Phoenix Flex Space with
For Sale
Contact for pricing
2930 E Washington St, Phoenix, AZ 85034
Flex space with fenced yard and light rail access.
Property Size5,750 SF
Price / SF$200
Days on Market725
Property Features for 2930 E Washington St
General Information
Standard status
Active
Size
5,750 SF
Property subtype
Industrial
Zoning
A-1
Listing Agency:
MHG Commercial
(602) 750-6986
Listed By:
Nicholas Skogen · License #SA669539000
Source:
Crexi
Added: Aug 31, 2024
Changed: Aug 14
Last Checked: Aug 23 at 8:30AM
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 MHG Commercial
Investment Insights
Based on property information with market context.
This property offers a fenced yard and convenient access to the light rail. The space features grade-level loading for efficient logistics and a clear height of 12 feet. The property is comprised of 80% warehouse space, suitable for storage and operations, and 20% office space for administrative purposes. The total property size is 5750 square feet.
Key Highlights
- Light rail connectivity for optimal transportation
- 80% warehouse space** for storage and operations
- 12‑foot clear height suitable for various industrial needs
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
$63,149
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
5.49%
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%
$1,262,980
$1.3M
Cap Rate 7%
$902,129
$902.1K
Cap Rate 9%
$701,656
$701.7K
Market Conditions
NOI Build-Up for 5,750 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
$110.4K $19.20/SF
− Vacancy
−$13.2K −$2.30/SF
EGI
$97.2K $16.90/SF
− OpEx
−$34.0K −$5.91/SF
NOI
$63.1K $10.98/SF
Area
Phoenix, AZ
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,262,980
Cap Rate 7%
$902,129
Cap Rate 9%
$701,656
Alternative Uses
Best Use
Flex RnD
$902.1K
$789.4K – $1.05M
NOI $63,149 @ 7.0% cap · market cap 5.49%
Second Best
Industrial
$516.7K
$452.1K – $602.8K
NOI $36,169 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,921 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Balanced
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with fenced yard and light rail access.
Where is this flex space located?
The property is located at 2930 E Washington St Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Light rail connectivity for optimal transportation; 80% warehouse space** for storage and operations; 12‑foot clear height suitable for various industrial needs
