Industrial Condos for Sale in Tempe

Colliers International, as exclusive advisor, is pleased to present this value-add opportunity to acquire two adjacent industrial condos located in the heart of Tempe. The condos are located five minutes from Interstate 10 and the Loop 202 and consists of two tenants occupying a total of 10,600 square feet.

The suite sizes are approximately 6,600 SF (Unit #101) and 4,000 SF (Unit #102). Both suites are currently occupied with leases executed within the last two years. The average in place rent is $0.96/SF Modified Gross, substantially below current market conditions of $1.35/SF NNN. The tenants are currently responsible for base rent, CAMs, management fees, plus the City and County Rental tax rates (currently at 2.3%). Ownership covers the building property taxes and building property insurance.

The combination of stable in place income, functionality with truck well & grade level loading, and the opportunity to add value through increased rents provides investors with an exceptional investment opportunity.