- For sale
Fully leased, multi-tenant industrial warehouse for sale at 1011-1021 North 21st Avenue in Phoenix. Building is ±18,700 square feet on ±0.63 acres.
Asking price is $2,178,950 ($116.52 per square foot).
Suite sizes are ±4,000 square feet, ±5,300 square feet and ±9,400 square feet. All suites are currently occupied on new leases executed during the 2021 calendar year. The smaller suites are in high demand, as most of the Southwest Valley submarket focuses on larger tenants.
The average in-place rents are $0.60 (monthly, per square foot, industrial gross) approximately twenty percent below current market conditions of $0.75 (monthly, per square foot, industrial gross).
The property offers a combination of stable in-place cash flow, functional single-tenant or multi-tenant building configurations, and the opportunity to add value through increased rents.
The building is in an older infill location, two to three miles from downtown Phoenix, at the confluence of Interstate 10 and Interstate 17.