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5241-5353 E Washington St
Phoenix, AZ 85034
Land For Sale
·
2.21 AC
Investment Highlights
- Income-producing IOS site with five tenants and below-market rents
- Located minutes from Sky Harbor International Airport enhancing logistical convenience
- Direct Washington Street frontage providing strong visibility and access
- A-2 zoning within the City of Phoenix allowing flexible industrial use potential
Executive Summary
Currently improved with five income-producing tenants, the property generates gross annual income of $93,600, supported by below-market rents that create clear upside potential for an investor focused on repositioning or lease optimization. Operating expenses total $38,997 annually, resulting in a net operating income of $54,603 based on existing tenancy. This stable income profile allows a buyer to maintain cash flow while evaluating long-term site use, redevelopment possibilities, or re-tenanting strategies. =
Utility infrastructure includes electric service through Salt River Project, water provided by the City of Phoenix, and septic sewer systems on site. These existing utility connections allow for immediate operational continuity and limit the need for near-term capital outlays related to system installation. The site’s proximity—approximately ten minutes—to Sky Harbor International Airport further enhances its logistical relevance for businesses requiring rapid regional or national connectivity.
With strong underlying fundamentals, front-facing exposure, in-place income, and a location within one of Phoenix’s most active industrial submarkets, this property offers a balanced opportunity for investors, developers, or owner-users seeking a functional and income-supported land asset with long-term potential.
Property Facts
| Sale Type | Investment | Property Subtype | Industrial |
| No. Lots | 1 | Total Lot Size | 2.21 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | A-2 - A-2 Industrial | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Total Lot Size | 2.21 AC |
| Opportunity Zone |
Yes |
| Zoning | A-2 - A-2 Industrial |
1 Lot Available
Lot
| Lot Size | 2.21 AC |
| Lot Size | 2.21 AC |
• ±2.21 Acres • Approximately 100’ of frontage along Washington Street • 5 Tenants • Below market rents • Zoning: A-2, City of Phoenix • APN: 124-14-005D, 014B • Electrical: Salt River Project • Water: City of Phoenix • Sewer: Septic • Located 10 min
Description
The property consists of approximately 2.21 acres of land located along East Washington Street in Phoenix, Arizona, within the 85034 ZIP code. The site spans two parcels identified as APN 124-14-005D and 124-14-014B. It includes roughly 100 feet of frontage on Washington Street, providing direct access to a primary east-west thoroughfare in the area. The land is positioned within the City of Phoenix and carries an A-2 zoning designation, which is a heavy industrial zoning category. Utility service to the site includes electrical power provided by Salt River Project, water delivered through the City of Phoenix, and sewer handled via an on-site septic system. The property contains improvements that support five separate tenants. These tenants collectively generate annual gross income of $93,600. Operating expenses associated with the site include property taxes of $21,197, insurance costs of $2,200, and utilities totaling $15,600, for combined operating expenses of $38,997. Based on these figures, the net operating income is $54,603 per year. The brochure notes that the existing rents are below market levels but does not provide specific rental rates or tenant details. The property is located approximately ten minutes from Phoenix Sky Harbor International Airport. Surrounding land uses in the broader area include a mixture of multifamily communities, business parks, and other industrial facilities, as indicated by references in the brochure to nearby apartments and business parks. The site also lies adjacent to the Valley Metro light rail corridor, which runs along Washington Street. Contact information in the brochure identifies two representatives associated with the property: an Executive Director and a Brokerage Specialist, both with Cushman & Wakefield’s Phoenix office. Additional disclaimers in the brochure state that all information is subject to change and not guaranteed.
