Flex Space with Grade-Level
For Sale
$692,000
Pending
2920 E MOHAWK Lane 111, Phoenix, AZ 85050
Reception, three offices, a kitchen, restroom, and warehouse area support varied operations.
Property Size1,978 SF
Days on Market497
Property Features for 2920 E MOHAWK Lane 111
General Information
Standard status
Pending
Size
1,978 SF
Property subtype
Commercial/Industrial
Zoning
CP & GCP
Warehouse & Industrial
Drive-In Doors
1
Power
225 amps
Voltage
208 V
Three-Phase Power
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$2,935
Building Details
Year Built
2005
Listing Agency:
Cutler Commercial
(602) 955-3500
Listed By:
Jim M Lieberthal · License #BR516852000
(602) 955-3500
Source:
Exitrealty
Added: Apr 23, 2025
Changed: Aug 31
Last Checked: Sep 1 at 6:08PM
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 Cutler Commercial
Investment Insights
Based on property information with market context.
Unit 111 is a 1,978-square-foot flex space with a reception area, three offices, kitchen, restroom, and warehouse area. The unit includes an electric overhead door measuring approximately 14' x 12', grade-level loading, fire sprinklers, and 120/208-volt, three-phase, 225-amp power.
The property is located at 2920 E. Mohawk Lane in Phoenix and carries CP and GCP zoning under the City of Phoenix. HOA-covered items include water, sewer, trash, landscaping, the roof, and asphalt reserves. The unit was built in a multi-unit commercial property setting.
The property is located at 2920 E. Mohawk Lane in Phoenix and carries CP and GCP zoning under the City of Phoenix. HOA-covered items include water, sewer, trash, landscaping, the roof, and asphalt reserves. The unit was built in a multi-unit commercial property setting.
Key Highlights
- 1,978 SF flex space with reception, 3 offices, kitchen, restroom, and warehouse area
- Electric overhead door approximately 14' x 12'
- Grade‑level loading access
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
$33,861
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
4.89%
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%
$677,220
$677.2K
Cap Rate 7%
$483,729
$483.7K
Cap Rate 9%
$376,233
$376.2K
Market Conditions
NOI Build-Up for 1,978 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
$60.8K $30.72/SF
− Vacancy
−$15.6K −$7.90/SF
EGI
$45.1K $22.82/SF
− OpEx
−$11.3K −$5.71/SF
NOI
$33.9K $17.12/SF
Area
Phoenix, AZ
Vacancy
25.70%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$677,220
Cap Rate 7%
$483,729
Cap Rate 9%
$376,233
Alternative Uses
Best Use
Office B
$483.7K
$423.3K – $564.4K
NOI $33,861 @ 7.0% cap · market cap 4.89%
Second Best
Flex RnD
$310.3K
$271.5K – $362.1K
NOI $21,723 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$599.2K
$524.3K – $699.0K
NOI $41,941 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85050, AZ
31,591
Population
13,000
Households
2.4
Avg Household Size
41
Median Age
58%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
2,120
Density / Sq Mi
$137,389
Median Household Income
$71,401
Median Earnings
$2,200
Median Rent
$564,200
Median Home Value
Market
Vacancy Rate% for Office in Phoenix, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Reception, three offices, a kitchen, restroom, and warehouse area support varied operations.
Where is this flex space located?
The property is located at 2920 E MOHAWK Lane 111 Phoenix, AZ.
What is the asking price?
The asking price for this property is $692,000.
What are key features of this property?
This property features: 1,978 SF flex space with reception, 3 offices, kitchen, restroom, and warehouse area; Electric overhead door approximately 14' x 12'; Grade‑level loading access
