Three-Suite Flex
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For Sale
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4217 E Cotton Center Blvd, Phoenix, AZ 85040
Flex property with existing R&D and life science occupancy, freeway connectivity, and proximity to Sky Harbor International Airport.
Property Size88,140 SF
Price / SF$177.44
Days on Market4
Property Features for 4217 E Cotton Center Blvd
General Information
Standard status
Active
Size
88,140 SF
Property subtype
Industrial
Occupancy
69%
Additional Details
Highway Access
Yes
Listing Agency:
Kidder Mathews
Listed By:
Nathan Thinnes · License #SA530037000
(602) 550-5671
Source:
Crexi
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 9 at 4:30PM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
The 4217 E Cotton Center Blvd property offers approximately 88,140 square feet of flex space within The Cotton Center in Phoenix. The building is divided into three suites and is currently 69% leased, with existing R&D and life science occupancy supported by a 4.2-year WALT.
The property provides freeway access and is located near Sky Harbor International Airport. It is being offered through a receivership sale, with the potential to combine it with 4207 E Cotton Center.
The property provides freeway access and is located near Sky Harbor International Airport. It is being offered through a receivership sale, with the potential to combine it with 4207 E Cotton Center.
Key Highlights
- Approximately 88,140 SF of flex space
- Three‑suite configuration within The Cotton Center
- Currently 69% leased
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
$967,989
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
6.19%
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%
$19,359,780
$19.4M
Cap Rate 7%
$13,828,414
$13.8M
Cap Rate 9%
$10,755,433
$10.8M
Market Conditions
NOI Build-Up for 88,140 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
$1.69M $19.20/SF
− Vacancy
−$203.1K −$2.30/SF
EGI
$1.49M $16.90/SF
− OpEx
−$521.2K −$5.91/SF
NOI
$968.0K $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%
$19,359,780
Cap Rate 7%
$13,828,414
Cap Rate 9%
$10,755,433
Alternative Uses
Best Use
Flex RnD
$13.83M
$12.10M – $16.13M
NOI $967,989 @ 7.0% cap · market cap 6.19%
Second Best
Industrial
$7.92M
$6.93M – $9.24M
NOI $554,431 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$26.70M
$23.36M – $31.15M
NOI $1,868,885 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
69%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,234
Businesses Nearby
Under-served
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Phoenix, AZ
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property with existing R&D and life science occupancy, freeway connectivity, and proximity to Sky Harbor International Airport.
Where is this flex space located?
The property is located at 4217 E Cotton Center Blvd Phoenix, AZ.
What is the asking price?
The asking price for this property is $15,640,000.
What are key features of this property?
This property features: Approximately 88,140 SF of flex space; Three‑suite configuration within The Cotton Center; Currently 69% leased
