Air-Conditioned Industrial
For Sale
Contact for pricing
4224 W Indian School Rd., Phoenix, AZ 85019
Air-conditioned industrial warehouse on 3.81 acres with yard access, 16-foot clear height, and four drive-in doors.
Property Size45,000 SF
Lot Size3.81 Acres
Price / SF$216.67
Days on Market58
Property Features for 4224 W Indian School Rd.
General Information
Standard status
Active
Size
45,000 SF
Total Parking Spaces
175
Lot size
3.81 Acres
Property subtype
Retail, Industrial, Mixed Use
Zoning
A-2/C-3, Phoenix
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
4
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Year Renovated
2022
Buildings
1
Building Size
45,000 SF
Listing Agency:
DAUM Commercial Real Estate Services Phoenix
Listed By:
Carter Wilson, SIOR, CCIM · License #AZ BR663255000
(480) 225-1992
Source:
Crexi
Added: Jul 18
Changed: Aug 28
Last Checked: Sep 13 at 7:31AM
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 DAUM Commercial Real Estate Services Phoenix
Investment Insights
Based on property information with market context.
This air-conditioned industrial warehouse at 4224 W. Indian School Rd. offers approximately 45,000 square feet of industrial space on approximately 3.81 acres of land. The building features wrap-around access and yard, a 16' clear height, and four drive-in doors. With 175 surface parking spaces, the property is designed to support day-to-day distribution and logistics operations. The facility was built in 1984 and is zoned A-2/C-3.
The property is located in Phoenix, Arizona, and is in close proximity to the 60 Freeway.
Key onsite attributes include full air conditioning, yard-style layout with wrap-around access, and ample surface parking to accommodate crews, deliveries, and customer or vendor vehicles.
The property is located in Phoenix, Arizona, and is in close proximity to the 60 Freeway.
Key onsite attributes include full air conditioning, yard-style layout with wrap-around access, and ample surface parking to accommodate crews, deliveries, and customer or vendor vehicles.
Key Highlights
- Approximately 45,000 SF air‑conditioned industrial space
- Approximately 3.81 acres with wrap‑around access and yard
- 16' clear height for warehouse operations
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
$343,722
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
3.53%
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%
$6,874,440
$6.9M
Cap Rate 7%
$4,910,314
$4.9M
Cap Rate 9%
$3,819,133
$3.8M
Market Conditions
NOI Build-Up for 45,000 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
$459.0K $10.20/SF
− Vacancy
−$54.6K −$1.21/SF
EGI
$404.4K $8.99/SF
− OpEx
−$60.7K −$1.35/SF
NOI
$343.7K $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%
$6,874,440
Cap Rate 7%
$4,910,314
Cap Rate 9%
$3,819,133
Alternative Uses
Best Use
Warehouse
$4.91M
$4.30M – $5.73M
NOI $343,722 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.63M
$11.93M – $15.90M
NOI $954,162 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
4
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
976
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 - Air-conditioned industrial warehouse on 3.81 acres with yard access, 16-foot clear height, and four drive-in doors.
Where is this warehouse located?
The property is located at 4224 W Indian School Rd. Phoenix, AZ.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: Approximately 45,000 SF air‑conditioned industrial space; Approximately 3.81 acres with wrap‑around access and yard; 16' clear height for warehouse operations
