Warehouses
Entity Owned
3-yr Hold
~
Est. High Equity
Entity Owned 
For Sale
1 / 12
Contact for pricing
1904 E Washington St, Phoenix, AZ 85034
View Listing →
Property summary
AI-generated overview
This exceptional industrial property, located at 1904-1910 E Washington St, Phoenix, AZ 85034, presents a compelling investment opportunity. The 10,000 square foot warehouse sits on a 0.36-acre lot and boasts a desirable C-3 zoning designation from the City of Phoenix. Built in 2000, this single-story building features a 10-foot clear height, providing ample storage and operational space. Three grade-level doors and one truck well ensure efficient loading and unloading. The property is fully fenced, enhancing security. Its strategic location offers unparalleled access to major transportation arteries, including I-10, Loop 202, US-60, and I-17, placing it within easy reach of Phoenix Sky Harbor International Airport. The property's Washington Street frontage benefits from high visibility and significant daily traffic volume (13,000 vehicles per day). The asking price for this well-maintained warehouse is $2,100,000. The property's APN is 115-03-088, 115-03-089. This is a rare opportunity to acquire a high-quality industrial asset in a thriving Phoenix location.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1959
Construction
CONCRETE
Total area
5,000 SF
Lot
0.18 ac (7,850 SF)
Zoning code
C-3
APN
115-03-088
UPID
US07-1117950
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Furniture & Home Goods Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$743k
Blend (final)
Blend
$1.25M
Owner & transaction history
since 2022
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
C-3 · Phoenix, AZ
Zoning description
The purpose C-3 zone is to provide to provide for the intensive commercial uses necessary to the proper development of the community
General category
COMMERCIAL
Top alternative use upside
Retail stores
$1.5M
+43.0%
Medical building
$1.3M
+27.4%
Neighborhood: shopping center
$1.3M
+22.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 11 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.25M
Value range
$1.13M – $1.38M
±10% around blend
Estimated value / SF
$250 / SF
Confidence
High
11 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$1.13M
blend $1.25M
$1.38M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,000 SF
Lot area
0.18 ac
Year built
1959
Stories
1
APN
115-03-088
Assessed value
$64,169
Annual tax
$3,458
3
Income approach: direct capitalization
Partial preview
Income approach indication
$590k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$635k
@ 6.5% CAP return
$590k
@ 7% CAP return
$545k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$3,458
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.27M
Weighted, 11 comps · high confidence
Evidence
11 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.5 mi away · 5,040 SF
1.8 mi away · 3,629 SF
3.3 mi away · 4,040 SF
3.4 mi away · 4,320 SF
3.4 mi away · 3,570 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.25M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 80 sales
$208
+20%
Submarket 569 sales
$260
-4%
County 1139 sales
$205
+22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $250/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+43%
vs current-use indication
Medical Building
Neighborhood: Shopping Center
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 11 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
3.10%
Selected cap rate for this warehouses
Derived from the Phoenix market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.10%
9.0%
NOI (est.)
$76k *
Last sale · Oct 2022
$1.26M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.46M
Move the market yield to see immediate price impact.
Value / SF
$493
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.60%3.10%3.60%
$69k
$2.64M
$2.22M
$1.91M
$76k
$2.94M
$2.46M
$2.12M
$84k
$3.23M
$2.71M
$2.33M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
11 found
High confidence · county-verified
Closest comparable
$2.25M
0.5 mi · Dec 2025 · $600/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,458
Tax year 2023
Assessed value
$64,169
Assessed 2024
Previous assessed
$46,563
+37.8% YoY
Effective rate
5.39%
On assessed value
Land market value
$137,300
Improvement market value
$251,600
Total market value
$388,900
Applied tax rate
11,300.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1959
Construction
CONCRETE
Heating
SPACE
Cooling
YES
Stories
1
Total area
5,000 SF
Lot
0.18 ac (7,850 SF)
Zoning code
C-3
APN
115-03-088
UPID
US07-1117950
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Phoenix, AZZoning C-3 · permitted uses
C-3 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The purpose C-3 zone is to provide to provide for the intensive commercial uses necessary to the proper development of the community
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1959
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.18 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
C-3
COMMERCIAL
Jurisdiction
Phoenix, AZ
Recorded code
C-3
Official district
C-3
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-3 in Phoenix, AZ.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
