
The property is located at 1830-1880 W Fillmore St Phoenix, AZ.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 28,767 SF industrial property on 1.38 acres in Phoenix, zoned A‑1 (Light Industrial); Available for sale or lease, with flexible investment or owner‑user potential; North warehouse is leased through October 31, 2026
