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2220 W 14th St 13,124 SF Flex Building Tempe, AZ 85281 $3,675,000 ($280.02/SF) 6.10% Cap Rate
Investment Highlights
- Centrally located in Metro Phoenix
- Ample power and 100% AC
- Single Tenant NNN Investment
- Extensively remodeled in 2023
Executive Summary
The subject property was built in 1986 and extensively remodeled
in 2023 with approximately $315,000 in capital towards office
improvements and air conditioning units for the warehouse. It is
located within the established Northwest Tempe Industrial submarket
where there are numerous single and multi-tenant industrial buildings
in a submarket of ±10.5 million sf. The building is close to both the I-10,
I-17 and US-60 freeways and the SR-143 full diamond interchange to
the Loop 202 Red Mountain freeway. The building is attractive and well
maintained. The offices and warehouse are recently renovated. Pacific
Edge Wine & Spirits Inc. is the Tenant with the lease running until April
30, 2028. The lease is based on ±13,124 sf building at a $1.374/sf monthly
NNN escalating at 4% per annum. The subject property is located on
a site of 0.75 acres.
in 2023 with approximately $315,000 in capital towards office
improvements and air conditioning units for the warehouse. It is
located within the established Northwest Tempe Industrial submarket
where there are numerous single and multi-tenant industrial buildings
in a submarket of ±10.5 million sf. The building is close to both the I-10,
I-17 and US-60 freeways and the SR-143 full diamond interchange to
the Loop 202 Red Mountain freeway. The building is attractive and well
maintained. The offices and warehouse are recently renovated. Pacific
Edge Wine & Spirits Inc. is the Tenant with the lease running until April
30, 2028. The lease is based on ±13,124 sf building at a $1.374/sf monthly
NNN escalating at 4% per annum. The subject property is located on
a site of 0.75 acres.
Property Facts In Escrow
| Price | $3,675,000 | Rentable Building Area | 13,124 SF |
| Price Per SF | $280.02 | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built/Renovated | 1986/2021 |
| Cap Rate | 6.10% | Tenancy | Single |
| Property Type | Flex | Parking Ratio | 2.59/1,000 SF |
| Property Subtype | Showroom | Clear Ceiling Height | 14’ |
| Building Class | B | No. Dock-High Doors/Loading | 1 |
| Lot Size | 0.75 AC | No. Drive In / Grade-Level Doors | 2 |
| Zoning | GID - GID General Industrial | ||
| Price | $3,675,000 |
| Price Per SF | $280.02 |
| Sale Type | Investment NNN |
| Cap Rate | 6.10% |
| Property Type | Flex |
| Property Subtype | Showroom |
| Building Class | B |
| Lot Size | 0.75 AC |
| Rentable Building Area | 13,124 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1986/2021 |
| Tenancy | Single |
| Parking Ratio | 2.59/1,000 SF |
| Clear Ceiling Height | 14’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | GID - GID General Industrial |
Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 124-58-118 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $173,531 |
Property Taxes
Parcel Number
124-58-118
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$173,531
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2220 W 14th St
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