Multi-Tenant Industrial
For Sale
Contact for pricing
3442 W Wilshire Dr, Phoenix, AZ 85009
Fully occupied industrial asset with diversified tenancy and a seller-backed leaseback structure.
Property Size33,823 SF
Price / SF$133.05
Days on Market9
Property Features for 3442 W Wilshire Dr
General Information
Standard status
Active
Size
33,823 SF
Property subtype
INDUSTRIAL
Occupancy
100%
Additional Details
Asking Price
$4,500,000
Road Access
Yes
Building Details
Tenancy
Multi-Tenant
Listing Agency:
Matthews Real Estate Investment Services | Phoenix
(866) 889-0550
Listed By:
Gage Tuller · License #SA712585000(AZ)
(415) 745-0360
Source:
Moodyscre
Added: Sep 16
Last Checked: Sep 22 at 9:09PM
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 Matthews Real Estate Investment Services | Phoenix
Investment Insights
Based on property information with market context.
This 33,823-square-foot industrial property is fully occupied by 19 tenants, creating a multi-tenant configuration with diversified in-place occupancy. Ownership will provide a five-year leaseback at market rental rates, supporting continuity following the sale. The asset carries a 7.48% pro forma capitalization rate.
Located at 3442 W Wilshire Dr in Phoenix, Arizona, the property also has frontage along 35th Avenue, providing access and exposure for the tenant base. The industrial building offers an established operating platform with current occupancy and multiple tenancy relationships in place.
Located at 3442 W Wilshire Dr in Phoenix, Arizona, the property also has frontage along 35th Avenue, providing access and exposure for the tenant base. The industrial building offers an established operating platform with current occupancy and multiple tenancy relationships in place.
Key Highlights
- 33,823‑square‑foot industrial property
- 19‑tenant occupancy provides a diversified tenancy profile
- 100% occupied at present
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
$212,758
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
4.73%
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%
$4,255,160
$4.3M
Cap Rate 7%
$3,039,400
$3.0M
Cap Rate 9%
$2,363,978
$2.4M
Market Conditions
NOI Build-Up for 33,823 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
$345.0K $10.20/SF
− Vacancy
−$41.1K −$1.21/SF
EGI
$303.9K $8.99/SF
− OpEx
−$91.2K −$2.70/SF
NOI
$212.8K $6.29/SF
Area
Phoenix, AZ
Vacancy
11.90%
Lease Rate
$10.20 /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%
$4,255,160
Cap Rate 7%
$3,039,400
Cap Rate 9%
$2,363,978
Alternative Uses
Best Use
Industrial
$3.04M
$2.66M – $3.55M
NOI $212,758 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.25M
$8.96M – $11.95M
NOI $717,169 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-Tenant-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 85009, AZ
50,439
Population
14,873
Households
3.4
Avg Household Size
31
Median Age
7%
College-Educated
59%
High-School Grad
14.7 sq mi
ZIP Area
3,431
Density / Sq Mi
$51,615
Median Household Income
$29,674
Median Earnings
$1,128
Median Rent
$215,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Phoenix, AZ
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 - Fully occupied industrial asset with diversified tenancy and a seller-backed leaseback structure.
Where is this industrial property located?
The property is located at 3442 W Wilshire Dr Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 33,823‑square‑foot industrial property; 19‑tenant occupancy provides a diversified tenancy profile; 100% occupied at present
