Light Industrial Warehouse with GL
For Sale
$1,500,000
4009 N 39th Avenue, Phoenix, AZ 85019
Light industrial warehouse offering 12–16’ clear height, three 10’ x 11’ grade-level doors, and three-phase power.
Property Size8,577 SF
Price / SF$174.89
Days on Market90
Property Features for 4009 N 39th Avenue
General Information
Standard status
Active
Size
8,577 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
3
Heavy Power
Yes
Building Details
Building Size
8,577 SF
Listing Agency:
Lee & Associates - Arizona
Listed By:
Pete Batschelet, SIOR · License #SA557221000
(602) 912-3522
Source:
Lee-associates
Added: Jun 16
Changed: Sep 12
Last Checked: Sep 12 at 4:55AM
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 - Arizona
Investment Insights
Based on property information with market context.
This light industrial warehouse features approximately 8,577 SF of building space on an approximately 16,000 SF lot. The clear height ranges from 12’ to 16’, supporting practical storage and distribution needs. Loading is handled by three (3) grade-level doors measuring 10’ x 11’. Utilities include 1200 amps of electrical service with three-phase power, and natural gas is available.
The property is offered for sale and includes available details on the site’s tax bill and utility structure, with 2025 taxes listed at $4,586 (about $0.044/SF). A natural gas lease rate of $1.00/SF is also noted on the listing, with the transaction structured as NNN for applicable items.
For tenants or buyers seeking a straightforward light industrial building with multiple grade-level loading points and meaningful clear height, this configuration can fit businesses that prioritize flexible truck access and efficient interior height. The presence of three-phase power and 1200-amp service supports operations that require higher electrical capacity within a warehouse setting.
The property is offered for sale and includes available details on the site’s tax bill and utility structure, with 2025 taxes listed at $4,586 (about $0.044/SF). A natural gas lease rate of $1.00/SF is also noted on the listing, with the transaction structured as NNN for applicable items.
For tenants or buyers seeking a straightforward light industrial building with multiple grade-level loading points and meaningful clear height, this configuration can fit businesses that prioritize flexible truck access and efficient interior height. The presence of three-phase power and 1200-amp service supports operations that require higher electrical capacity within a warehouse setting.
Key Highlights
- Light industrial building built in 1958 with 8,577 SF on a 16,000 SF lot (APN: 107‑33‑016C)
- 12’–16’ clear height with three 10’ x 11’ grade‑level GL doors
- 1200‑amp, 3‑phase power
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
$65,513
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
4.37%
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%
$1,310,260
$1.3M
Cap Rate 7%
$935,900
$935.9K
Cap Rate 9%
$727,922
$727.9K
Market Conditions
NOI Build-Up for 8,577 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
$87.5K $10.20/SF
− Vacancy
−$10.4K −$1.21/SF
EGI
$77.1K $8.99/SF
− OpEx
−$11.6K −$1.35/SF
NOI
$65.5K $7.64/SF
Area
Phoenix, AZ
Vacancy
11.90%
Lease Rate
$10.20 /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%
$1,310,260
Cap Rate 7%
$935,900
Cap Rate 9%
$727,922
Alternative Uses
Best Use
Warehouse
$935.9K
$818.9K – $1.09M
NOI $65,513 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.60M
$2.27M – $3.03M
NOI $181,863 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
3
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85019, AZ
27,677
Population
8,127
Households
3.4
Avg Household Size
29
Median Age
11%
College-Educated
67%
High-School Grad
3.7 sq mi
ZIP Area
7,480
Density / Sq Mi
$58,767
Median Household Income
$34,354
Median Earnings
$1,342
Median Rent
$255,700
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Light industrial warehouse offering 12–16’ clear height, three 10’ x 11’ grade-level doors, and three-phase power.
Where is this warehouse located?
The property is located at 4009 N 39th 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: Light industrial building built in 1958 with 8,577 SF on a 16,000 SF lot (APN: 107‑33‑016C); 12’–16’ clear height with three 10’ x 11’ grade‑level GL doors; 1200‑amp, 3‑phase power
