Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2340 Coolidge St Phoenix, AZ 85015

    • Commercial real estate
    • 7,899 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0093556
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2340 Coolidge St

    Year built
    1966
    Property size
    7,899 SF
    Property type
    Commercial real estate

    Description

    This stabilized multifamily investment property, located at 2340 W Coolidge St, Phoenix, AZ 85015, presents a compelling opportunity. The 7,899 square foot building, constructed in 1966 and fully renovated in 2024, comprises twelve units currently boasting 100% occupancy, generating a strong net operating income (NOI) of $119,560. The property sits on a 3,650 square foot lot and is zoned R-3, allowing for flexibility. With a price of $2,190,000, this represents a price per unit of $182,500 and a price per square foot of $277.25. The property offers a 5.46% cap rate, indicating a solid return on investment. The single-story building is classified as Class C and features a fee simple ownership structure. This is an ideal investment for those seeking a stable, high-occupancy multifamily asset in a thriving Phoenix market. The property's recent renovation ensures minimal immediate capital expenditures, allowing for immediate cash flow. The strong NOI and high occupancy rate provide a secure foundation for long-term growth and appreciation. This is a turnkey investment ready for immediate income generation.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.11036308374
    Latitude
    33.504986527466

    Comparable in this City

    • $4,770,000

      Phoenix Multifamily Investment Opportunity

      Gated Phoenix community with strong cash flow and modern upgrades.
      2014 W Berridge Ln, Phoenix, AZ 85015
      View Details
    • New
      $1,400,000

      Phoenix Multifamily Investment Opportunity

      Well-maintained 10-unit apartment complex with value-add potential in Phoenix.
      1841 W Fairmount Ave, Phoenix, AZ 85015
      View Details
    • New
      $1,250,000

      Phoenix Multifamily Investment Opportunity

      Nine units near I-17 with residential financing options.
      2134 W Heatherbrae Dr, Phoenix, AZ 85015
      View Details
    • New
      $430,000

      Phoenix Duplex with Rental Potential

      Two detached homes on one lot, ideal for investors.
      4115 N 18Th Dr, Phoenix, AZ 85015
      View Details
    • $700,000

      Phoenix Triplex Investment Opportunity

      Well-maintained triplex in Central Phoenix with long-term tenants.
      4701 N 23Rd Dr, Phoenix, AZ 85015
      View Details
    • $699,999
      1,811 SF

      Phoenix Office Building For Sale

      Office building with high visibility and strong traffic counts.
      2204-2206 W Indian School Rd, Phoenix, AZ 85015
      View Details

    Similar Nearby for Sale

    • $4,770,000

      Phoenix Multifamily Investment Opportunity

      Gated Phoenix community with strong cash flow and modern upgrades.
      2014 W Berridge Ln, Phoenix, AZ 85015
      View Details
    • New
      $1,400,000

      Phoenix Multifamily Investment Opportunity

      Well-maintained 10-unit apartment complex with value-add potential in Phoenix.
      1841 W Fairmount Ave, Phoenix, AZ 85015
      View Details
    • New
      $1,250,000

      Phoenix Multifamily Investment Opportunity

      Nine units near I-17 with residential financing options.
      2134 W Heatherbrae Dr, Phoenix, AZ 85015
      View Details
    • New
      $430,000

      Phoenix Duplex with Rental Potential

      Two detached homes on one lot, ideal for investors.
      4115 N 18Th Dr, Phoenix, AZ 85015
      View Details
    • $700,000

      Phoenix Triplex Investment Opportunity

      Well-maintained triplex in Central Phoenix with long-term tenants.
      4701 N 23Rd Dr, Phoenix, AZ 85015
      View Details
    • $699,999
      1,811 SF

      Phoenix Office Building For Sale

      Office building with high visibility and strong traffic counts.
      2204-2206 W Indian School Rd, Phoenix, AZ 85015
      View Details

    Similar Nearby for Lease

    • $2,120 /Mo

      Renovated Townhouse in Gated Community

      Renovated townhouse with modern amenities in a gated community.
      2034 W Elm St, Phoenix, AZ 85015
      View Details
    • $18 SF/Yr
      106,398 SF

      Prime Phoenix Executive Office Space

      Prestigious Camelback Road Office Suites
      1990 Camelback Rd, Phoenix, AZ 85015
      View Details
    • Contact for pricing
      13,708 SF

      Furnished Office Space Available

      Furnished office space with private offices, break room, and parking.
      2005 E Indian School Rd, Phoenix, AZ 85015
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Camelback Road

      Retail spaces for lease with upcoming upgrades and high visibility.
      1625-1635 W Camelback Rd, Phoenix, AZ 85015
      View Details
    • $1.80 SF/Yr
      1,800 SF

      Industrial Property with Craneway

      Industrial property featuring a craneway and heavy industrial zoning.
      4244 S 15Th Ave, Phoenix, AZ 85015
      View Details
    • $20 SF/Yr
      5,000 SF

      Phoenix Retail Space For Rent

      5,000 SF retail space available in Phoenix, Arizona.
      1827-1829 E Indian School Rd, Phoenix, AZ 85015
      View Details
    Request Owner's contact information
    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.
    2340 Coolidge St
    Phoenix, AZ 85015
    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.

    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
    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
    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.