Industrial Warehouse Near Sky
For Sale
Contact for pricing
1904 E Washington St, Phoenix, AZ 85034
10,000 SF warehouse on 0.36 acres near I-10.
Property Size10,000 SF
Lot Size0.36 Acres
Price / SF$168.50
Days on Market660
Property Features for 1904 E Washington St
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.36 Acres
Property subtype
Industrial
Zoning
C-3, City of Phoenix
Building Details
Year Built
2000
Buildings
1
Stories
1
Listing Agency:
Rein & Grossoehme Commercial Real Estate
Listed By:
Max Schumacher, SIOR · License #SA678600000
Source:
Crexi
Added: Oct 23, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:36AM
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 Rein & Grossoehme Commercial Real Estate
Investment Insights
Based on property information with market context.
An industrial warehouse with approximately 10,000 square feet of space is available for sale. The property is situated on approximately 0.36 acres and has frontage on Washington Street. Its location is adjacent to the I-10 freeway and Phoenix Sky Harbor airport. The site is fully fenced. The warehouse features a 10-foot clear height, three grade-level doors, and one truck well. The central location provides convenient access to other major freeway systems, including Loop 202, US-60, and I-17.
Key Highlights
- Excellent location adjacent to I‑10 and Phoenix Sky Harbor Airport.
- ±10,000 SF industrial warehouse on ±0.36 acres.**
- Easy access to Loop 202, US‑60, and I‑17.
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
$76,383
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
4.53%
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%
$1,527,660
$1.5M
Cap Rate 7%
$1,091,186
$1.1M
Cap Rate 9%
$848,700
$848.7K
Market Conditions
NOI Build-Up for 10,000 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
$102.0K $10.20/SF
− Vacancy
−$12.1K −$1.21/SF
EGI
$89.9K $8.99/SF
− OpEx
−$13.5K −$1.35/SF
NOI
$76.4K $7.64/SF
Area
Phoenix, AZ
Vacancy
11.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$1,527,660
Cap Rate 7%
$1,091,186
Cap Rate 9%
$848,700
Alternative Uses
Best Use
Warehouse
$1.09M
$954.8K – $1.27M
NOI $76,383 @ 7.0% cap · market cap 4.53%
Second Best
Industrial
$898.6K
$786.3K – $1.05M
NOI $62,903 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $212,036 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85034, AZ
5,033
Population
2,901
Households
1.7
Avg Household Size
32
Median Age
32%
College-Educated
81%
High-School Grad
11.6 sq mi
ZIP Area
434
Density / Sq Mi
$53,545
Median Household Income
$43,236
Median Earnings
$1,205
Median Rent
$397,400
Median Home Value
Market
Vacancy Rate% for Industrial in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 10,000 SF warehouse on 0.36 acres near I-10.
Where is this warehouse located?
The property is located at 1904 E Washington St Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,685,000.
What are key features of this property?
This property features: Excellent location adjacent to I‑10 and Phoenix Sky Harbor Airport.; ±10,000 SF industrial warehouse on ±0.36 acres.**; Easy access to Loop 202, US‑60, and I‑17.
