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Property profile & analytics
OFF-MARKET
Estimated value
$5,410,000
Flex space
11002 23rd Ave, Phoenix, AZ 85029-4833
Entity Owned
~
Est. High Equity
Property ID
US07-3336899
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1978
Construction
STEEL FRAME
Total area
27,698 SF
Lot
1.7 ac (73,912 SF)
Zoning code
A-1
APN
149-07-010
UPID
US07-3336899
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sunland Marine Inc Metal Fabrication Plant Factory
-
Wholesale Floors Llc Carpet & Flooring Store Hardware & Home Improvement
-
American Legends Hot Rods and Muscle Cars Auto Repair Shop Vehicle Inspection Center
-
DCS Industries, LLC General Contractor Construction Company
-
DCS Pool Barriers, LLC General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.44M
Blend (final)
Blend
$5.41M
Owner & transaction history
J3 Valencia Az LLC
J3 Valencia Az LLC
since 2025
4 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.3M
+35.5%
Medical building
$7.4M
+20.7%
Warehouse, storage
$7.2M
+18.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,095,000
Current use
RETAIL STORES
$8,255,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$7,350,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,190,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$5.41M
Range $4.87M – $5.95M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$195 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$24,464
Tax year 2023
Assessed value
$462,644
Assessed 2024
Previous assessed
$324,037
+42.8% YoY
Effective rate
5.29%
On assessed value
Land market value
$800,800
Improvement market value
$2,003,100
Total market value
$2,803,900
Applied tax rate
61,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1978
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
27,698 SF
Lot
1.7 ac (73,912 SF)
Zoning code
A-1
APN
149-07-010
UPID
US07-3336899
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZ
Zoning A-1 · permitted uses
A-1 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.1M
RETAIL STORES
Est. value
$8.3M
MEDICAL BUILDING
Est. value
$7.4M
WAREHOUSE, STORAGE
Est. value
$7.2M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.7 ac
Current owner
From public records · entity-resolved
J3 Valencia Az LLC
Entity
Mailing address
2150 E HIGHLAND AVE STE #207, PHOENIX, AZ 85016-4721
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2025
—
J3 Valencia Az LLC
J3 Valencia LLC
Special Warranty Deed
—
Aug 29, 2007
$2,400,000
J3 Valencia LLC
Lcn Investments LLC
Grant Deed
—
May 6, 2005
$1,675,000
Lcn Investments LLC
LP Ventures LLC
Grant Deed
$1,225,000 · Bank Of The West
—
—
L P Ventures
—
Deed Of Trust
related
$500,000 · Wells Fargo Bank Arizona
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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