Flex Space with Grade Level
For Sale
$950,000
6016 N 57th Ave, Glendale, AZ 85301
Flex space with an office, restroom, paint booth, and secured gated yard plus three grade level doors.
Property Size2,954 SF
Price / SF$321.60
Days on Market175
Property Features for 6016 N 57th Ave
General Information
Standard status
Active
Size
2,954 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Drive-In Doors
3
Three-Phase Power
Yes
Building Details
Year Built
1988
Listing Agency:
West USA Realty
Listed By:
Marco Zazueta · License #SA565538000
(602) 942-4200
Source:
Greaterphoenixhomelistings
Added: Mar 25
Changed: Sep 9
Last Checked: Sep 14 at 12:33PM
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 West USA Realty
Investment Insights
Based on property information with market context.
This flex space includes a reception area, one office, and one restroom, along with dry storage and a kitchenette. Warehouse features include HVAC in the office area and a swamp cooler in the warehouse, plus a paint booth. The facility is served by three 10' x 12' grade level doors, with 3-phase power available for equipment needs.
On-site storage and staging are supported by two cargo containers, one storage shed structure, and a canopy area. The yard is secured and gated, providing controlled access for equipment, materials, or day-to-day operations.
With approximately 2,945 SF of space, the layout supports light industrial and service-oriented uses where both office functionality and warehouse storage are needed.
On-site storage and staging are supported by two cargo containers, one storage shed structure, and a canopy area. The yard is secured and gated, providing controlled access for equipment, materials, or day-to-day operations.
With approximately 2,945 SF of space, the layout supports light industrial and service-oriented uses where both office functionality and warehouse storage are needed.
Key Highlights
- Approximately 2,945 SF flex space with reception, office, restroom, dry storage, and kitchenette
- Three 10' x 12' grade level doors for loading and warehouse access
- Paint booth plus canopy area for work‑in‑place capabilities
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
$37,119
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
3.91%
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%
$742,380
$742.4K
Cap Rate 7%
$530,271
$530.3K
Cap Rate 9%
$412,433
$412.4K
Market Conditions
NOI Build-Up for 2,954 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
$63.8K $21.60/SF
− Vacancy
−$6.7K −$2.27/SF
EGI
$57.1K $19.33/SF
− OpEx
−$20.0K −$6.77/SF
NOI
$37.1K $12.57/SF
Area
Glendale, AZ
Vacancy
10.50%
Lease Rate
$21.60 /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%
$742,380
Cap Rate 7%
$530,271
Cap Rate 9%
$412,433
Alternative Uses
Best Use
Flex RnD
$530.3K
$464.0K – $618.7K
NOI $37,119 @ 7.0% cap · market cap 3.91%
Second Best
Warehouse
$403.3K
$352.9K – $470.6K
NOI $28,234 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$927.9K
$811.9K – $1.08M
NOI $64,952 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with an office, restroom, paint booth, and secured gated yard plus three grade level doors.
Where is this flex space located?
The property is located at 6016 N 57th Ave Glendale, AZ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 2,945 SF flex space with reception, office, restroom, dry storage, and kitchenette; Three 10' x 12' grade level doors for loading and warehouse access; Paint booth plus canopy area for work‑in‑place capabilities
