Flex Warehouse For
For Sale
$899,900
236 N Country Club Drive, Mesa, AZ 85201
Versatile flex warehouse available for sale in Mesa, offering space suitable for light industrial and operational needs.
Property Size3,774 SF
Price / SF$238.45
Days on Market186
Property Features for 236 N Country Club Drive
General Information
Standard status
Active
Size
3,774 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$4,675
Building Details
Year Built
1987
Listing Agency:
COBE Real Estate, Inc.
(480) 628-6363
Listed By:
Timothy Zaharis · License #BR577140000
(480) 628-6363
Source:
Exitrealty
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 10 at 5:25AM
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 COBE Real Estate, Inc.
Investment Insights
Based on property information with market context.
This flex warehouse property is offered for sale and totals 3,774 square feet. As a flex-style industrial building, it is suited for tenants and owners looking for adaptable space that can support both warehouse activities and general workspace needs. The offering is straightforward for buyers evaluating a compact facility within the broader flex/industrial market.
Located at 236 N Country Club Drive in Mesa, Arizona (85201), the property benefits from its established in-town setting. The address provides direct access for day-to-day operations, deliveries, and customer or employee visits, subject to normal site access conditions.
For prospective tenants or buyers, the flex/warehouse configuration can work for a range of light industrial users seeking a smaller footprint with operational versatility. If you’re looking for an owner-occupied or investment-minded industrial asset, this property’s size and flex orientation make it worth reviewing as part of your search for practical warehouse space in Mesa.
Located at 236 N Country Club Drive in Mesa, Arizona (85201), the property benefits from its established in-town setting. The address provides direct access for day-to-day operations, deliveries, and customer or employee visits, subject to normal site access conditions.
For prospective tenants or buyers, the flex/warehouse configuration can work for a range of light industrial users seeking a smaller footprint with operational versatility. If you’re looking for an owner-occupied or investment-minded industrial asset, this property’s size and flex orientation make it worth reviewing as part of your search for practical warehouse space in Mesa.
Key Highlights
- Flex warehouse for sale in Mesa
- Built in 1987
- Space suited for light industrial and operational uses
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
$45,857
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
5.10%
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%
$917,140
$917.1K
Cap Rate 7%
$655,100
$655.1K
Cap Rate 9%
$509,522
$509.5K
Market Conditions
NOI Build-Up for 3,774 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
$57.5K $15.24/SF
− Vacancy
−$3.6K −$0.94/SF
EGI
$53.9K $14.30/SF
− OpEx
−$8.1K −$2.14/SF
NOI
$45.9K $12.15/SF
Area
ZIP 85201
Vacancy
6.20%
Lease Rate
$15.24 /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%
$917,140
Cap Rate 7%
$655,100
Cap Rate 9%
$509,522
Alternative Uses
Best Use
Warehouse
$655.1K
$573.2K – $764.3K
NOI $45,857 @ 7.0% cap · market cap 5.10%
Second Best
Flex RnD
$638.4K
$558.6K – $744.8K
NOI $44,686 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$978.2K
$855.9K – $1.14M
NOI $68,475 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85201, AZ
51,187
Population
23,099
Households
2.2
Avg Household Size
33
Median Age
27%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
5,445
Density / Sq Mi
$63,725
Median Household Income
$40,067
Median Earnings
$1,349
Median Rent
$292,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex warehouse available for sale in Mesa, offering space suitable for light industrial and operational needs.
Where is this flex space located?
The property is located at 236 N Country Club Drive Mesa, AZ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Flex warehouse for sale in Mesa; Built in 1987; Space suited for light industrial and operational uses
