HVAC Warehouse with Secured
For Sale
Contact for pricing
2000 West 1st Street, Tempe, AZ 85281
Connected industrial buildings offer flexible occupancy, grade-level loading, and I-2 zoning in Tempe.
Property Size22,543 SF
Price / SF$240
Days on Market9
Property Features for 2000 West 1st Street
General Information
Standard status
Active
Size
22,543 SF
Class
B
Property subtype
Industrial
Zoning
I-2, Tempe
Lease Type
NNN
Additional Details
Utilities to Site
Yes
Conditioned Warehouse
Yes
Amenities
Covered Parking Available
Building Details
Year Built
1996
Buildings
2
Listing Agency:
Ross Brown Partners, Inc
(480) 362-9507
Listed By:
Kyle Mcginley · License #AZ SA663730000
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 10 at 2:32PM
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 Ross Brown Partners, Inc
Investment Insights
Based on property information with market context.
This industrial warehouse property includes two connected buildings with a combined 22,543 SF and a 12,000 SF floor plate. The improvements feature 100% HVAC, grade-level loading, and access to a freight elevator. Grade-level doors connect the buildings on both the first and second floors, supporting movement between the structures. Separate power and water services are in place, and the configuration can accommodate multiple tenants. A secured yard provides controlled exterior space, while covered parking can be added or provided based on operational needs. Built in 1996, the property is located at 2000 West 1st Street in Tempe and carries I-2 zoning.
Key Highlights
- 22,543 SF warehouse property with a 12,000 SF floor plate
- Two connected buildings with grade‑level doors on floors 1 and 2
- 100% HVAC and freight elevator access
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
$249,092
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
4.60%
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%
$4,981,840
$5.0M
Cap Rate 7%
$3,558,457
$3.6M
Cap Rate 9%
$2,767,689
$2.8M
Market Conditions
NOI Build-Up for 22,543 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
$311.1K $13.80/SF
− Vacancy
−$18.0K −$0.80/SF
EGI
$293.0K $13.00/SF
− OpEx
−$44.0K −$1.95/SF
NOI
$249.1K $11.05/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$13.80 /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%
$4,981,840
Cap Rate 7%
$3,558,457
Cap Rate 9%
$2,767,689
Alternative Uses
Best Use
Warehouse
$3.56M
$3.11M – $4.15M
NOI $249,092 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.09M
$6.20M – $8.27M
NOI $496,226 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CubeSmart Self Storage — 2235 W 1st St, Tempe, AZ 85281
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- Poindexter Moving — 3045 S 46th St., Phoenix, AZ 85040
- United Movers and Storage LLC — 2211 w 1st st #101, tempe, az 85281
- KACO Warehouse Outfitters — 3025 S 46th St., Phoenix, AZ 85040
Frequently Asked Questions
What type of property is this?
Warehouse - Connected industrial buildings offer flexible occupancy, grade-level loading, and I-2 zoning in Tempe.
Where is this warehouse located?
The property is located at 2000 West 1st Street Tempe, AZ.
What is the asking price?
The asking price for this property is $5,410,320.
What are key features of this property?
This property features: 22,543 SF warehouse property with a 12,000 SF floor plate; Two connected buildings with grade‑level doors on floors 1 and 2; 100% HVAC and freight elevator access
