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2512 E Magnolia St
Phoenix, AZ 85034
Industrial Property For Sale
Investment Highlights
- ±58,890 SF building with ±11,456 SF of built-out office space
- Robust electrical infrastructure with 2,500 amps, 277/480V, 3-phase service
- Tenant is a publicly owned corporation specializing in medical marijuana cultivation
- Dock-high loading with 17 positions and levelers for efficient distribution
- Secure fenced yard and convenient access to SR 51, I-10, and I-17
- Existing lease rates well below current market levels with multiple renewal options
Executive Summary
This industrial investment opportunity at 2512 East Magnolia Street in Phoenix combines scale, accessibility, and adaptable infrastructure on a ±2.66-acre site. The property’s ±58,890 SF building includes a substantial office component of approximately ±11,456 SF and benefits from A-2 zoning within the City of Phoenix. Its design supports efficient operational flow with dock-high loading (17 positions equipped with levelers) and significant power capacity rated at 2,500 amps, 277/480V, 3-phase.
The site features a secure, fenced yard and provides immediate connectivity to State Route 51 as well as Interstates 10 and 17. Located minutes from Phoenix Sky Harbor International Airport, it enables convenient service to regional and national markets. The property is currently leased to a publicly owned tenant engaged in medical marijuana cultivation, generating a Net Operating Income (NOI) of $264,600. Favorable lease terms extend through May 2031 with four remaining five-year options, and current lease rates are approximately 60% below market, creating significant future upside. Offered at $6,615,000, this asset provides an investor with stabilized income along with potential for value growth over the long term.
The site features a secure, fenced yard and provides immediate connectivity to State Route 51 as well as Interstates 10 and 17. Located minutes from Phoenix Sky Harbor International Airport, it enables convenient service to regional and national markets. The property is currently leased to a publicly owned tenant engaged in medical marijuana cultivation, generating a Net Operating Income (NOI) of $264,600. Favorable lease terms extend through May 2031 with four remaining five-year options, and current lease rates are approximately 60% below market, creating significant future upside. Offered at $6,615,000, this asset provides an investor with stabilized income along with potential for value growth over the long term.
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 4% | Year Built | 1965 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Refrigeration/Cold Storage | Parking Ratio | 0.74/1,000 SF |
| Building Class | C | Clear Ceiling Height | 22’ |
| Lot Size | 1.35 AC | No. Dock-High Doors/Loading | 17 |
| Rentable Building Area | 58,890 SF | ||
| Zoning | A-2, Phoenix - Heavy Industrial | ||
| Sale Type | Investment |
| Cap Rate | 4% |
| Property Type | Industrial |
| Property Subtype | Refrigeration/Cold Storage |
| Building Class | C |
| Lot Size | 1.35 AC |
| Rentable Building Area | 58,890 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Tenancy | Single |
| Parking Ratio | 0.74/1,000 SF |
| Clear Ceiling Height | 22’ |
| No. Dock-High Doors/Loading | 17 |
| Zoning | A-2, Phoenix - Heavy Industrial |
Amenities
- Cooler
- Fenced Lot
- Freezer (Space)
Property Taxes
| Parcel Number | 121-43-057K | Improvements Assessment | $0 CAD |
| Land Assessment | $51,861 CAD | Total Assessment | $51,861 CAD |
Property Taxes
Parcel Number
121-43-057K
Land Assessment
$51,861 CAD
Improvements Assessment
$0 CAD
Total Assessment
$51,861 CAD
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