Listing Agency: Basis Commercial

Listed By: Nick DePaul · License #BR692351000

Source: Crexi

Added: Mar 24 Changed: Oct 9 Last Checked: Oct 16 at 8:05AM

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Investment Insights

Based on property information with market context.

This freestanding flex property includes approximately 14,859 SF of building area on a ±1.50-acre site. The facility provides 20-foot clear height, two grade-level doors, multiple access points, and on-site parking. Its layout can support either a single occupant or multiple tenants, subject to applicable requirements.

Located at 4247 W Adams St in Phoenix, the property has frontage along 43rd Avenue and access to major freeway corridors. The site is zoned A-2, identified in the source information as heavy industrial, and offers a functional configuration for industrial or flex operations.

Key Highlights

• ±14,859 SF freestanding flex building
• ±1.50‑acre site with A‑2 zoning
• 20’ clear height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$163,187

Cap Rate

4.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,263,740 $3.3M

Cap Rate 7%

$2,331,243 $2.3M

Cap Rate 9%

$1,813,189 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,859 SF

Gross rent

$285.3K $19.20/SF

− Vacancy

−$34.2K −$2.30/SF

EGI

$251.1K $16.90/SF

− OpEx

−$87.9K −$5.91/SF

NOI

$163.2K $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 Rate 5%

$3,263,740

Cap Rate 7%

$2,331,243

Cap Rate 9%

$1,813,189

Alternative Uses

Best Use

Flex RnD

$2.33M

$2.04M – $2.72M (±1% cap)

NOI $163,187 @ 7.0% cap · market cap 4.66%

Second Best

Warehouse

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,497 @ 7.0% cap · market cap 3.24%

Theoretical Best

Office A

$4.50M

$3.94M – $5.25M (±1% cap)

NOI $315,064 @ 7.0% cap · market cap 9.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Arizona Petroleum Products Factory

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Nail Salon Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

456

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 85009, AZ

50,439

Population

14,873

Households

3.4

Avg Household Size

31

Median Age

7%

College-Educated

59%

High-School Grad

14.7 sq mi

ZIP Area

3,431

Density / Sq Mi

$51,615

Median Household Income

$29,674

Median Earnings

$1,128

Median Rent

$215,300

Median Home Value

Market

Vacancy Rate% for Industrial in Phoenix, AZ

6.8% 2019

8.1% 2020

5% 2021

4.4% 2022

8.9% 2023

12.2% 2024

12.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A-2-zoned property supports single- or multi-tenant industrial occupancy.

Where is this flex space located?

The property is located at 4247 W Adams St Phoenix, AZ.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: ±14,859 SF freestanding flex building; ±1.50‑acre site with A‑2 zoning; 20’ clear height