Building Details

Building Size 3,240 SF

Listing Agency: Rein & Grossoehme Show Phone

Listed By: Max Schumacher Show Phone

Source: Moodyscre

Added: May 16, 2025 Changed: Oct 3 Last Checked: Oct 16 at 9:16AM

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Investment Insights

Based on property information with market context.

This flex-space property combines warehouse and office functionality within a 3,240-square-foot building. The site encompasses approximately 0.48 acres, or 20,957 square feet, and includes frontage along Buckeye Road.

The property is positioned in central Phoenix, less than 2.5 miles from Phoenix Sky Harbor and less than 2 miles from I-17 and I-10. US-60 and SR-51 are also accessible from the site, providing connections throughout the metropolitan area.

Key Highlights

• 3,240 SF warehouse/office building
• Approximately 0.48 AC (20,957 SF)
• Frontage on Buckeye Rd

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,465

Cap Rate

3.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,109,300 $1.1M

Cap Rate 7%

$792,357 $792.4K

Cap Rate 9%

$616,278 $616.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,240 SF

Gross rent

$99.5K $30.72/SF

− Vacancy

−$25.6K −$7.90/SF

EGI

$74.0K $22.82/SF

− OpEx

−$18.5K −$5.71/SF

NOI

$55.5K $17.12/SF

Area

Phoenix, AZ

Vacancy

25.70%

Lease Rate

$30.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,109,300

Cap Rate 7%

$792,357

Cap Rate 9%

$616,278

Alternative Uses

Best Use

Office B

$792.4K

$693.3K – $924.4K (±1% cap)

NOI $55,465 @ 7.0% cap · market cap 3.00%

Second Best

Flex RnD

$508.3K

$444.8K – $593.1K (±1% cap)

NOI $35,583 @ 7.0% cap · market cap 1.92%

Theoretical Best

Office A

$981.4K

$858.8K – $1.15M (±1% cap)

NOI $68,700 @ 7.0% cap · market cap 3.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Pharmacy Dental Office (Bike/Boat/Book/etc) Store Nail Salon Locksmith Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

706

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 85034, AZ

5,033

Population

2,901

Households

1.7

Avg Household Size

32

Median Age

32%

College-Educated

81%

High-School Grad

11.6 sq mi

ZIP Area

434

Density / Sq Mi

$53,545

Median Household Income

$43,236

Median Earnings

$1,205

Median Rent

$397,400

Median Home Value

Market

Vacancy Rate% for Office in Phoenix, AZ

14.4% 2019

19.3% 2020

21.7% 2021

24.3% 2022

27.4% 2023

28.5% 2024

26.5% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Versatile commercial building with frontage along Buckeye Road and convenient access to major Phoenix transportation routes.

Where is this flex space located?

The property is located at 917 E Buckeye Rd Phoenix, AZ.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: 3,240 SF warehouse/office building; Approximately 0.48 AC (20,957 SF); Frontage on Buckeye Rd