Flex Industrial
For Sale
$815,000
9299 West Olive Avenue Suite 512, Peoria, AZ 85345
Built in 2006 flex industrial condo, zoned BPI, offered for sale in West Phoenix.
Property Size3,105 SF
Price / SF$262.48
Days on Market50
Property Features for 9299 West Olive Avenue Suite 512
General Information
Standard status
Active
Size
3,105 SF
Property subtype
Industrial
Zoning
BPI
Building Details
Building Size
3,105 SF
Year Built
2006
Listing Agency:
Commercial Properties Inc
(480) 330-8897
Listed By:
Phill Tomlinson · License #BR528671000
(480) 330-8897
Source:
Corfac
Added: Jun 23
Changed: Aug 9
Last Checked: Jun 24 at 2:26AM
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 Commercial Properties Inc
Investment Insights
Based on property information with market context.
This flex industrial condo offers 3,105 SF of space in a building constructed in 2006. The property is presented as an individual condo unit (Suite 512), providing a straightforward, self-contained option for an owner-occupant or investor looking for a smaller industrial format.
Located at 9299 West Olive Avenue in Peoria, Arizona, the property is identified as being zoned BPI under the City of Peoria. The listing is described as part of a West Phoenix location.
As flex/industrial space, the condo format can work well for businesses that need a combination of functional warehouse and workplace space within a defined unit. Prospective buyers should confirm specific permitted uses and any condo association requirements with the City of Peoria and the governing documents for Suite 512. Offered for sale at a condo scale, it may appeal to operators seeking a manageable footprint in the West Phoenix area.
Located at 9299 West Olive Avenue in Peoria, Arizona, the property is identified as being zoned BPI under the City of Peoria. The listing is described as part of a West Phoenix location.
As flex/industrial space, the condo format can work well for businesses that need a combination of functional warehouse and workplace space within a defined unit. Prospective buyers should confirm specific permitted uses and any condo association requirements with the City of Peoria and the governing documents for Suite 512. Offered for sale at a condo scale, it may appeal to operators seeking a manageable footprint in the West Phoenix area.
Key Highlights
- 3,105 SF flex industrial condo built in 2006
- Zoned BPI (City of Peoria)
- Flex industrial condo available for sale in West Phoenix
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
$24,927
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
3.06%
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%
$498,540
$498.5K
Cap Rate 7%
$356,100
$356.1K
Cap Rate 9%
$276,967
$277.0K
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
$42.8K $13.80/SF
− Vacancy
−$4.5K −$1.45/SF
EGI
$38.3K $12.35/SF
− OpEx
−$13.4K −$4.32/SF
NOI
$24.9K $8.03/SF
Area
Peoria, AZ
Vacancy
10.50%
Lease Rate
$13.80 /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%
$498,540
Cap Rate 7%
$356,100
Cap Rate 9%
$276,967
Alternative Uses
Best Use
Flex RnD
$356.1K
$311.6K – $415.5K
NOI $24,927 @ 7.0% cap · market cap 3.06%
Second Best
Industrial
$349.1K
$305.5K – $407.3K
NOI $24,440 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,513 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Industrial 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 - Built in 2006 flex industrial condo, zoned BPI, offered for sale in West Phoenix.
Where is this flex space located?
The property is located at 9299 West Olive Avenue Suite 512 Peoria, AZ.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 3,105 SF flex industrial condo built in 2006; Zoned BPI (City of Peoria); Flex industrial condo available for sale in West Phoenix
