Warehouse and Spec Office
For Sale
Contact for pricing
8804 N 23rd Ave, Phoenix, AZ 85021
Industrial facility offering warehouse/manufacturing space alongside a spec office for flexible business operations.
Property Size43,586 SF
Price / SF$244.34
Days on Market141
Property Features for 8804 N 23rd Ave
General Information
Standard status
Active
Size
43,586 SF
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
North Mountain
Listing Agency:
CBRE | Phoenix
(602) 735-5555
Listed By:
Charles Miscio
(602) 735-1735
Source:
Moodyscre
Added: Jun 10
Changed: Jul 10
Last Checked: Oct 26 at 7:27PM
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 CBRE | Phoenix
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is available for sale with approximately 43,586 total square feet, including a 5,654-square-foot spec office and 37,932 square feet of warehouse/manufacturing space. In addition to the building area, there is also a vacant storage yard available (2423 W Townley Ave), totaling approximately 11.34 square feet.
The offering combines office and industrial space in one package, supported by the availability of an additional storage yard. The presence of both functional components can help streamline site operations by keeping administrative space on-site while reserving building and yard areas for day-to-day needs.
For tenants or buyers seeking a mixed-use industrial setup, the spec office provides room for administrative functions, while the warehouse/manufacturing portion supports operations requiring substantial interior area. The separately available storage yard may also be useful for additional material staging or storage, depending on the buyer’s or operator’s workflow.
The offering combines office and industrial space in one package, supported by the availability of an additional storage yard. The presence of both functional components can help streamline site operations by keeping administrative space on-site while reserving building and yard areas for day-to-day needs.
For tenants or buyers seeking a mixed-use industrial setup, the spec office provides room for administrative functions, while the warehouse/manufacturing portion supports operations requiring substantial interior area. The separately available storage yard may also be useful for additional material staging or storage, depending on the buyer’s or operator’s workflow.
Key Highlights
- ±43,586 SF available industrial facility with warehouse/manufacturing and office space
- Includes ±5,654 SF spec office
- Includes ±37,932 SF warehouse/manufacturing space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$478,679
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,573,580
$9.6M
Cap Rate 7%
$6,838,271
$6.8M
Cap Rate 9%
$5,318,656
$5.3M
Market Conditions
NOI Build-Up for 43,586 SF
Gross rent
$836.9K $19.20/SF
− Vacancy
−$100.4K −$2.30/SF
EGI
$736.4K $16.90/SF
− OpEx
−$257.8K −$5.91/SF
NOI
$478.7K $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 Rate 5%
$9,573,580
Cap Rate 7%
$6,838,271
Cap Rate 9%
$5,318,656
Alternative Uses
Best Use
Flex RnD
$6.84M
$5.98M – $7.98M
NOI $478,679 @ 7.0% cap · market cap 4.49%
Second Best
Warehouse
$4.76M
$4.16M – $5.55M
NOI $332,922 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$13.20M
$11.55M – $15.40M
NOI $924,180 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,261
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Phoenix, AZ
Similar Off Market Nearby
- Colossal Crab Catering — 8155 N Black Cyn Hwy #37741, Phoenix, AZ 85069
- Carmen's AZ Catering — 8433 N Black Cyn Hwy Suite #136-A, Phoenix, AZ 85021
Frequently Asked Questions
What type of property is this?
Flex space - Industrial facility offering warehouse/manufacturing space alongside a spec office for flexible business operations.
Where is this flex space located?
The property is located at 8804 N 23rd Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $10,650,000.
What are key features of this property?
This property features: ±43,586 SF available industrial facility with warehouse/manufacturing and office space; Includes ±5,654 SF spec office; Includes ±37,932 SF warehouse/manufacturing space
