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

    2001 23rd Ave Phoenix, AZ 85009-2918

    • Distribution centers
    • 32,240 SF
    • 1.41 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2020
    $645,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1195683
    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

    • Encore Landscape Management LLC / Landscaping / General Contractor
    • WETHEFOUNDERS / Logistics Company / Freight Service
    • Office Space Solutions / Moving Company / Storage Facility

    Property Details for 2001 23rd Ave

    Year built
    1965
    Construction
    CONCRETE
    Lot size
    1.41 lot acres
    Property size
    32,240 SF
    Zone code
    A-2
    Property type
    Distribution centers
    APN
    110-57-008
    APU
    11057008

    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
    -112.108
    Latitude
    33.4699
    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
    $21,625
    $0.00
    $0.00
    $461,522
    -
    $330,600
    $2,466,500
    $2,797,100

    Comparable in this City

    • Value Estimation
      $29,985,000
      89,668 SF

      1740 40th Ave

      DISTRIBUTION WAREHOUSE • 89,668 SF
      1740 40th Ave, Phoenix, AZ 85009-6107
      View Details
    • Value Estimation
      $8,245,000
      50,250 SF

      2640 22nd Ave

      DISTRIBUTION WAREHOUSE • 50,250 SF
      2640 22nd Ave, Phoenix, AZ 85009-6916
      View Details
    • Value Estimation
      $1,985,000
      7,720 SF

      1401 26th Ave Ste C

      DISTRIBUTION WAREHOUSE • 7,720 SF
      1401 26th Ave Ste C, Phoenix, AZ 85009-3632
      View Details
    • Value Estimation
      $1,475,000
      6,432 SF

      1401 26th Ave Ste B

      DISTRIBUTION WAREHOUSE • 6,432 SF
      1401 26th Ave Ste B, Phoenix, AZ 85009-3632
      View Details
    • Value Estimation
      $20,335,000
      80,925 SF

      1825 43rd Ave

      DISTRIBUTION WAREHOUSE • 80,925 SF
      1825 43rd Ave, Phoenix, AZ 85009-6056
      View Details
    • Value Estimation
      $38,230,000
      156,116 SF

      1640 39th Ave

      DISTRIBUTION WAREHOUSE • 156,116 SF
      1640 39th Ave, Phoenix, AZ 85009-6114
      View Details

    Similar Nearby for Sale

    • $2,500,000
      66,490 SF

      Phoenix Industrial Property: 66,490 SF

      Owner-user opportunity; prime Phoenix location.
      1938 Buckeye Rd, Phoenix, AZ 85009
      View Details
    • $15,336,750
      102,245 SF

      Phoenix Industrial Flex Warehouse

      102,245 SF Flex Warehouse - $150/SF
      1911 22Nd Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      10,949 SF

      Phoenix Industrial Facility For Sale

      Spacious industrial facility in Phoenix with excellent accessibility.
      2319 W Holly St, Phoenix, AZ 85009
      View Details
    • $4,200,000
      15,298 SF

      Phoenix Warehouse with Fenced Yard

      Industrial warehouse with large fenced yard near Sky Harbor Airport.
      2212 N 27Th Ave, Phoenix, AZ 85009
      View Details
    • $2,100,000
      18,700 SF

      Leased Multi-Tenant Industrial Building

      18,700 SF industrial building near I-17 and I-10.
      1011-1021 N 21St Ave, Phoenix, AZ 85009
      View Details
    • $4,200,000

      Phoenix Warehouse with Grade Doors

      Phoenix warehouse featuring nine grade level doors for sale.
      2212 North 27Th Ave, Phoenix, AZ 85009
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      850,000 SF

      Prime Warehouse Space Available

      Large Industrial Warehouse, Multiple Suites
      625 27Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      40,719 SF

      Phoenix Warehouse with Secured Lot

      Available warehouse space with secured lot in Phoenix, Arizona.
      1601 South 35Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      18,568 SF

      Phoenix Warehouse with Fenced Yard

      Industrial warehouse with fenced yard, convenient highway access in Phoenix.
      3230 W Lincoln St, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      2,457 SF

      Phoenix Warehouse/Distribution Space Available

      Prime industrial location near major transportation routes and highways.
      4014 W Van Buren St, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      7,500 SF

      Phoenix Cross Dock Facility

      7,500 SF cross-dock facility on 4.08 acres for lease.
      946 S 25Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      127,042 SF

      Phoenix Warehouse with Secured Storage

      Phoenix warehouse featuring secured storage, dock doors, and ample parking.
      1439 S 40Th Ave, Phoenix, AZ 85009
      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.
    2001 23rd Ave
    Phoenix, AZ 85009-2918
    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!