Turnkey Renovated Flex
For Sale
$2,399,000
4505 E BROADWAY Road, Phoenix, AZ 85040
Fully renovated flex building with office and warehouse space, 18-foot ceilings, and a street-facing garage door.
Property Size7,512 SF
Days on Market175
Property Features for 4505 E BROADWAY Road
General Information
Standard status
Active
Size
7,512 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$10,338
Building Details
Building Size
7,512 SF
Year Built
2006
Listing Agency:
Jamal Abdallah
Listed By:
Omar Abdallah · License #SA644708000
(480) 370-9414
Source:
Jcluxuryresidential
Added: Mar 18
Changed: Sep 7
Last Checked: Sep 7 at 6:10AM
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 Jamal Abdallah
Investment Insights
Based on property information with market context.
This fully renovated flex workspace was completed in 2024 with more than $250,000 invested and features premium Roman Clay finishes throughout. The property provides approximately 5,000 SF of office space and 2,000 SF of warehouse, with a flexible interior layout designed to support a variety of business needs. The office includes seven large private offices (each sized for 2–4 desks), three bullpen areas, and a modular studio that can be configured as a conference room, additional bullpen, or event space. Additional improvements include two breakrooms and two bathrooms, along with abundant natural light.
The warehouse component offers 18' ceilings, a garage door, and flexible buildout, supporting practical day-to-day operations. The building is street-facing with strong signage, EV chargers, and optional FF&E, offering a plug-and-play setup for an incoming user.
Located at 4505 E Broadway Road in Phoenix, this modern office/warehouse combination is positioned for businesses seeking an immediately usable space with both work and storage capabilities.
The warehouse component offers 18' ceilings, a garage door, and flexible buildout, supporting practical day-to-day operations. The building is street-facing with strong signage, EV chargers, and optional FF&E, offering a plug-and-play setup for an incoming user.
Located at 4505 E Broadway Road in Phoenix, this modern office/warehouse combination is positioned for businesses seeking an immediately usable space with both work and storage capabilities.
Key Highlights
- Fully renovated in 2024 with over $250K invested (Year built 2006)
- ~5,000 SF office space with 7 large private offices (2–4 desks each), plus 3 bullpen areas
- Modular studio that can convert to a conference room, bullpen, or event space
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
$82,500
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
3.44%
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%
$1,650,000
$1.7M
Cap Rate 7%
$1,178,571
$1.2M
Cap Rate 9%
$916,667
$916.7K
Market Conditions
NOI Build-Up for 7,512 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
$144.2K $19.20/SF
− Vacancy
−$17.3K −$2.30/SF
EGI
$126.9K $16.90/SF
− OpEx
−$44.4K −$5.91/SF
NOI
$82.5K $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%
$1,650,000
Cap Rate 7%
$1,178,571
Cap Rate 9%
$916,667
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.03M – $1.38M
NOI $82,500 @ 7.0% cap · market cap 3.44%
Second Best
Warehouse
$819.7K
$717.2K – $956.3K
NOI $57,379 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$2.28M
$1.99M – $2.65M
NOI $159,281 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Well-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
Market
Vacancy Rate% for Industrial in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chef John's, LLC — 2207 S 48th St, Tempe, AZ 85282
- AZ School Meals — 1235 S 48th St #4, Tempe, AZ 85281
- AZ Inspirations Catering — 2400 W Medtronic Way #2, Tempe, AZ 85281
- Arizona Party Wizards — 2400 W Medtronic Way # 2, Tempe, AZ 85281
Frequently Asked Questions
What type of property is this?
Flex space - Fully renovated flex building with office and warehouse space, 18-foot ceilings, and a street-facing garage door.
Where is this flex space located?
The property is located at 4505 E BROADWAY Road Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Fully renovated in 2024 with over $250K invested (Year built 2006); ~5,000 SF office space with 7 large private offices (2–4 desks each), plus 3 bullpen areas; Modular studio that can convert to a conference room, bullpen, or event space
