For Sale
$1,650,000
6948 W Chandler Boulevard Unit 2, Chandler, AZ 85226
Flex space
Property Size5,580 SF
Price / SF$295.70
Days on Market110
Property Features for 6948 W Chandler Boulevard Unit 2
General Information
Standard status
Active
Size
5,580 SF
Property subtype
COMMERCIAL
Zoning
I-1
Taxes and HOA fees
Annual Taxes
$8,111
Building Details
Building Size
5,580 SF
Year Built
2008
Listing Agency:
City To City Commercial
(480) 773-1227
Listed By:
Shane Benjamin
(480) 773-1227
Source:
Gillettegroupaz
Added: May 7
Changed: Aug 23
Last Checked: Aug 21 at 9:30AM
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 City To City Commercial
Investment Insights
Based on property information with market context.
Key Highlights
- 5,580 SF industrial suite built in 2008
- Zoned I‑1 for industrial or retail use
- Suites in Chandler, AZ within a thriving industrial area
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
$56,146
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
3.40%
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%
$1,122,920
$1.1M
Cap Rate 7%
$802,086
$802.1K
Cap Rate 9%
$623,844
$623.8K
Market Conditions
NOI Build-Up for 5,580 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
$100.4K $18.00/SF
− Vacancy
−$14.1K −$2.52/SF
EGI
$86.4K $15.48/SF
− OpEx
−$30.2K −$5.42/SF
NOI
$56.1K $10.06/SF
Area
Chandler, AZ
Vacancy
14.00%
Lease Rate
$18.00 /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%
$1,122,920
Cap Rate 7%
$802,086
Cap Rate 9%
$623,844
Alternative Uses
Best Use
Flex RnD
$802.1K
$701.8K – $935.8K
NOI $56,146 @ 7.0% cap · market cap 3.40%
Second Best
Industrial
$638.4K
$558.6K – $744.8K
NOI $44,685 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $111,957 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85226, AZ
40,689
Population
17,406
Households
2.3
Avg Household Size
38
Median Age
50%
College-Educated
96%
High-School Grad
38.4 sq mi
ZIP Area
1,060
Density / Sq Mi
$103,740
Median Household Income
$58,515
Median Earnings
$1,785
Median Rent
$452,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Picnic Specialties — 7304 W Chicago St Ste. 101, Chandler, AZ 85226
Frequently Asked Questions
Where is this flex space located?
The property is located at 6948 W Chandler Boulevard Unit 2 Chandler, AZ.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 5,580 SF industrial suite built in 2008; Zoned I‑1 for industrial or retail use; Suites in Chandler, AZ within a thriving industrial area
