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    Versatile Flex/Industrial Condo for Sale Title is generated by Realmo AI

    9299 West Olive Avenue, Peoria, AZ 85345

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    For Sale
    $800,000

    Flex/industrial condo with warehouse, office space, and exterior entry.

    Type:Industrial
    Property size:
    3,105 SF
    Price / SF:
    $257/SF
    Added:
    May 14, 2026
    Days on Market:
    14
    Last Refresh:
    May 14 at 8:30 pm

    Property Features for 9299 West Olive Avenue

    General Information

    Standard status
    Active
    Size
    3,105 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Jonathan Levy
    Jonathan Levy

    Listing agent Jonathan Levy License #AZ #SA648012000

    Listing office SVN | Desert Commercial Advisors

    Listing date May 14, 2026

    Source Svn

    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 SVN | Desert Commercial Advisors

    HighLights

    • Exterior loaded entry with 101' frontage and ±3,105 SF space.
    • High‑end office space on the second level.
    • BPI Zoning - City of Peoria.
    • Warehouse with 3 private offices and 2 ADA restrooms.
    • 450 Amps - 3 Phase Power.
    • Professionally Managed Association.

    Overview

    This flex/industrial condo in Olive Business Park is available for sale. Unit 205 offers approximately 3,105 square feet of space suitable for industrial, warehouse, and distribution purposes. The property features an exterior loaded entry with 101 frontage. The layout includes a blend of warehouse and office areas, with high-end office space on the second level. The warehouse area includes 3 private offices and 2 ADA restrooms. The property has 450 amps of 3-phase power, and the water heater was replaced in 2024. The majority of the space is air conditioned. There is one 12' x 14' grade level door. Monument signage is available. The property is zoned BPI (City of Peoria). It is in close proximity to Westgate/Tanger Outlets, the future Via Resort, Park West, and Gateway Pavilions retail amenities. The association is professionally managed.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $517.7K
    NOI $46,591 @ 9.00% cap · cautious / downside scenario
    Moderate
    $665.6K
    NOI $46,591 @ 7.00% cap · market / base-case scenario
    Aggressive
    $931.8K
    NOI $46,591 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $72.7k $23.40
    − Vacancy −$10.5k −$3.39
    EGI $62.1k $20.01
    − OpEx −$15.5k −$5.00
    NOI $46.6k $15.01
    3,105 SF · lease $23.40/SF/yr · vacancy 14.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $665.6K
    $582.4K – $776.5K (±1% cap)
    NOI $46,591 @ 7.0% cap · market cap 5.82%
    Second Best
    Warehouse
    $424.0K
    $371.0K – $494.6K (±1% cap)
    NOI $29,677 @ 7.0% cap · market cap 3.71%
    Theoretical Best
    Office A
    $764.5K
    $668.9K – $891.9K (±1% cap)
    NOI $53,513 @ 7.0% cap · market cap 6.69%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Boss Security Screens ... Security Service Air-zona Air Conditioning, ... HVAC Service Phoenix Floor & Design General Contractor Health Insurance Group ... Insurance Agency Riverton Piano Company (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Good Vibes Smokehouse LLC — 9680 W Northern Ave, Peoria, AZ 85345

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.2589597
    Latitude
    33.5650858

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    FAQs

    What type of property is this?
    Flex space - Flex/industrial condo with warehouse, office space, and exterior entry.
    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 $800,000.
    What are key features of this property?
    This property features: Exterior loaded entry with 101' frontage and ±3,105 SF space.; High‑end office space on the second level.; BPI Zoning - City of Peoria.
    (623) 556-6420
    We can help!
    Listing Contact
    Jonathan Levy
    Jonathan Levy
    Real Estate License ID: AZ #SA648012000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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