Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2048 N 44Th St, Unit | Phoenix Phoenix, AZ 85008

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Two-story office project located near Sky Harbor Airport.

    Property size:
    16 SF
    Lot size:
    16 SF

    Property Features for 2048 N 44Th St

    General Information

    Size
    16 SF

    Building Details

    Year built
    2003

    We can help!

    Listing Contact
    Andrew Cheney, Ccim, Cre, Sior
    Source: Lee-associates

    Listing Agent: Andrew Cheney, Ccim, Cre, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Office Space Near Sky Harbor

    This two-story office project is situated approximately 2 miles from Sky Harbor Airport, offering convenient access to Loop 202 and SR 143. The location provides access to numerous amenities within a 0.5-mile radius. The property offers a central location suitable for both employees and clients. The property size is 16 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lefevers Viewpoint Group ... Real Estate Appraiser Aira Corporate Office Fournier Appraisals Appraiser AZ Investment Property ... Real Estate Consultant Gaeler Electrician

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9876684
    Latitude
    33.4709295

    Nearby Similar for Lease

    • $19 SF/Yr
      4,792 SF

      Phoenix Office/Medical Office Building

      Commercial office/medical building with great visibility and secured parking.
      2101 W Bethany Home Rd, Phoenix, AZ 85015
      View Details
    • $2,695 /Mo
      1,360 SF

      Arcadia Townhome with Modern Luxury

      Two-bedroom townhome in Arcadia, built in 2021, spanning 1,360 square feet.
      6115 E Hollyhock St, Phoenix, AZ 85018
      View Details
    • $26 SF/Yr
      1,286 SF

      Phoenix Retail Space For Lease

      Multi-tenant retail property in a dominant Phoenix retail corridor.
      2441 E Indian School Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing
      4,154 SF

      Retail Space in Market Place

      Retail space available in a vibrant Phoenix shopping center.
      111-217 E Dunlap Ave, Phoenix, AZ 85020
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Market Place

      Retail space with high foot traffic near Sunnyslope High.
      17 E Dunlap Ave, Phoenix, AZ 85020
      View Details
    • Contact for pricing
      221,836 SF

      Premier Office Space in Phoenix

      Class A office building in the Camelback Corridor.
      2415 E Camelback Rd, Phoenix, AZ 85016
      View Details
    • $1.25 SF/Yr
      27,489 SF

      Phoenix Industrial Facility with Secured Yard

      27,489 SF industrial building with secured yard for lease.
      1035 E Riverview Dr, Phoenix, AZ 85034
      View Details
    • $2,295 /Mo
      1,203 SF

      Stylish Condo in Gated Community

      Well-maintained 2-bed, 2.5-bath condo with resort-style amenities.
      2432 E Montecito Ave, Phoenix, AZ 85016
      View Details
    • $16 SF/Yr
      7,910 SF

      Camelback Corridor Office Space

      Prime leasing opportunity in Phoenix's prestigious Camelback Corridor.
      4520 N 12Th St, Phoenix, AZ 85014
      View Details
    • Contact for pricing
      800 SF

      Phoenix Retail Space For Rent

      Retail space in a high-traffic Phoenix location.
      5350 E High St, Phoenix, AZ 85054
      View Details
    • $45 SF/Yr
      27,684 SF

      Class A Office Space Available

      Modernized office space with abundant amenities in premier location.
      2394 E Camelback Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing

      Prime Retail Space in Phoenix

      Exceptional leasing opportunity in a thriving Phoenix commercial hub.
      10235 North Metro Pkwy East, Phoenix, AZ 85051
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office project located near Sky Harbor Airport.
    Where is this office building located?
    The property is located at 2048 N 44Th St, Unit | Phoenix Phoenix, AZ.
    What are key features of this property?
    This property features: - Located just 2 miles from Sky Harbor Airport.; - Minutes to Loop 202 & SR 143.; - Numerous amenities within 1/2 mile.
    (602) 488-4000
    Request Owner's contact information
    2048 N 44Th St, Unit | Phoenix Phoenix, AZ 85008
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2048 N 44Th St, Unit | Phoenix
    Phoenix, AZ 85008
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2048 N 44Th St, Unit | Phoenix Phoenix, AZ 85008
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Andrew Cheney, Ccim, Cre, Sior
    (602) 488-4000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.