Flex Space with Grade Level
For Sale
$3,225,000
3749 E Atlanta Ave, Phoenix, AZ 85040
Freestanding flex space featuring two grade level doors, secure fenced yard, and an on-site photovoltaic solar system.
Property Size10,750 SF
Price / SF$300
Days on Market50
Property Features for 3749 E Atlanta Ave
General Information
Standard status
Active
Size
10,750 SF
Class
C
Property subtype
Industrial - Manufacturing
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
2
Power
1,200 amps
Voltage
208 V
Three-Phase Power
Yes
Building Details
Building Size
10,750 SF
Year Built
1987
Units
2
Listing Agency:
Levrose Commercial Real Estate
Listed By:
Matt Leonard · License #BR544219000
(602) 369-7127
Source:
Commercialcafe
Added: Jul 28
Changed: Sep 13
Last Checked: Sep 15 at 5:56AM
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 Levrose Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding flex space includes a warehouse with 16” clear height and high-end office finishes. The warehouse is serviced by two (2) 12’ X 14” grade level doors, supported by 1,200 Amps of 120/208 Volt, 3 Phase electrical service. The property also has a secure fenced yard.
The building features 17.5 Kw photovoltaic solar, adding on-site power generation. Convenient freeway access is available to I-17, I-10, US-60, Loop 101, and Loop 202.
With a flex layout combining office finishes and warehouse space, the property can support a range of light industrial and distribution-oriented uses that benefit from secure outdoor area and straightforward grade level loading.
The building features 17.5 Kw photovoltaic solar, adding on-site power generation. Convenient freeway access is available to I-17, I-10, US-60, Loop 101, and Loop 202.
With a flex layout combining office finishes and warehouse space, the property can support a range of light industrial and distribution-oriented uses that benefit from secure outdoor area and straightforward grade level loading.
Key Highlights
- Freestanding flex space with 10,750 SF building area
- Two (2) 12’ X 14” grade level doors
- 16” clear height in warehouse
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
$118,061
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
3.66%
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%
$2,361,220
$2.4M
Cap Rate 7%
$1,686,586
$1.7M
Cap Rate 9%
$1,311,789
$1.3M
Market Conditions
NOI Build-Up for 10,750 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
$206.4K $19.20/SF
− Vacancy
−$24.8K −$2.30/SF
EGI
$181.6K $16.90/SF
− OpEx
−$63.6K −$5.91/SF
NOI
$118.1K $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%
$2,361,220
Cap Rate 7%
$1,686,586
Cap Rate 9%
$1,311,789
Alternative Uses
Best Use
Flex RnD
$1.69M
$1.48M – $1.97M
NOI $118,061 @ 7.0% cap · market cap 3.66%
Second Best
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,111 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,939 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85040, AZ
33,993
Population
11,962
Households
2.8
Avg Household Size
30
Median Age
15%
College-Educated
69%
High-School Grad
10.1 sq mi
ZIP Area
3,366
Density / Sq Mi
$57,890
Median Household Income
$36,355
Median Earnings
$1,193
Median Rent
$294,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding flex space featuring two grade level doors, secure fenced yard, and an on-site photovoltaic solar system.
Where is this flex space located?
The property is located at 3749 E Atlanta Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,225,000.
What are key features of this property?
This property features: Freestanding flex space with 10,750 SF building area; Two (2) 12’ X 14” grade level doors; 16” clear height in warehouse
