Flex Space with Secure
For Sale
$650,000
6018 W Glendale Avenue, Glendale, AZ 85301
Multi-unit flex property with two leased units and a vacant suite ready for quick service or cafe use.
Property Size2,934 SF
Days on Market78
Property Features for 6018 W Glendale Avenue
General Information
Standard status
Active
Size
2,934 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$4,487
Building Details
Building Size
2,934 SF
Year Built
1980
Listing Agency:
Arizona International Real Estate
Listed By:
Lisa McNealy
(480) 544-7606
Source:
Jcluxuryresidential
Added: Jun 24
Changed: Sep 8
Last Checked: Sep 9 at 6:14AM
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 Arizona International Real Estate
Investment Insights
Based on property information with market context.
This flex space property includes three unit addresses, with two currently leased and one vacant suite ready for a new quick service, to-go, or small cafe user. The vacant space is approximately 800 square feet and can also be gutted and reconfigured into open office or flex space if needed. The front building has a roof less than one year old, and the HVAC is newer.
A secure yard is located at the rear of the property and is being leased by the existing auto repair tenant. The location is described as having close to 25,000 vehicles per day passing by.
For additional financial information, an NDA is required.
A secure yard is located at the rear of the property and is being leased by the existing auto repair tenant. The location is described as having close to 25,000 vehicles per day passing by.
For additional financial information, an NDA is required.
Key Highlights
- Multi‑unit flex property with 3 units/addresses; 2 units currently leased and 1 vacant (~800 sq ft)
- Vacant suite (~800 sq ft) is ready for quick service, to‑go, or small cafe use
- Vacant space could be gutted and converted to open office/flex space if needed
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
$36,868
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
5.67%
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%
$737,360
$737.4K
Cap Rate 7%
$526,686
$526.7K
Cap Rate 9%
$409,644
$409.6K
Market Conditions
NOI Build-Up for 2,934 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
$63.4K $21.60/SF
− Vacancy
−$6.7K −$2.27/SF
EGI
$56.7K $19.33/SF
− OpEx
−$19.9K −$6.77/SF
NOI
$36.9K $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%
$737,360
Cap Rate 7%
$526,686
Cap Rate 9%
$409,644
Alternative Uses
Best Use
Flex RnD
$526.7K
$460.9K – $614.5K
NOI $36,868 @ 7.0% cap · market cap 5.67%
Second Best
Retail
$483.2K
$422.8K – $563.8K
NOI $33,826 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$921.6K
$806.4K – $1.08M
NOI $64,512 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,437
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 - Multi-unit flex property with two leased units and a vacant suite ready for quick service or cafe use.
Where is this flex space located?
The property is located at 6018 W Glendale Avenue Glendale, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Multi‑unit flex property with 3 units/addresses; 2 units currently leased and 1 vacant (~800 sq ft); Vacant suite (~800 sq ft) is ready for quick service, to‑go, or small cafe use; Vacant space could be gutted and converted to open office/flex space if needed
