Industrial Warehouse with Secure
New
For Sale
$4,309,000
2405 W Geneva Dr, Tempe, AZ 85282
Single-tenant industrial facility with fenced yard, grade-level loading, office accommodations, and I-2 zoning.
Property Size17,236 SF
Days on Market7
Property Features for 2405 W Geneva Dr
General Information
Standard status
Active
Size
17,236 SF
Property subtype
Industrial
Building Details
Building Size
17,236 SF
Year Built
1984
Listing Agency:
Commercial Properties Inc
Listed By:
David Bean · License #AZ #BR627726000
(480) 299-5964
Source:
Cpiaz
Added: Sep 20
Changed: Sep 22
Last Checked: Sep 24 at 8:44AM
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 Commercial Properties Inc
Investment Insights
Based on property information with market context.
This 17,236-square-foot industrial warehouse was built in 1984 and is configured for single-tenant occupancy. The building includes reception space, three offices, a conference room, two bull pens, and three restrooms. Operational features include a 16-foot clear height, two grade-level doors, 277/480V power, and a fully sprinklered interior. A secure fenced yard provides additional exterior space for industrial operations.
The property is located at 2405 W Geneva Drive in Tempe, Arizona, near the intersection of 48th Street and Southern Avenue. It offers immediate access to I-10 and is zoned I-2, supporting its industrial warehouse profile.
The property is located at 2405 W Geneva Drive in Tempe, Arizona, near the intersection of 48th Street and Southern Avenue. It offers immediate access to I-10 and is zoned I-2, supporting its industrial warehouse profile.
Key Highlights
- 17,236 SF industrial warehouse built in 1984
- I‑2 zoning with single‑tenant configuration
- Secure, fenced yard with 16’ clear height
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
$190,452
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
4.42%
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%
$3,809,040
$3.8M
Cap Rate 7%
$2,720,743
$2.7M
Cap Rate 9%
$2,116,133
$2.1M
Market Conditions
NOI Build-Up for 17,236 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
$237.9K $13.80/SF
− Vacancy
−$13.8K −$0.80/SF
EGI
$224.1K $13.00/SF
− OpEx
−$33.6K −$1.95/SF
NOI
$190.5K $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%
$3,809,040
Cap Rate 7%
$2,720,743
Cap Rate 9%
$2,116,133
Alternative Uses
Best Use
Warehouse
$2.72M
$2.38M – $3.17M
NOI $190,452 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.42M
$4.74M – $6.32M
NOI $379,406 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85282, AZ
52,351
Population
25,667
Households
2
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
4,716
Density / Sq Mi
$79,084
Median Household Income
$43,863
Median Earnings
$1,627
Median Rent
$370,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Extra Space Storage — 2222 W Southern Ave, Tempe, AZ 85282
- J.C.B/T.A. — 2727 S 48th St, Tempe, AZ 85282
Frequently Asked Questions
What type of property is this?
Warehouse - Single-tenant industrial facility with fenced yard, grade-level loading, office accommodations, and I-2 zoning.
Where is this warehouse located?
The property is located at 2405 W Geneva Dr Tempe, AZ.
What is the asking price?
The asking price for this property is $4,309,000.
What are key features of this property?
This property features: 17,236 SF industrial warehouse built in 1984; I‑2 zoning with single‑tenant configuration; Secure, fenced yard with 16’ clear height
