Industrial Building with Heavy
For Sale
Contact for pricing
2115 W Mountain View Rd, Phoenix, AZ 85021
Industrial building offers heavy power, two loading docks, and multiple drive-in doors with A/C and evaporatively cooled spaces.
Property Size21,178 SF
Price / SF$182
Days on Market115
Property Features for 2115 W Mountain View Rd
General Information
Standard status
Active
Size
21,178 SF
Total Parking Spaces
24
Property subtype
Industrial
Zoning
A-1, City of Phoenix
Investment Type
Owner/User
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
5
Heavy Power
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1978
Listing Agency:
Colliers - Phoenix, Arizona
Listed By:
Brian Ackerman · License #SA532174000
(602) 418-8821
Source:
Crexi
Added: May 20
Changed: Sep 3
Last Checked: Sep 11 at 4:20AM
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 Colliers - Phoenix, Arizona
Investment Insights
Based on property information with market context.
This industrial building totaling 21,178 SF is 100% available for new occupancy and includes both warehouse and office climate control. The property is equipped with 800A/240V, 3-phase heavy power to support higher electrical demand operations. Loading access is provided through two loading docks and five drive-in grade level doors.
The building also features evaporative cooling in the warehouse and A/C in the office space. Ample parking is available with 24 covered parking spaces. The property is located near the I-17 freeway, supporting connectivity throughout Phoenix and to the north.
For tenant or buyer requirements dependent on electrical capacity and straightforward loading configurations, the combination of heavy power, dock and drive-in doors, and controlled office environment is a practical fit within this single-asset industrial offering.
The building also features evaporative cooling in the warehouse and A/C in the office space. Ample parking is available with 24 covered parking spaces. The property is located near the I-17 freeway, supporting connectivity throughout Phoenix and to the north.
For tenant or buyer requirements dependent on electrical capacity and straightforward loading configurations, the combination of heavy power, dock and drive-in doors, and controlled office environment is a practical fit within this single-asset industrial offering.
Key Highlights
- ±121,178 SF industrial building 100% available for new occupancy
- 800A / 240V, 3‑phase heavy power for warehouse operations
- Loading includes 2 loading docks and 5 drive‑in grade level doors
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
$161,763
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
4.20%
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%
$3,235,260
$3.2M
Cap Rate 7%
$2,310,900
$2.3M
Cap Rate 9%
$1,797,367
$1.8M
Market Conditions
NOI Build-Up for 21,178 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
$216.0K $10.20/SF
− Vacancy
−$25.7K −$1.21/SF
EGI
$190.3K $8.99/SF
− OpEx
−$28.5K −$1.35/SF
NOI
$161.8K $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%
$3,235,260
Cap Rate 7%
$2,310,900
Cap Rate 9%
$1,797,367
Alternative Uses
Best Use
Warehouse
$2.31M
$2.02M – $2.70M
NOI $161,763 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.41M
$5.61M – $7.48M
NOI $449,050 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Dock-high doors
5
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,338
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
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?
Refrigerated & cold storage - Industrial building offers heavy power, two loading docks, and multiple drive-in doors with A/C and evaporatively cooled spaces.
Where is this refrigerated & cold storage located?
The property is located at 2115 W Mountain View Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,854,396.
What are key features of this property?
This property features: ±121,178 SF industrial building 100% available for new occupancy; 800A / 240V, 3‑phase heavy power for warehouse operations; Loading includes 2 loading docks and 5 drive‑in grade level doors
