Industrial Property with M-1
For Sale
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2521 W Birchwood Ave, Mesa, AZ 85202
Industrial property with M-1 zoning and an established commercial address in Mesa.
Property Size27,849 SF
Price / SF$193.01
Days on Market222
Property Features for 2521 W Birchwood Ave
General Information
Standard status
Active
Size
27,849 SF
Class
B
Total Parking Spaces
90
Property subtype
Industrial
Zoning
M-1
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$337,692
Building Details
Year Built
1998
Year Renovated
2019
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Kidder Mathews
Listed By:
Pete Klees · License #SA025504000
Source:
Crexi
Added: Jan 21
Changed: Aug 29
Last Checked: Aug 29 at 7:25PM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This industrial property is located at 2521 W Birchwood Ave in Mesa, Arizona, with M-1 zoning supporting its industrial classification. The building was constructed in 1998 and is identified with ThermAir Systems, a specialty HVAC company established in 1999.
The property is situated in the 85202 ZIP code and offers an established commercial setting for industrial operations. The available information identifies the asset as an industrial property but does not provide additional details regarding interior layout, loading, parking, or building systems.
The property is situated in the 85202 ZIP code and offers an established commercial setting for industrial operations. The available information identifies the asset as an industrial property but does not provide additional details regarding interior layout, loading, parking, or building systems.
Key Highlights
- M‑1 zoning designation
- 27,849 property size
- Constructed in 1998
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
$277,188
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
5.16%
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%
$5,543,760
$5.5M
Cap Rate 7%
$3,959,829
$4.0M
Cap Rate 9%
$3,079,867
$3.1M
Market Conditions
NOI Build-Up for 27,849 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
$424.4K $15.24/SF
− Vacancy
−$28.4K −$1.02/SF
EGI
$396.0K $14.22/SF
− OpEx
−$118.8K −$4.27/SF
NOI
$277.2K $9.95/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
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%
$5,543,760
Cap Rate 7%
$3,959,829
Cap Rate 9%
$3,079,867
Alternative Uses
Best Use
Industrial
$3.96M
$3.46M – $4.62M
NOI $277,188 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.63M
$6.68M – $8.91M
NOI $534,353 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 85202, AZ
39,626
Population
18,077
Households
2.2
Avg Household Size
34
Median Age
34%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
6,391
Density / Sq Mi
$66,582
Median Household Income
$42,083
Median Earnings
$1,431
Median Rent
$334,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial property with M-1 zoning and an established commercial address in Mesa.
Where is this industrial property located?
The property is located at 2521 W Birchwood Ave Mesa, AZ.
What is the asking price?
The asking price for this property is $5,375,000.
What are key features of this property?
This property features: M‑1 zoning designation; 27,849 property size; Constructed in 1998
