Office/Flex Warehouse with
For Sale
Contact for pricing
420 S Smith Rd., Tempe, AZ 85288
Freestanding office and warehouse flex building 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 Market27
Property Features for 420 S Smith Rd.
General Information
Standard status
Active
Size
16,843 SF
Lot size
1.13 Acres
Property subtype
Office, Industrial
Occupancy
100%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Amenities
outdoor patio/seating area
covered parking
Building Details
Year Built
1999
Tenancy
Single
Listing Agency:
The Menlo Group Commercial Real Estate LLC
(480) 469-6008
Listed By:
Tom Ellixson · License #AZ SA672216000
Source:
Crexi
Added: Jul 6
Changed: Jul 23
Last Checked: Jul 23 at 3:26AM
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 The Menlo Group Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This freestanding office/flex property includes office space and warehouse space with a roll-up garage door. The building also offers an outdoor patio/seating area and sits on a secured 1.13-acre lot with covered parking.
The property is positioned for convenient access to Arizona State University, Downtown Tempe, Phoenix Sky Harbor, and major thoroughfares including Loop 101, Loop 202, SR-143, US-60, and I-10.
The property is 100% leased to Pavion under an NNN lease, with term remaining through August 28, 2029, and 3% annual rent increases.
The property is positioned for convenient access to Arizona State University, Downtown Tempe, Phoenix Sky Harbor, and major thoroughfares including Loop 101, Loop 202, SR-143, US-60, and I-10.
The property is 100% leased to Pavion under an NNN lease, with term remaining through August 28, 2029, and 3% annual rent increases.
Key Highlights
- Freestanding office/flex building (1999) with office space and a warehouse with roll‑up garage door
- 100% leased to Pavion under an NNN lease with term remaining through August 28, 2029
- 3% annual rent increases under the existing lease
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 authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding office and warehouse flex building 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 (1999) with office space and a warehouse with roll‑up garage door; 100% leased to Pavion under an NNN lease with term remaining through August 28, 2029; 3% annual rent increases under the existing lease
