2727 Grovers Ave Phoenix, AZ 85053-1933

Property Details for 2727 Grovers Ave

Year built

1985

Construction

CONCRETE

Lot size

1.19 lot acres

Property size

14,984 SF

Zone code

IND.PK.

Property type

Warehouses

APN

207-04-235

APU

20704235

Description

This exceptional Phoenix industrial property, located at 2727 W Grovers Ave, offers a compelling investment opportunity. The 22,706-square-foot warehouse sits on a 2.4-acre lot in the desirable Deer Valley submarket of Maricopa County, Arizona, zip code 85053. Built in 1985 and completely renovated in 2024, this single-tenant facility boasts 18-26 feet of clear height, 12 loading positions (8 dock-high and 4 grade-level), and a substantial 1.3-acre secured yard. The efficient floor plan includes approximately 20% upgraded office space and 80% warehouse space, plus a 2,218-square-foot mezzanine office. Currently 100% leased under a Net Lease (NNN) agreement with a strong credit tenant, Metronet, the lease has a remaining term of five years, expiring November 29, 2029, with 3.5% annual rent bumps. The property's Net Operating Income (NOI) is $435,955, resulting in a 5.75% capitalization rate. The asking price is $7,582,000. This property benefits from its strategic location, providing easy access to the I-17 freeway and proximity to the rapidly growing Deer Valley submarket, currently experiencing a 0% vacancy rate for comparable properties. The tenant's recent acquisition by T-Mobile and KKR further strengthens the investment's long-term prospects. This is a rare opportunity to acquire a high-quality, fully leased industrial asset in a prime location with significant growth potential.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.118

Latitude

33.6469

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments