Warehouse Suite with Grade-Level
For Sale
Contact for pricing
9299 West Olive Avenue, Peoria, AZ 85345
A flex-style warehouse suite featuring 21-foot clear height and a private office buildout for owner-users or tenants.
Property Size3,105 SF
Price / SF$273.75
Days on Market56
Property Features for 9299 West Olive Avenue
General Information
Standard status
Active
Size
3,105 SF
Property subtype
Industrial
Zoning
BP1, City of Peoria
Warehouse & Industrial
Clear Height
21 ft
Drive-In Doors
1
Building Details
Year Built
2006
Buildings
1
Stories
1
Units
1
Listing Agency:
Rein & Grossoehme Commercial Real Estate
Listed By:
Max Schumacher, SIOR · License #SA678600000
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Jun 20 at 4:21AM
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 Rein & Grossoehme Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale suite (Suite 503) is a 2006 construction warehouse/office configuration totaling approximately 3,106 square feet. The space offers 21’ clear height and includes one (1) grade-level door measuring 12’ x 14’. Interior improvements include four (4) private offices, a large conference room, and one (1) restroom, with the majority of the layout dedicated to warehouse use.
Located at 9299 W Olive Ave in Peoria, Arizona, the suite is set up for business use that benefits from both storage and light office capacity. The configuration is centered on the warehouse area while providing dedicated office rooms and meeting space.
This property is well-suited for tenants or buyers seeking a warehouse suite with an on-site office component already in place. The combination of high clear height, a functional grade-level door, and multiple private offices supports operations that require space for warehousing plus day-to-day administration or client meetings within the same suite.
Located at 9299 W Olive Ave in Peoria, Arizona, the suite is set up for business use that benefits from both storage and light office capacity. The configuration is centered on the warehouse area while providing dedicated office rooms and meeting space.
This property is well-suited for tenants or buyers seeking a warehouse suite with an on-site office component already in place. The combination of high clear height, a functional grade-level door, and multiple private offices supports operations that require space for warehousing plus day-to-day administration or client meetings within the same suite.
Key Highlights
- 3,106 SF warehouse flex suite built in 2006
- 21' clear height and one (1) grade level door (12' x 14')
- Includes four (4) private offices and a large conference room
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
$46,591
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
5.48%
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%
$931,820
$931.8K
Cap Rate 7%
$665,586
$665.6K
Cap Rate 9%
$517,678
$517.7K
Market Conditions
NOI Build-Up for 3,105 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
$72.7K $23.40/SF
− Vacancy
−$10.5K −$3.39/SF
EGI
$62.1K $20.01/SF
− OpEx
−$15.5K −$5.00/SF
NOI
$46.6K $15.01/SF
Area
Peoria, AZ
Vacancy
14.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
25.00%
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%
$931,820
Cap Rate 7%
$665,586
Cap Rate 9%
$517,678
Alternative Uses
Best Use
Office B
$665.6K
$582.4K – $776.5K
NOI $46,591 @ 7.0% cap · market cap 5.48%
Second Best
Warehouse
$424.0K
$371.0K – $494.6K
NOI $29,677 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,513 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85345, AZ
61,024
Population
24,273
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
4,805
Density / Sq Mi
$64,563
Median Household Income
$40,280
Median Earnings
$1,563
Median Rent
$278,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Good Vibes Smokehouse LLC — 9680 W Northern Ave, Peoria, AZ 85345
Frequently Asked Questions
What type of property is this?
Flex space - A flex-style warehouse suite featuring 21-foot clear height and a private office buildout for owner-users or tenants.
Where is this flex space located?
The property is located at 9299 West Olive Avenue Peoria, AZ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,106 SF warehouse flex suite built in 2006; 21' clear height and one (1) grade level door (12' x 14'); Includes four (4) private offices and a large conference room
