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    Phoenix Commercial Property for Sale Title is generated by Realmo AI

    330 N 24th St, Phoenix, AZ 85008

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    Commercial property in Phoenix with long-term tenant.

    Type:Industrial
    Added:
    Mar 12, 2026
    Days on Market:
    61
    Last Refresh:
    Mar 19 at 10:58 pm

    Property Features for 330 N 24th St

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Ryan Hingst

    Listing agent Ryan Hingst License #AZ SA679642000

    Listing office Lee & Associates - Arizona

    Listing date Mar 12, 2026

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Arizona

    HighLights

    • Tenant (Enterprise Truck Rental) invested over $700,000 in site improvements.
    • Below market sales price, 25% below market comps based on land value.
    • Long‑term lease with Enterprise Truck Rental commenced in 2020 with two (5‑year) renewal options.
    • 3% annual rental increases throughout the initial term and option periods.
    • High‑visibility location at the signalized intersection of Van Buren Street and 24th Street (40,000+ vehicles per day).
    • Excellent access to Loop 202, Interstate 10, Interstate 17, Arizona State Route 51, and Phoenix Sky Harbor International Airport.

    Overview

    This commercial property in Phoenix presents an opportunity for acquisition. The property is currently leased to Enterprise Truck Rental, which executed a 10-year lease commencing January 12, 2020, with two 5-year renewal options. The lease includes 3% annual rental increases throughout the initial term and option periods. Enterprise has invested over $700,000 of its own capital into construction and site improvements. The property is located at the signalized, hard-corner intersection of Van Buren Street and 24th Street, with visibility to more than 40,000 vehicles per day. This infill location is less than one mile from the full diamond interchange at 24th Street and Loop 202, providing convenient access to Interstate 10, Interstate 17, and Arizona State Route 51. The Phoenix Sky Harbor International Airport, which serves more than 50 million annual visitors, is located just under one mile to the south. Originally constructed in 1994, the property underwent an extensive remodel in 2020, with Enterprise making significant capital improvements to meet current operational efficiency and corporate property standards. The property is suitable for truck stops, automotive properties, retail properties and spaces, and general commercial real estate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Enterprise Truck Rental Car Rental Facility

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0306511
    Latitude
    33.4522018

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    FAQs

    What type of property is this?
    Truck stop - Commercial property in Phoenix with long-term tenant.
    Where is this truck stop located?
    The property is located at 330 N 24th St Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $1,823,643.
    What are key features of this property?
    This property features: Tenant (Enterprise Truck Rental) invested over $700,000 in site improvements.; Below market sales price, 25% below market comps based on land value.; Long‑term lease with Enterprise Truck Rental commenced in 2020 with two (5‑year) renewal options.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ryan Hingst
    Real Estate License ID: AZ SA679642000
    Learn More
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    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
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