KCKR Industrial Park represents a rare opportunity to acquire a prime small bay multi-tenant industrial campus in the Sky Harbor Airport industrial corridor, one of the most strategically located and supply-constrained industrial submarkets in Metro Phoenix.
The property consists of four industrial buildings totaling approximately ±54,085 square feet on ±2.20 acres, configured for flexible multi-tenant industrial occupancy including fabrication, contractor, logistics, manufacturing, and service industrial users. The property has recently completed capital improvements and is positioned for continued leasing activity and NOI growth.
The asset currently produces approximately $469,192 in net operating income at approximately 83% occupancy, with one remaining vacant small bay building of ±8,640 SF that has already been renovated, white-boxed, and is actively being marketed for lease. Leasing this final building is expected to increase NOI to approximately $582,952 stabilized, representing a 7.2% stabilized cap rate at the $8.1 million offering price, simply by signing the last small bay space that is already on the market with leasing activity underway.
Beyond stabilization, the property has staggered lease expirations between 2026 and 2030, allowing future ownership to increase rents to market over time. Several tenants are currently below market rent, creating a clear path to long-term NOI growth through lease rollover, rental rate growth, and continued demand within the Sky Harbor industrial corridor.
This investment provides buyers the opportunity to acquire infill industrial product below replacement cost with immediate income, near-term stabilization upside, and long-term NOI growth through rent increases and lease rollover, making it attractive to private investors, 1031 buyers, family offices, and institutional buyers seeking stabilized infill industrial assets.