Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5241-5257 W Luke Ave Glendale, AZ 85301

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $4,200 /Mo

    Approximately 1 acre of fenced industrial land available for lease.

    Lot size:
    1.00 Acre

    Property Features for 5241-5257 W Luke Ave

    General Information

    Lot size
    1.00 Acre

    We can help!

    Listing Contact
    Max Schumacher
    Source: Moodyscre

    Listing Agent: Max Schumacher

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

    Learn more

    Overview

    Industrial Land Site For Lease

    This property features an approximate 1-acre drop yard or industrial land site. It is fully fenced, incorporating a partial block wall. The parcel numbers are 144-76-011 and 144-76-012B. The zoning is M-2 (Heavy Industrial).
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.1723776
    Latitude
    33.5181884

    Nearby Similar for Lease

    • $40 SF/Yr
      4,028 SF

      Freestanding Restaurant with Drive-Thru

      Prime corner location near Banner Thunderbird and ASU West Campus.
      5105 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • Contact for pricing
      215,419 SF

      Glendale Cross Dock Distribution Building

      215,419 SF available in a 377,028 SF building.
      6701 N Logistics Way, Glendale, AZ
      View Details
    • Contact for pricing
      4,470 SF

      Fixturized Restaurant Space Available Now

      Prime restaurant space in Peoria Crossings shopping center.
      9490 W Northern Ave, Glendale, AZ 85305
      View Details
    • Contact for pricing
      14,210 SF

      Glendale Retail Space with Drive-Thru

      Retail space with drive-thru in a high-traffic Glendale location.
      5490 W Bell Rd, Glendale, AZ 85308
      View Details
    • Contact for pricing
      1,087 SF

      Retail Space Near Target

      Retail space adjacent to Target with high traffic volume.
      10222 N 43Rd Ave, Glendale, AZ 85302
      View Details
    • Contact for pricing
      455,936 SF

      Glendale Warehouse Space Available

      455,936 SF warehouse space for lease in Glendale, AZ.
      9501 N 151 Ave, Glendale, AZ
      View Details
    • $20 SF/Yr
      7,500 SF

      Move-in Ready Glendale Office Space

      3,750 SF office space near Arrowhead Mall and P83.
      17431 North 71St Dr, Glendale, AZ 85308
      View Details
    • Contact for pricing
      51,353 SF

      Glendale Retail Space For Lease

      Retail opportunity in Glendale's Arrowhead Trade Area.
      7340 W Bell Rd, Glendale, AZ 85308
      View Details
    • Contact for pricing
      1,300 SF

      Glendale Retail Space Available

      Prime commercial property in Glendale, suitable for various businesses.
      7802 N 43Rd Ave, Glendale, AZ 85301
      View Details
    • Contact for pricing
      32,480 SF

      Renovated Retail and Office Center

      High-visibility retail and office spaces near ASU West Campus.
      5111-5159 N 51St Ave, Glendale, AZ 85306
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Fry's Food

      Retail space anchored by Fry’s Food in Glendale, Arizona.
      13621-13635 N 59Th Ave, Glendale, AZ 85304
      View Details
    • $1,095 /Mo

      Charming Glendale 2-Bedroom Apartment

      End unit with private yard, close to amenities.
      8322 N 60Th Ave, Glendale, AZ 85302
      View Details

    FAQs

    What type of property is this?
    Industrial land - Approximately 1 acre of fenced industrial land available for lease.
    Where is this industrial land located?
    The property is located at 5241-5257 W Luke Ave Glendale, AZ.
    What are key features of this property?
    This property features: - ±1 Acre drop Yard/Industrial land site; - Zoned M-2 (Heavy Industrial); - Fully fenced with partial block wall
    (480) 214-9400
    Request Owner's contact information
    5241-5257 W Luke Ave Glendale, AZ 85301
    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.
    5241-5257 W Luke Ave
    Glendale, AZ 85301
    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
    5241-5257 W Luke Ave Glendale, AZ 85301
    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
    Max Schumacher
    (480) 214-9400
    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.