Building Details

Building Size 55,349 SF

Year Built 1965

Buildings 1

Listing Agency: Lee & Associates | Phoenix

Listed By: TJ Swearengin Show Phone

Source: Lee-associates

Added: Aug 22 Changed: Oct 8 Last Checked: Oct 16 at 6:14AM

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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 Lee & Associates | Phoenix

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Investment Insights

Based on property information with market context.

Located at 2512 E Magnolia Street in Phoenix, Arizona, this industrial flex property contains a 58,890-square-foot building constructed in 1965. The facility offers a substantial footprint and a functional configuration suited to warehouse, distribution, and flex industrial operations.

Industrial zoning supports its commercial positioning, while the adaptable layout may accommodate multiple occupiers or an owner-user configuration. The property is also presented as an income-producing industrial asset for buyers evaluating portfolio additions.

Key Highlights

• 58,890‑square‑foot industrial building
• Industrial zoning supports warehouse, distribution, and flex uses
• Adaptable layout designed for multiple occupiers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$449,818

Cap Rate

6.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,996,360 $9.0M

Cap Rate 7%

$6,425,971 $6.4M

Cap Rate 9%

$4,997,978 $5.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 58,890 SF

Gross rent

$600.7K $10.20/SF

− Vacancy

−$71.5K −$1.21/SF

EGI

$529.2K $8.99/SF

− OpEx

−$79.4K −$1.35/SF

NOI

$449.8K $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 Rate 5%

$8,996,360

Cap Rate 7%

$6,425,971

Cap Rate 9%

$4,997,978

Alternative Uses

Best Use

Flex RnD

$9.24M

$8.08M – $10.78M (±1% cap)

NOI $646,754 @ 7.0% cap · market cap 9.95%

Second Best

Warehouse

$6.43M

$5.62M – $7.50M (±1% cap)

NOI $449,818 @ 7.0% cap · market cap 6.92%

Theoretical Best

Office A

$17.84M

$15.61M – $20.81M (±1% cap)

NOI $1,248,680 @ 7.0% cap · market cap 19.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Hair Salon Bakery (Bike/Boat/Book/etc) Store Computer & Electronic Repair Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

527

Businesses Nearby

Well-served

Demand for This Use

Explore this area 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

Market

Vacancy Rate% for Industrial in Phoenix, AZ

6.8% 2019

8.1% 2020

5% 2021

4.4% 2022

8.9% 2023

12.2% 2024

12.7% 2025

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Similar Off Market Nearby

• LSG Sky Chefs Inc — 3555 S 28th St, Phoenix, AZ 85040
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Frequently Asked Questions

What type of property is this?

Flex space - Industrial-zoned facility with a large, adaptable footprint for warehouse, distribution, or flex operations.

Where is this flex space located?

The property is located at 2512 E Magnolia St Phoenix, AZ.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: 58,890‑square‑foot industrial building; Industrial zoning supports warehouse, distribution, and flex uses; Adaptable layout designed for multiple occupiers