Flex Warehouse with Office
For Sale
Contact for pricing
4511 E Broadway Rd, Phoenix, AZ 85040
Built in 2006, the flex warehouse includes 12 offices, 100% HVAC, and a 14’ clear-height warehouse with skylights.
Property Size7,304 SF
Price / SF$309.42
Days on Market334
Property Features for 4511 E Broadway Rd
General Information
Standard status
Active
Size
7,304 SF
Property subtype
INDUSTRIAL
Occupancy
100%
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Heavy Power
Yes
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Amenities
conference room
kitchenette
skylights
Building Details
Year Built
2006
Tenancy
Single
Listing Agency:
LevRose Commercial Real Estate
(480) 947-0600
Listed By:
Landon McKernan · License #SA690813000
(916) 872-7909
Source:
Moodyscre
Added: Oct 15, 2025
Changed: Sep 7
Last Checked: Sep 13 at 3:57AM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 2006, this flex warehouse features a warehouse area with 16’ clear height, skylights, an epoxy floor, and LED lighting. The office component includes 12 offices, 3 bathrooms, a reception area, a kitchenette, and a conference room. Improvements and systems include fire sprinklers, 100% HVAC, low-E glass, and LED lighting, along with three-quarter HVAC units replaced within the past 12 months. The property also offers one grade-level door measuring 14’ H x 12’ W.
The site is described as being in close proximity to SR143, I-10 Freeways, and Sky Harbor. Parking lot resurfacing has recently been completed.
The property is currently leased: approximately 15,000 SF is noted as leased to the largest cleaning and disinfecting franchisee in the country, and the landlord can terminate the lease with six months’ notice. Power is listed as 400A 277/480V, 3-phase (buyer to confirm).
The site is described as being in close proximity to SR143, I-10 Freeways, and Sky Harbor. Parking lot resurfacing has recently been completed.
The property is currently leased: approximately 15,000 SF is noted as leased to the largest cleaning and disinfecting franchisee in the country, and the landlord can terminate the lease with six months’ notice. Power is listed as 400A 277/480V, 3-phase (buyer to confirm).
Key Highlights
- ±5,000 SF leased to a cleaning and disinfecting franchise; landlord can terminate with 6 months’ notice
- Built in 2006 with a warehouse offering 16’ clear height and skylights
- 100% HVAC plus 3/4 new HVAC units installed within the past 12 months
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
$80,215
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
3.55%
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%
$1,604,300
$1.6M
Cap Rate 7%
$1,145,929
$1.1M
Cap Rate 9%
$891,278
$891.3K
Market Conditions
NOI Build-Up for 7,304 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
$140.2K $19.20/SF
− Vacancy
−$16.8K −$2.30/SF
EGI
$123.4K $16.90/SF
− OpEx
−$43.2K −$5.91/SF
NOI
$80.2K $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 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%
$1,604,300
Cap Rate 7%
$1,145,929
Cap Rate 9%
$891,278
Alternative Uses
Best Use
Flex RnD
$1.15M
$1.00M – $1.34M
NOI $80,215 @ 7.0% cap · market cap 3.55%
Second Best
Warehouse
$797.0K
$697.4K – $929.8K
NOI $55,790 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,871 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
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
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 - Built in 2006, the flex warehouse includes 12 offices, 100% HVAC, and a 14’ clear-height warehouse with skylights.
Where is this flex space located?
The property is located at 4511 E Broadway Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,260,000.
What are key features of this property?
This property features: ±5,000 SF leased to a cleaning and disinfecting franchise; landlord can terminate with 6 months’ notice; Built in 2006 with a warehouse offering 16’ clear height and skylights; 100% HVAC plus 3/4 new HVAC units installed within the past 12 months
