For Sale
Request a price

22040 21St Ave Phoenix, AZ 85027

Phoenix Industrial Net Lease, 5,250 SF

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional Class A industrial property, located at 22040 N 21st Ave, Phoenix, AZ 85027, presents a compelling investment opportunity. The 5,250 square foot building sits on a 4-acre lot, zoned I-1, and boasts a 14-foot ceiling height. Constructed in 1999, this single-tenant property is currently 100% occupied by a credit-rated tenant under a Net Lease (NNN) agreement with a corporate guarantee. The lease commenced on October 27, 2023, and has a remaining term of approximately 8.9 years, expiring October 31, 2033, with two 5-year renewal options. The annual Net Operating Income (NOI) is $175,000, and rent increases are capped at 3% annually based on the CPI. This property offers significant long-term value in the rapidly growing Deer Valley submarket of Phoenix, Maricopa County. The property features a distribution, flex, and warehouse subtype, making it highly versatile. The APN is 209-05-020A, 209-05-029K. This is a strong, low-maintenance investment with a stable tenant and significant upside potential.

Highlights

  • Class A industrial property, 5,250 SF, on a 4-acre lot in Phoenix, AZ.
  • 100% occupied by a credit-rated tenant under a NNN lease with corporate guarantee.
  • 8.9-year lease term remaining (expires 10/31/2033) with two 5-year options; $175,000 annual NOI.
  • 14' ceiling height; I-1 zoning; built in 1999; 3% annual rent increases capped by CPI.
  • Located in the Deer Valley submarket of Phoenix.

Property Details for 22040 21St Ave

Property type
Warehouses, Industrial properties
Square Feet
5,250 SF
Class
A
Year Built
1999
Buildings
1
Lot Size (sq. ft)
174,240 SF

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.6866324
Longitude
-112.1046816

FAQs

What type of property is this?
Warehouse - Phoenix Industrial Net Lease, 5,250 SF
Where is the warehouse located?
The property is located at 22040 21St Ave Phoenix, AZ.
What are key features of this property?
This property features: Class A industrial property, 5,250 SF, on a 4-acre lot in Phoenix, AZ.; 100% occupied by a credit-rated tenant under a NNN lease with corporate guarantee.; 8.9-year lease term remaining (expires 10/31/2033) with two 5-year options; $175,000 annual NOI.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
22040 21St Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message