Warehouse with Dock-High
For Sale
$4,500,000
2423 E University Dr, Phoenix, AZ 85034
Warehouse with dock-high doors, renovated interior with LED lighting, and office plus cold and refrigerated storage space.
Property Size17,671 SF
Price / SF$254.65
Days on Market94
Property Features for 2423 E University Dr
General Information
Standard status
Active
Size
17,671 SF
Property subtype
Industrial
Site & Location
Neighborhood
Central City
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
20 ft
Office Build-Out
2,430 SF
Dock-High Doors
3
Power
800 amps
Voltage
208 V
Three-Phase Power
Yes
Cold Storage
Yes
Refrigeration
Freon-Based Cooling System
Amenities
High-Speed Optic Fiber Cable
Building Details
Building Size
17,671 SF
Year Built
1966
Listed By:
Conner Lee, SIOR
(602) 474-9516
Source:
Lee-associates
Added: Jul 29
Changed: Oct 28
Last Checked: Oct 30 at 11:39AM
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 Conner Lee, SIOR
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Investment Insights
Based on property information with market context.
This warehouse facility offers a mix of office and temperature-controlled storage, totaling 17,671 SF. The building provides up to 20’ clear height and includes three (3) dock high doors for loading and distribution. Cooling is provided via a freon-based system, supported by a power supply rated at 800A 120/208V, 3-phase. Natural gas is available.
The space includes approximately 2,430 SF of air-conditioned office. Additional support space includes about 1,008 SF of LED-lighted shipping office and locker room, and about 1,492 SF of finished and insulated dry storage with LED lighting. Temperature-controlled areas include approximately 3,364 SF of cold storage with a fully insulated floor and 32° capability, 936 SF of cold storage with 0° capability, and about 8,846 SF of refrigerated space with 32° capability.
Recent renovations and LED lighting upgrades are included, along with working floor drains. High-speed optic fiber cable is available in the office for connectivity.
The space includes approximately 2,430 SF of air-conditioned office. Additional support space includes about 1,008 SF of LED-lighted shipping office and locker room, and about 1,492 SF of finished and insulated dry storage with LED lighting. Temperature-controlled areas include approximately 3,364 SF of cold storage with a fully insulated floor and 32° capability, 936 SF of cold storage with 0° capability, and about 8,846 SF of refrigerated space with 32° capability.
Recent renovations and LED lighting upgrades are included, along with working floor drains. High-speed optic fiber cable is available in the office for connectivity.
Key Highlights
- 17,671 SF warehouse with up to 20’ clear height
- Three dock‑high doors for loading operations
- 2,430 SF air‑conditioned office plus LED‑lit shipping office and locker room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,976
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,699,520
$2.7M
Cap Rate 7%
$1,928,229
$1.9M
Cap Rate 9%
$1,499,733
$1.5M
Market Conditions
NOI Build-Up for 17,671 SF
Gross rent
$180.2K $10.20/SF
− Vacancy
−$21.4K −$1.21/SF
EGI
$158.8K $8.99/SF
− OpEx
−$23.8K −$1.35/SF
NOI
$135.0K $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 Rate 5%
$2,699,520
Cap Rate 7%
$1,928,229
Cap Rate 9%
$1,499,733
Alternative Uses
Best Use
Warehouse
$1.93M
$1.69M – $2.25M
NOI $134,976 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.35M
$4.68M – $6.24M
NOI $374,689 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20 ft
Clear height
3
Dock-high doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
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Business Placement
Demographics for 85034, AZ
5,033
Population
2,901
Households
1.7
Avg Household Size
32
Median Age
32%
College-Educated
81%
High-School Grad
11.6 sq mi
ZIP Area
434
Density / Sq Mi
$53,545
Median Household Income
$43,236
Median Earnings
$1,205
Median Rent
$397,400
Median Home Value
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Market
Vacancy Rate% for Industrial in Phoenix, AZ
Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Warehouse with dock-high doors, renovated interior with LED lighting, and office plus cold and refrigerated storage space.
Where is this refrigerated & cold storage located?
The property is located at 2423 E University Dr Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 17,671 SF warehouse with up to 20’ clear height; Three dock‑high doors for loading operations; 2,430 SF air‑conditioned office plus LED‑lit shipping office and locker room
