Secured Industrial Land with
For Sale
Contact for pricing
3140 Grand Avenue, Phoenix, AZ 85017
Secured outdoor storage site with paved and gravel yard, warehouse/shop space, and office improvements.
Property Size5,200 SF
Price / SF$288.46
Days on Market109
Property Features for 3140 Grand Avenue
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Industrial, Land
Zoning
A-1 (Industrial)
Investment Type
Value Add
Listing Agency:
Newmark - Phoenix
(602) 952-3858
Listed By:
Gary Cornish · License #SA684021000
Source:
Crexi
Added: May 15
Changed: Aug 30
Last Checked: Aug 30 at 5:02PM
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 Newmark - Phoenix
Investment Insights
Based on property information with market context.
This vacant industrial land property is configured as a secured outdoor storage facility on approximately 0.95 acres. The site combines paved and gravel yard areas with approximately 4,200 SF of warehouse/shop space and approximately 1,000 SF of office space. The office area includes A/C and plumbing, providing functional support space alongside the industrial improvements. Zoning is A-1 (Industrial), and the property is located within a designated Opportunity Zone.
Ingress and egress are available from Grand Ave and Weldon Ave. The property also has US-60/Grand Ave frontage with access to I-17 and I-10. Major employers and industrial users surround the site, placing the facility within an established industrial setting with direct freeway connectivity.
Ingress and egress are available from Grand Ave and Weldon Ave. The property also has US-60/Grand Ave frontage with access to I-17 and I-10. Major employers and industrial users surround the site, placing the facility within an established industrial setting with direct freeway connectivity.
Key Highlights
- Approximately 0.95‑acre industrial outdoor storage facility
- A‑1 (Industrial) zoning in a designated Opportunity Zone
- Approximately 4,200 SF of warehouse/shop space
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
$57,108
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
3.81%
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%
$1,142,160
$1.1M
Cap Rate 7%
$815,829
$815.8K
Cap Rate 9%
$634,533
$634.5K
Market Conditions
NOI Build-Up for 5,200 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
$99.8K $19.20/SF
− Vacancy
−$12.0K −$2.30/SF
EGI
$87.9K $16.90/SF
− OpEx
−$30.8K −$5.91/SF
NOI
$57.1K $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%
$1,142,160
Cap Rate 7%
$815,829
Cap Rate 9%
$634,533
Alternative Uses
Best Use
Flex RnD
$815.8K
$713.9K – $951.8K
NOI $57,108 @ 7.0% cap · market cap 3.81%
Second Best
Warehouse
$567.4K
$496.5K – $662.0K
NOI $39,719 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,259 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 85017, AZ
45,279
Population
12,743
Households
3.6
Avg Household Size
26
Median Age
11%
College-Educated
65%
High-School Grad
5.3 sq mi
ZIP Area
8,543
Density / Sq Mi
$51,737
Median Household Income
$29,371
Median Earnings
$1,197
Median Rent
$242,900
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?
Industrial land - Secured outdoor storage site with paved and gravel yard, warehouse/shop space, and office improvements.
Where is this industrial land located?
The property is located at 3140 Grand Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 0.95‑acre industrial outdoor storage facility; A‑1 (Industrial) zoning in a designated Opportunity Zone; Approximately 4,200 SF of warehouse/shop space
