Masonry Distribution Center with Dock
For Sale
Contact for pricing
1926 W North Ln, Phoenix, AZ 85021
C-3-zoned industrial facility offers dock and grade-level loading for distribution operations.
Property Size18,400 SF
Lot Size1.12 Acres
Price / SF$217.39
Days on Market218
Property Features for 1926 W North Ln
General Information
Standard status
Active
Size
18,400 SF
Total Parking Spaces
28
Lot size
1.12 Acres
Property subtype
Industrial
Zoning
C-3
Warehouse & Industrial
Clear Height
22 ft
Dock-High Doors
2
Drive-In Doors
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1976
Year Renovated
2025
Tenancy
Single
Construction
masonry
Listing Agency:
SVN | Desert Commercial Advisors
Listed By:
Jonathan Levy · License #AZ SA648012000
(623) 556-6420
Source:
Crexi
Added: Feb 3
Changed: Sep 8
Last Checked: Aug 30 at 12:21AM
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 SVN | Desert Commercial Advisors
Investment Insights
Based on property information with market context.
This masonry distribution facility contains approximately 18,400 square feet on approximately 1.12 acres. The property includes improvements dating to 1976, along with an industrial addition completed in 1998. Loading infrastructure includes two truckwells with dock-high positions and levelers, plus two 12' x 14' grade-level drive-in doors. The newer warehouse area provides 22' clear height, supporting a range of distribution and light manufacturing functions. The site is zoned C-3.
Located approximately 0.5 miles from the I-17 Freeway, the property provides access to the broader Phoenix transportation network. It is adjacent to the redevelopment of Metrocenter Mall and approximately 4 miles east of Grand Canyon University. Downtown Phoenix is approximately 8 miles south, while Phoenix Sky Harbor International Airport is approximately 10 miles southeast.
Located approximately 0.5 miles from the I-17 Freeway, the property provides access to the broader Phoenix transportation network. It is adjacent to the redevelopment of Metrocenter Mall and approximately 4 miles east of Grand Canyon University. Downtown Phoenix is approximately 8 miles south, while Phoenix Sky Harbor International Airport is approximately 10 miles southeast.
Key Highlights
- Approximately 18,400 SF industrial distribution facility
- Approximately 1.12‑acre site zoned C‑3
- Two truckwells with dock‑high positions and levelers
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
$140,544
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
3.51%
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%
$2,810,880
$2.8M
Cap Rate 7%
$2,007,771
$2.0M
Cap Rate 9%
$1,561,600
$1.6M
Market Conditions
NOI Build-Up for 18,400 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
$187.7K $10.20/SF
− Vacancy
−$22.3K −$1.21/SF
EGI
$165.3K $8.99/SF
− OpEx
−$24.8K −$1.35/SF
NOI
$140.5K $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%
$2,810,880
Cap Rate 7%
$2,007,771
Cap Rate 9%
$1,561,600
Alternative Uses
Best Use
Warehouse
$2.01M
$1.76M – $2.34M
NOI $140,544 @ 7.0% cap · market cap 3.51%
Second Best
Industrial
$1.65M
$1.45M – $1.93M
NOI $115,742 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$5.57M
$4.88M – $6.50M
NOI $390,146 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
2
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
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?
Distribution center - C-3-zoned industrial facility offers dock and grade-level loading for distribution operations.
Where is this distribution center located?
The property is located at 1926 W North Ln Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Approximately 18,400 SF industrial distribution facility; Approximately 1.12‑acre site zoned C‑3; Two truckwells with dock‑high positions and levelers
