21825 16Th St Phoenix, AZ 85024

This exceptional Phoenix industrial property, located at 21825 N 16th St, 85024, offers a compelling investment opportunity. The 2.5-acre lot encompasses two buildings totaling 8,000 square feet of versatile flex space, ideal for manufacturing or warehouse use. The property features a 10-foot ceiling height and is zoned A-1. Built in 1995, the Class B complex includes 14 units, offering diversified rental income streams. Six separate yards provide ample outdoor storage. The property boasts a strong NOI of $162,000, resulting in a 5.40% cap rate. The asking price is $3,000,000, translating to $375 per square foot and $27.57 per square foot for the land. Previous use as a custom cabinet shop highlights the space's adaptability. The property includes air-conditioned offices and evaporative coolers in the shop area, along with a phase converter. The convenient location offers easy freeway access and proximity to Deer Valley, north of the 101 freeway, east of 7th Street, and west of Cave Creek Road. Owner financing is available with a 10% down payment, a 7% interest rate for up to a 30-year term, and a 7-year prepayment period with decreasing interest rates. This fee-simple ownership presents a rare opportunity for owner-users or investors seeking a strong return. The property's multi-tenant structure provides a diversified income stream, further enhancing its investment appeal.