Flex Space with Secured
New
For Sale
Contact for pricing
3685 S Winchester Rd, Apache Junction, AZ 85119
Flex property combining office accommodation, warehouse space, and a secured concrete yard area.
Property Size5,000 SF
Lot Size1.09 Acres
Price / SF$300
Days on Market4
Property Features for 3685 S Winchester Rd
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.09 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
1,400 SF
Drive-In Doors
3
Additional Details
Asking Price
$1,500,000
Outdoor Storage
Yes
Listing Agency:
Lee & Associates | Phoenix
(602) 312-6736
Listed By:
Matt McDougall
(602) 312-6736
Source:
Moodyscre
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 4:53AM
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 Lee & Associates | Phoenix
Investment Insights
Based on property information with market context.
This flex property contains 5,000 SF with 1,400 SF dedicated to office space. The balance supports warehouse or industrial operations, with 16’ clear height and three 14’ x 10’ grade-level doors. A secured concrete yard area adds exterior operating space to the 1.09-acre site.
The property is located at 3685 S Winchester Rd in Apache Junction, Arizona. Existing lease term runs through 12/31/2026, providing a defined occupancy period for the asset.
The property is located at 3685 S Winchester Rd in Apache Junction, Arizona. Existing lease term runs through 12/31/2026, providing a defined occupancy period for the asset.
Key Highlights
- 5,000 SF flex property with 1,400 SF of office space
- 1.09‑acre site with a secured concrete yard area
- 16’ clear height supports warehouse operations
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
$68,967
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
4.60%
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%
$1,379,340
$1.4M
Cap Rate 7%
$985,243
$985.2K
Cap Rate 9%
$766,300
$766.3K
Market Conditions
NOI Build-Up for 5,000 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
$116.4K $23.28/SF
− Vacancy
−$24.4K −$4.89/SF
EGI
$92.0K $18.39/SF
− OpEx
−$23.0K −$4.60/SF
NOI
$69.0K $13.79/SF
Area
Pinal County, AZ
Vacancy
21.00%
Lease Rate
$23.28 /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%
$1,379,340
Cap Rate 7%
$985,243
Cap Rate 9%
$766,300
Alternative Uses
Best Use
Office B
$985.2K
$862.1K – $1.15M
NOI $68,967 @ 7.0% cap · market cap 4.60%
Second Best
Warehouse
$734.4K
$642.6K – $856.8K
NOI $51,410 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,761 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85119, AZ
22,069
Population
13,462
Households
1.6
Avg Household Size
56
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
482
Density / Sq Mi
$69,949
Median Household Income
$44,223
Median Earnings
$1,365
Median Rent
$259,100
Median Home Value
Market
Vacancy Rate% for Office 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 - Flex property combining office accommodation, warehouse space, and a secured concrete yard area.
Where is this flex space located?
The property is located at 3685 S Winchester Rd Apache Junction, 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: 5,000 SF flex property with 1,400 SF of office space; 1.09‑acre site with a secured concrete yard area; 16’ clear height supports warehouse operations
