Flex Space with Fenced
For Sale
$762,250
3151 N Piper Ave Ste B102, Casa Grande, AZ 85122
Shell-condition industrial condominium with a secured outdoor yard and light industrial zoning.
Property Size3,049 SF
Days on Market138
Property Features for 3151 N Piper Ave Ste B102
General Information
Standard status
Active
Size
3,049 SF
Property subtype
Industrial
Zoning
Light Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Building Details
Building Size
3,049 SF
Year Built
2005
Listing Agency:
Commercial Properties Inc Tempe
(480) 390-3515
Listed By:
Sarge Glenn · License #SA522625000
(480) 390-3515
Source:
Cpiaz
Added: Apr 16
Changed: Aug 29
Last Checked: Aug 29 at 10:57PM
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 Commercial Properties Inc Tempe
Investment Insights
Based on property information with market context.
This 2005 flex space is configured as a shell-condition industrial condominium with a fenced yard. The property carries light industrial zoning and is identified as Ste B102 within the condominium project.
The location is adjacent to Casa Grande Municipal Airport and near I-10, with street-facing visibility and signage opportunities noted for the property. The address is 3151 N Piper Ave, Ste B102, Casa Grande, AZ 85122.
The location is adjacent to Casa Grande Municipal Airport and near I-10, with street-facing visibility and signage opportunities noted for the property. The address is 3151 N Piper Ave, Ste B102, Casa Grande, AZ 85122.
Key Highlights
- Shell‑condition flex space condominium
- Fenced yard included with the unit
- Light industrial zoning
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
$31,350
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
4.11%
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%
$627,000
$627.0K
Cap Rate 7%
$447,857
$447.9K
Cap Rate 9%
$348,333
$348.3K
Market Conditions
NOI Build-Up for 3,049 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
$42.4K $13.92/SF
− Vacancy
−$5.6K −$1.82/SF
EGI
$36.9K $12.10/SF
− OpEx
−$5.5K −$1.81/SF
NOI
$31.3K $10.28/SF
Area
Pinal County, AZ
Vacancy
13.10%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
15.00%
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%
$627,000
Cap Rate 7%
$447,857
Cap Rate 9%
$348,333
Alternative Uses
Best Use
Warehouse
$447.9K
$391.9K – $522.5K
NOI $31,350 @ 7.0% cap · market cap 4.11%
Second Best
Flex RnD
$238.1K
$208.3K – $277.8K
NOI $16,667 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$842.9K
$737.6K – $983.4K
NOI $59,005 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85122, AZ
55,063
Population
24,238
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
56.4 sq mi
ZIP Area
976
Density / Sq Mi
$64,243
Median Household Income
$38,679
Median Earnings
$1,289
Median Rent
$242,500
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?
Flex space - Shell-condition industrial condominium with a secured outdoor yard and light industrial zoning.
Where is this flex space located?
The property is located at 3151 N Piper Ave Ste B102 Casa Grande, AZ.
What is the asking price?
The asking price for this property is $762,250.
What are key features of this property?
This property features: Shell‑condition flex space condominium; Fenced yard included with the unit; Light industrial zoning
