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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16420 33rd Way Phoenix, AZ 85032-3115

    • Parking lots & garages
    • 456 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2020
    $162,000
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0336348
    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

    • Parking lots & garages

    Property Details for 16420 33rd Way

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    0.14 lot acres
    Property size
    456 SF
    Zone code
    R1-8
    Property type
    Parking lots & garages
    APN
    214-32-108
    APU
    21432108

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $284,000
      Market price range: $12.3k - $284k
      AI Estimate
      $273,000
      Market price range: $12.1k - $274k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $155,000
      Current use
      COMMERCIAL (GENERAL)
      $320,000
      Change: +105% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $195,000
      Change: +25% Conversion: Difficult
      OFFICE BUILDING
      $140,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.01
    Latitude
    33.636
    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
    2022
    $905
    $0.00
    $0.00
    $17,496
    -
    $131,400
    $43,562
    $174,962

    Comparable in this City

    • Value Estimation by Request
      528 SF

      2536 Waltann Ln

      RESIDENTIAL PARKING GARAGE • 528 SF
      2536 Waltann Ln, Phoenix, AZ 85032-3605
      View Details
    • Value Estimation by Request
      780 SF

      2535 Waltann Ln

      RESIDENTIAL PARKING GARAGE • 780 SF
      2535 Waltann Ln, Phoenix, AZ 85032-3604
      View Details
    • Value Estimation by Request
      320 SF

      16807 28th St

      RESIDENTIAL PARKING GARAGE • 320 SF
      16807 28th St, Phoenix, AZ 85032-2605
      View Details
    • Value Estimation by Request
      576 SF

      16402 33rd Way

      RESIDENTIAL PARKING GARAGE • 576 SF
      16402 33rd Way, Phoenix, AZ 85032-3115
      View Details
    • Value Estimation
      $285,000
      576 SF

      16430 33rd Way

      RESIDENTIAL PARKING GARAGE • 576 SF
      16430 33rd Way, Phoenix, AZ 85032-3153
      View Details
    • Value Estimation by Request
      600 SF

      16424 33rd Way

      RESIDENTIAL PARKING GARAGE • 600 SF
      16424 33rd Way, Phoenix, AZ 85032-3115
      View Details

    Similar Nearby for Sale

    • $568,000

      Retail Property with Service Bays

      Retail storefront with service bays, suitable for automotive businesses.
      17037 N Cave Creek Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      7,120 SF

      Freestanding Commercial Building Near PV

      7,120 SF building near Paradise Valley Mall redevelopment.
      12630 N 48Th St, Phoenix, AZ 85032
      View Details
    • 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
    • $1,500,000
      2,692 SF

      Phoenix Retail with Automotive Zoning

      Turnkey retail opportunity with high visibility and strong demographics.
      4126 E Bell Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      4,441 SF

      Freestanding Restaurant with Drive-Thru Potential

      Phoenix restaurant space for lease with drive-thru opportunity.
      4040 E Bell Rd, Phoenix, AZ 85032
      View Details
    • $595,000
      2,400 SF

      Free-Standing Retail Building For Sale

      2,400 SF retail building in high-traffic area.
      15046 N Cave Creek Rd, Phoenix, AZ 85032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,840 SF

      Renovated Auto Repair Building Available

      Recently renovated auto repair building with high traffic visibility.
      17209 N Cave Creek Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      2,793 SF

      Retail Space in Phoenix, Arizona

      Retail space available in a strong retail area.
      16830-16872 N Cave Creek Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      198,964 SF

      Retail Center Near Paradise Valley

      Retail space adjacent to Paradise Valley Mall redevelopment.
      North Tatum Blvd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      1,415 SF

      Retail Space in Phoenix Center

      Retail space available in Target & REI anchored shopping center.
      12602 N Paradise Village Pkwy W, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space Near PV Redevelopment

      Elite retail center with high visibility and access to consumers.
      4575 E Cactus Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space with Ample Parking

      Retail space with high visibility and convenient access.
      3329 E 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.
    16420 33rd Way
    Phoenix, AZ 85032-3115
    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.