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    Industrial Flex Space with Loading Doors Title is generated by Realmo AI

    2405 W University Dr, Tempe, AZ 85281

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    Updated office and LED lighting support warehouse or light distribution operations with dock-high and grade-level loading.

    Type:Industrial
    Property size:
    16,675 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:47 am

    Property Features for 2405 W University Dr

    General Information

    Standard status
    Active
    Size
    16,675 SF
    Property subtype
    Industrial

    Spaces For Lease

    at 2405 W University Dr Contact us

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    Listing Contact
    Robert Wolfsen

    Listing agent Robert Wolfsen

    Listing office

    Listing date Jun 2, 2026

    Source Lpc

    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 Robert Wolfsen

    HighLights

    • 16,675 SF industrial space in Tempe’s industrial corridor
    • Loading includes 2 dock‑high loading doors and 2 grade‑level loading doors
    • Recently updated office with new carpet, paint, and lighting
    • LED lighting throughout the facility
    • Prime access to the 143, I‑10, and 202 University Drive frontage

    Overview

    This 16,675 SF industrial flex space is offered for lease in Tempe’s industrial corridor, combining warehouse functionality with a recently updated office area. The building includes two dock-high loading doors and two grade-level loading doors, supported by new LED lighting throughout. The office space has been refreshed with new carpet, paint, and lighting, providing a more polished environment for administrative use.

    The property offers frontage on West University Drive and is positioned for convenient regional access to major routes, supporting efficient inbound and outbound operations. Its location and loading configuration make it practical for tenants seeking a straightforward warehouse layout paired with functional office space.

    With multiple loading types and an updated office finish, the space is well suited for light distribution, storage, and other warehouse-oriented users that need dependable dock service while retaining space for day-to-day office functions. The overall mix of improvements and access makes it a solid fit for businesses looking for an industrial facility with immediate functionality.
    Location Intelligence

    Current Use by Public Records

    Susie's Mexican Cafe ... Restaurant FedEx Drop Box Shipping Company Safelite AutoGlass General Contractor Simplot Turf & Horticulture Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Nail Salon Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hurd Computer Consulting Service, LLC — 4636 E Elwood St Suite 12, Phoenix, AZ 85040
    • Hohokam Commerce Center — Tempe, AZ 85281
    • Superior Logistics Center — 4240 E Superior Ave, Phoenix, AZ 85040
    • Mentors Moving & Storage — 3416 S 48th St Suite 3, Phoenix, AZ 85040
    • KACO Warehouse Outfitters — 3025 S 46th St., Phoenix, AZ 85040

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9754122
    Latitude
    33.4212024

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    FAQs

    What type of property is this?
    Warehouse - Updated office and LED lighting support warehouse or light distribution operations with dock-high and grade-level loading.
    Where is this warehouse located?
    The property is located at 2405 W University Dr Tempe, AZ.
    What are key features of this property?
    This property features: 16,675 SF industrial space in Tempe’s industrial corridor; Loading includes 2 dock‑high loading doors and 2 grade‑level loading doors; Recently updated office with new carpet, paint, and lighting
    (480) 334-8272
    We can help!
    Listing Contact
    Robert Wolfsen
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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