Freestanding Office Flex
420 S Smith Rd Tempe, AZ 85281
420 S Smith Rd, Tempe, AZ, 85281
Contact for pricing
For Sale
Contact for pricing
Freestanding office and warehouse space with a roll-up door, outdoor patio, and secured covered parking on 1.13 acres.
Property Size16,843 SF
Lot Size1.13 Acres
Price / SF$265.45
Days on Market36
Property Features for 420 S Smith Rd
General Information
- Standard status
- Active
- Size
- 16,843 SF
- Lot size
- 1.13 Acres
- Property subtype
- INDUSTRIAL
Listing agency
Menlo Group Commercial Real Estate
(480) 469-6008
Listed by
Tom Ellixson · License #BR584594000
(480) 469-6008
Source
Moodyscre
Added: Jun 17 Updated: Jul 22 at 11:52AM Checked: Jul 22 at 11:52AM
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 Menlo Group Commercial Real Estate
Investment Insights
Based on property information with market context.
The property is a freestanding office/flex building combining office space and warehouse space, with a roll-up garage door for the warehouse component. It also includes an outdoor patio/seating area and a secured 1.13-acre lot with covered parking.
The site is positioned for convenient access to Arizona State University, Downtown Tempe, Phoenix Sky Harbor, Loop 101, Loop 202, SR-143, US-60, and I-10.
The property is 100% leased to Pavion under a NNN lease, with the current term remaining through August 28, 2029, and 3% annual rent increases.
The site is positioned for convenient access to Arizona State University, Downtown Tempe, Phoenix Sky Harbor, Loop 101, Loop 202, SR-143, US-60, and I-10.
The property is 100% leased to Pavion under a NNN lease, with the current term remaining through August 28, 2029, and 3% annual rent increases.
Key Highlights
- Freestanding office/flex building with office space and warehouse area featuring a roll‑up garage door
- Outdoor patio/seating area plus covered, secured parking on a 1.13‑acre lot
- 100% leased to Pavion under an NNN lease
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $511.4k | $30.36 |
| − Vacancy | −$109.9k | −$6.53 |
| EGI | $401.4k | $23.83 |
| − OpEx | −$100.4k | −$5.96 |
| NOI | $301.1k | $17.87 |
16,843 SF · lease $30.36/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.30M
$3.76M – $5.02M
NOI $301,059 @ 7.0% cap · market cap 6.73%
Second Best
Warehouse
$2.66M
$2.33M – $3.10M
NOI $186,109 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$5.30M
$4.63M – $6.18M
NOI $370,755 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Elite Force IT
Tech Support Center
ECD Systems, LLC
Corporate Office
CenterGate Research Group
Consultant
Sell Quick For Cash
Real Estate Agency
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FAQs
What type of property is this?
Flex space - Freestanding office and warehouse space with a roll-up door, outdoor patio, and secured covered parking on 1.13 acres.
Where is this flex space located?
The property is located at 420 S Smith Rd Tempe, AZ.
What is the asking price?
The asking price for this property is $4,471,000.
What are key features of this property?
This property features: Freestanding office/flex building with office space and warehouse area featuring a roll‑up garage door; Outdoor patio/seating area plus covered, secured parking on a 1.13‑acre lot; 100% leased to Pavion under an NNN lease
