Add Listing
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

    1838 5th Ave Phoenix, AZ 85003-2854

    • Office buildings
    • 624 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Nov 23, 2022
    $155,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2662304
    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

    • ERS AZ LLC / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store
    • ERS Used forklifts, Sales, Service, Parts / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store

    Property Details for 1838 5th Ave

    Year built
    1956
    Construction
    STEEL FRAME
    Lot size
    0.15 lot acres
    Property size
    624 SF
    Zone code
    A-1
    Property type
    Office buildings
    APN
    112-44-033
    APU
    11244033

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.081
    Latitude
    33.4286
    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
    $1,558
    $0.00
    $0.00
    $23,381
    -
    $88,800
    $52,900
    $141,700

    Comparable in this City

    • Value Estimation
      $1,045,000
      7,116 SF

      802 1st Ave

      OFFICE BUILDING • 7,116 SF
      802 1st Ave, Phoenix, AZ 85003-2504
      View Details
    • Value Estimation
      $2,135,000
      4,069 SF

      333 Roosevelt St, Unit A2

      OFFICE BUILDING • 4,069 SF
      333 Roosevelt St, Phoenix, AZ 85003-1324
      View Details
    • Value Estimation
      $3,320,000
      12,316 SF

      631 1st Ave

      OFFICE BUILDING • 12,316 SF
      631 1st Ave, Phoenix, AZ 85003-1588
      View Details
    • Value Estimation
      $5,220,000
      20,031 SF

      638 1st Ave

      OFFICE BUILDING • 20,031 SF
      638 1st Ave, Phoenix, AZ 85003
      View Details
    • Value Estimation by Request
      1,467 SF

      1024 1st Ave

      OFFICE BUILDING • 1,467 SF
      1024 1st Ave, Phoenix, AZ 85003-2602
      View Details
    • Value Estimation
      $955,000
      1,815 SF

      821 5th Ave

      OFFICE BUILDING • 1,815 SF
      821 5th Ave, Phoenix, AZ 85003-1315
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,433 SF

      Downtown Phoenix Remodeled Office Building

      3,433 SF remodeled office building in prime downtown location.
      394 N 3Rd Ave, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      2,000 SF

      Office Space with Freeway Access

      Office space with private offices, parking, and freeway access.
      621 N 5Th Ave, Phoenix, AZ 85003
      View Details
    • New
      $889,900
      3,417 SF

      Downtown Phoenix Triplex Opportunity

      New development triplex in Downtown Phoenix Opportunity Zone.
      410 W Hadley St, Phoenix, AZ 85003
      View Details
    • $1,155,000

      Land in Roosevelt Row District

      Commercial land near Roosevelt Row Arts District, Phoenix, Arizona.
      833 N 2Nd Ave, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      3,598 SF

      Newer Duplex Portfolio in Phoenix

      Newer construction duplexes near Downtown Phoenix and Sky Harbor Airport.
      1024 S 4Th Ave, Phoenix, AZ 85003
      View Details
    • Contact for pricing

      Downtown Phoenix Development Opportunity

      9,952 SF lot in the heart of Downtown Phoenix.
      388 N 3Rd Ave, Phoenix, AZ 85003
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Historic Downtown Phoenix Office Space

      Historic skyscrapers offering office and retail space in downtown Phoenix.
      45 W Jefferson St, Phoenix, AZ 85003
      View Details
    • $28 SF/Yr
      2,610 SF

      Creative Office Space in Phoenix

      Modern office space with natural light, central Phoenix location.
      303 E Palm Ln, Phoenix, AZ 85003
      View Details
    • $17 SF/Yr
      7,310 SF

      Downtown Phoenix Flex Space

      7,310 SF Office/Retail, High Visibility
      323 Mcdowell Rd, Phoenix, AZ 85003
      View Details
    • Contact for pricing
      3,595 SF

      Retail/Office Space with Patio

      Retail or office space available for lease with outdoor patio.
      601 N 3Rd Ave, Phoenix, AZ 85003
      View Details
    • $29 SF/Yr
      2,500 SF

      Phoenix Office Space For Rent

      2,500 SF office space available for lease in Phoenix.
      829 N 1St Ave, Phoenix, AZ 85003
      View Details
    • $29 SF/Yr
      950 SF

      Central Phoenix Live/Work Space

      950 SF live/work space in central Phoenix for rent.
      309 W Mcdowell Rd, Phoenix, AZ 85003
      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.
    1838 5th Ave
    Phoenix, AZ 85003-2854
    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!