Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    16005 31St St Phoenix, AZ 85032

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 16005 31St St

    Property type
    Land

    Description

    This exceptional 1.1 million dollar land opportunity in Phoenix, Arizona, presents a unique chance to develop a substantial residential project. Located at 16005 N 31st St, 85032, within Maricopa County, this property boasts an R-3 zoning designation, allowing for the creation of up to fourteen residential units. The expansive lot encompasses multiple parcels, identified by APNs 214-36-072, 214-36-071, 214-36-074, 214-36-075, 214-36-077, 214-36-078, 214-36-083, 214-36-084, 214-36-086, and 214-36-087. The property is offered free and clear, simplifying the acquisition process. Its prime location in Phoenix offers excellent access to local amenities and infrastructure. This is an ideal investment for developers seeking a high-potential residential development site in a thriving Arizona market. The latitude and longitude coordinates are 33.63207201057394 and -112.0155947684405 respectively. Detailed plans for a fourteen-unit development are available. This is a rare opportunity to acquire a substantial parcel of land in a desirable location with significant development potential. Don't miss this chance to build your next successful project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.016
    Latitude
    33.6321

    Comparable in this City

    • Value Estimation by Request
      2,306 SF

      18026 Cave Crk Rd

      MOBILE HOME PARK, TRAILER PARK • 2,306 SF
      18026 Cave Crk Rd, Phoenix, AZ 85032-1612
      View Details
    • Value Estimation by Request
      4.17 Acres

      3336 Paradise Ln

      MOBILE HOME PARK, TRAILER PARK • 4.17 Acres
      3336 Paradise Ln, Phoenix, AZ 85032
      View Details
    • Value Estimation by Request
      0.23 Acres

      16251 Cave Crk Rd

      MOBILE HOME PARK, TRAILER PARK • 0.23 Acres
      16251 Cave Crk Rd, Phoenix, AZ 85032-2976
      View Details
    • Value Estimation by Request
      952 SF

      2431 Tracy Ln

      Multifamily properties • 952 SF
      2431 Tracy Ln, Phoenix, AZ 85032
      View Details
    • Value Estimation
      $8,085,000
      1,511 SF

      16601 29th St

      MOBILE HOME PARK, TRAILER PARK • 1,511 SF
      16601 29th St, Phoenix, AZ 85032-2628
      View Details
    • Value Estimation
      $5,885,000
      1,635 SF

      3824 Paradise Ln

      MOBILE HOME PARK, TRAILER PARK • 1,635 SF
      3824 Paradise Ln, Phoenix, AZ 85032-3241
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,323 SF

      Greenway Road Retail Pad - Phoenix

      Prime Phoenix retail space, 33,323 SF.
      3202 Greenway Rd, Phoenix, AZ 85032
      View Details
    • New
      $5,400,000

      New Multifamily Property in Phoenix

      Newly constructed 12-unit multifamily property in North Phoenix.
      17444 N 32Nd St, Phoenix, AZ 85032
      View Details
    • $290,000
      1,188 SF

      Active Adult Community Home

      Immaculate 2BR home in a vibrant 55+ Phoenix community.
      16416 N 33Rd St, Phoenix, AZ 85032
      View Details
    • $220,000
      1,048 SF

      Phoenix Townhouse with Upgrades

      Two-bedroom Phoenix townhouse near amenities and freeway access.
      3001 E Grandview Rd, Phoenix, AZ 85032
      View Details
    • $91,000
      1,104 SF

      55+ Community Home with Patio

      Two-bedroom home in a gated 55+ community with amenities.
      18026 N Cave Creek Rd, Phoenix, AZ 85032
      View Details
    • $225,000

      Updated Phoenix Condo For Sale

      Recently updated condo with new features and community improvements planned.
      16402 N 31St St, Phoenix, AZ 85032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,323 SF

      Greenway & 32nd St Retail Pad

      Large Retail Space: Build-to-Suit Available
      3202 Greenway Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing

      Commercial Land Near Fry's

      Commercial land for rent with high traffic counts.
      3448 W Thunderbird Rd, Phoenix, AZ 85032
      View Details
    • $24 SF/Yr
      7,479 SF

      Phoenix Medical Office Space for Lease

      7,479 SF Medical Office Building, 2,260 SF Available
      3933 Edna Ave, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      3,435 SF

      Tatum Park Place Retail Space For Lease

      Prime Retail Space, High-Traffic Area
      0 Nwc Of Tatum Blvd And Greenway Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on Busy Intersection

      Retail space available on a high-traffic intersection in Phoenix.
      13637 N Tatum Blvd, Phoenix, AZ 85032
      View Details
    • $10 SF/Yr
      1,000 SF

      Phoenix Retail Space For Rent

      Retail spaces available in Phoenix, ranging from 808 to 40,000 SF.
      2734 W Bell Rd, Phoenix, AZ 85032
      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.
    16005 31St St
    Phoenix, AZ 85032
    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
    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

    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.