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

    813 11Th Ave Phoenix, AZ 85007

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

    Current Use by Public Records

    • Land

    Property Details for 813 11Th Ave

    Property type
    Land

    Description

    This exceptional opportunity presents a fully entitled, shovel-ready development site in Phoenix's vibrant Roosevelt Row Arts District. The 0.72-acre parcel, encompassing 31,250 square feet, is approved for a 39-unit multifamily building, featuring a mix of 9 studios, 18 one-bedroom, and 12 two-bedroom/two-bathroom units. The proposed building boasts a modern design with amenities including a rooftop deck with a hot tub, community coworking space, and fitness center. Each unit will include modern plank flooring, shaker cabinets, quartz countertops, stainless-steel appliances, and in-unit laundry. The first floor will provide parking. Located in the heart of Roosevelt Row, this property benefits from its proximity to numerous art galleries, restaurants, and entertainment venues, making it an ideal location for renters. The asking price is $1,950,000, representing a price per unit of $50,000 and a price per square foot of $62.40. City of Phoenix permits are in place, making this a truly shovel-ready project. The building will be a four-story wood-frame structure over a podium. Water, sewer, and trash services are owner-paid

    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
    -112.087
    Latitude
    33.4578

    Comparable in this City

    • Value Estimation by Request

      1450 7Th Ave

      Specialty properties
      1450 7Th Ave, Phoenix, AZ 85007
      View Details
    • Value Estimation by Request

      1345 Papago St

      Land
      1345 Papago St, Phoenix, AZ 85007
      View Details
    • Value Estimation by Request
      0.24 Acres

      Phoenix, AZ 85007

      VACANT COMMERCIAL LAND • 0.24 Acres
      Phoenix, AZ 85007
      View Details
    • Value Estimation by Request
      0.12 Acres

      1814 Maricopa St

      VACANT COMMERCIAL LAND • 0.12 Acres
      1814 Maricopa St, Phoenix, AZ 85007-3574
      View Details
    • Value Estimation by Request
      0.15 Acres

      1527 Maricopa St

      VACANT COMMERCIAL LAND • 0.15 Acres
      1527 Maricopa St, Phoenix, AZ 85007-3532
      View Details
    • Value Estimation by Request
      0.15 Acres

      1331 Pima St

      VACANT COMMERCIAL LAND • 0.15 Acres
      1331 Pima St, Phoenix, AZ 85007-4142
      View Details

    Similar Nearby for Sale

    • $1,600,000
      0.54 Acres

      Prime Phoenix Commercial Land

      0.54-acre lot, C-3 zoning, Grand Ave frontage
      722 Grand Ave, Phoenix, AZ 85007
      View Details
    • $9,200,000

      Downtown Phoenix Development Opportunity

      2.39 AC site with existing structures in Opportunity Zone.
      333 N 7Th Ave, Phoenix, AZ 85007
      View Details
    • $80,000
      0.07 Acres

      Phoenix Land Parcel For Sale

      Rectangular lot in Maricopa County with alley access.
      1214 S 13Th Ave, Phoenix, AZ 85007
      View Details
    • $210,000
      0.08 Acres

      Phoenix Land Ready to Build

      Land available to build a duplex or triplex downtown.
      1218 S 13Th Ave, Phoenix, AZ 85007
      View Details
    • $1,300,000

      Phoenix Land Parcel For Sale

      0.54 acre commercial land parcel with C-3 zoning.
      722 Grand Ave, Phoenix, AZ 85007
      View Details
    • $169,000
      0.15 Acres

      Phoenix Multifamily Development Opportunity

      R-5 zoned land parcel near Downtown Phoenix.
      1521 W Mckinley St, Phoenix, AZ 85007
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Phoenix Land For Lease

      Land available for lease in Phoenix, Arizona.
      6030 W Buckeye Rd, Phoenix, AZ 85007
      View Details
    • $6 SF/Yr
      104,000 SF

      Downtown Phoenix Redevelopment Site

      Prime City Block, Huge Potential
      1450 7Th Ave, Phoenix, AZ 85007
      View Details
    • $7,000 /Mo

      Office/Storage Building for Rent

      Office/storage building with approximately 1,100 square feet available for rent.
      1841 W Linden St, Phoenix, AZ 85007
      View Details
    • $17 SF/Yr
      7,594 SF

      Renovated Warehouse and Office Space

      Newly renovated warehouse and office centrally located in downtown Phoenix.
      1741 W Lincoln St, Phoenix, AZ 85007
      View Details
    • $15,000 /Mo
      10,400 SF

      Industrial Space with Fenced Yard

      Industrial property for lease featuring a large, secured yard.
      1817 W Lincoln St, Phoenix, AZ 85007
      View Details
    • $1.15 SF/Yr
      3,900 SF

      Freestanding Building with A/C Production

      3,900 SF freestanding building featuring A/C production space.
      1127 E Tonto St, Phoenix, AZ 85007
      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.
    813 11Th Ave
    Phoenix, AZ 85007
    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.