Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    11024 21st Ave, Unit 7 Phoenix, AZ 85029-4802
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11024 21st Ave, Unit 7 Phoenix, AZ 85029-4802

    View on Map
    • Commercial real estate
    • 7,250 SF
    • 0.55 lot acres
    Off-Market
    Last Sale Oct 21, 2020
    Property ID
    US07-0967869
    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.
    Value Estimations
    $3,450,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 11024 21st Ave

    Year built
    1963
    Construction
    STEEL FRAME
    Lot size
    0.55 lot acres
    Property size
    7,250 SF
    Zone code
    A-1
    Property type
    Commercial real estate
    APN
    149-08-067A
    APU
    14908067A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,831,000
      Market price range: $1.27M - $9.64M
      AI Estimate
      $3,065,000
      Market price range: $1.01M - $8.47M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,050,000
      Current use
      OFFICE BUILDING
      $4,560,000
      Change: -10% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.104
    Latitude
    33.5866
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,855
    $0.00
    $0.00
    $142,725
    -
    $329,600
    $535,400
    $865,000

    Comparable in this City

    • Value Estimation by Request

      Nnec I-17 & Peoria

      Land
      0 Nnec I-17 & Peoria, Phoenix, AZ 85029
      View Details
    • Value Estimation by Request
      0.43 Acres

      10626 19th Ave

      COMMERCIAL (GENERAL) • 0.43 Acres
      10626 19th Ave, Phoenix, AZ 85029-4902
      View Details
    • Value Estimation by Request
      0.43 Acres

      11202 24th Ave

      COMMERCIAL (GENERAL) • 0.43 Acres
      11202 24th Ave, Phoenix, AZ 85029-4744
      View Details
    • Value Estimation by Request
      3.60 Acres

      11225 28th Dr

      COMMERCIAL (GENERAL) • 3.60 Acres
      11225 28th Dr, Phoenix, AZ 85029-5606
      View Details
    • Value Estimation by Request
      33,842 SF

      35Th Ave

      Land • 33,842 SF
      0 35Th Ave, Phoenix, AZ 85029
      View Details
    • Value Estimation
      $870,000
      1,800 SF

      11201 23rd Ave

      COMMERCIAL (GENERAL) • 1,800 SF
      11201 23rd Ave, Phoenix, AZ 85029-4829
      View Details

    Similar Nearby for Sale

    • $4,112,400
      17,880 SF

      Phoenix Warehouse/Distribution Space Available

      Warehouse/Distribution space available for lease in Phoenix, Arizona.
      11200 N 21St Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing

      Restaurant Space at Metro Commons

      Restaurant space available in high-traffic Phoenix location near I-17.
      3121 W Peoria Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      65,573 SF

      Phoenix Office Building For Sale

      Two-story office building in Phoenix's Sunnyslope neighborhood.
      11420 N 19Th Ave, Phoenix, AZ 85029
      View Details
    • $445,990

      Charming Duplex on Corner Lot

      Charming duplex on a desirable corner lot in Phoenix.
      1147 W Peoria Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing
      17,880 SF

      Phoenix Industrial Owner-User Opportunity

      Industrial property in Phoenix, Arizona, suitable for owner-users.
      11200 W Shangri La Rd, Phoenix, AZ 85029
      View Details
    • Contact for pricing

      Land For Sale Phoenix

      Land available for sale in Phoenix, Arizona.
      Nnec I-17 & Peoria, Phoenix, AZ 85029
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Office Property

      Multi-tenant office property undergoing multi-million dollar renovation.
      N 28Th Dr, Phoenix, AZ 85029
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Single tenant retail space available for lease.
      35Th Ave, Phoenix, AZ 85029
      View Details
    • $1.10 SF/Yr
      2,200 SF

      Phoenix Office and Industrial Space

      Office and warehouse suites available for immediate occupancy in Phoenix.
      11001-11027 N 24Th Ave, Phoenix, AZ 85029
      View Details
    • $18 SF/Yr
      5,252 SF

      Class A Office Sublease Opportunity

      Functional office space with upscale finishes and convenient location.
      2401 W Peoria Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      Medical office spaces available for lease near Metro Center Mall.
      3201 W Peoria Ave, Phoenix, AZ 85029
      View Details
    • Contact for pricing

      Retail Destination Near I-17

      Shopping, dining, and entertainment destination in North Phoenix.
      Sec I-17 & Carefree Hwy, Phoenix, AZ 85029
      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.
    11024 21st Ave, Unit 7
    Phoenix, AZ 85029-4802
    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.
    Sign Up Successful!
    You now have access to more from Realmo!