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Property profile & analytics
OFF-MARKET
Estimated value
$17,440,000
Distribution centers
2009 22nd Ave Phoenix, AZ 85009-3001
Entity Owned
23-yr Hold
Free & Clear
Property ID
US07-3242946
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1956
Construction
CONCRETE
Total area
87,844 SF
Lot
2.98 ac (129,809 SF)
Zoning code
A-2
APN
110-51-016A
UPID
US07-3242946
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.66M
Blend (final)
Blend
$17.44M
Owner & transaction history
Cjk Family LP · 23 yrs held
Cjk Family LP
since 2002
4 recorded transactions
Zoning & alternative use
A-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of A-2 zone is to provide intensive use of property, open uses and storage, industrial processes which may involve significant amounts of heat, mechanical and chemical processing, large amounts of materials transfer, extended or multiple shift operation or large scaled structures
Zone name
Industrial
General category
INDUSTRIAL
Zone area
10,167.00 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$27.9M
+17.8%
Industrial (general)
$26.4M
+11.2%
Retail stores
$26.2M
+10.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$23,715,000
Current use
AUTO REPAIR, GARAGE
$27,945,000
Change: +18% · Conversion: Easy
INDUSTRIAL (GENERAL)
$26,370,000
Change: +11% · Conversion: Easy
RETAIL STORES
$26,175,000
Change: +10% · Conversion: Moderate
MEDICAL BUILDING
$23,315,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$17.44M
Range $15.70M – $19.18M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$199 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$54,421
Tax year 2023
Assessed value
$1,300,893
Assessed 2024
Previous assessed
$974,729
+33.5% YoY
Effective rate
4.18%
On assessed value
Land market value
$766,500
Improvement market value
$7,117,700
Total market value
$7,884,200
Applied tax rate
11,300.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1956
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
87,844 SF
Lot
2.98 ac (129,809 SF)
Zoning code
A-2
APN
110-51-016A
UPID
US07-3242946
Jurisdiction
MARICOPA
Zoning & alternative use
A-2 · Phoenix, AZZoning A-2 · permitted uses
A-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of A-2 zone is to provide intensive use of property, open uses and storage, industrial processes which may involve significant amounts of heat, mechanical and chemical processing, large amounts of materials transfer, extended or multiple shift operation or large scaled structures
Zone name
Industrial
General category
INDUSTRIAL
Zone area
10,167.00 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$23.7M
AUTO REPAIR, GARAGE
Est. value
$27.9M
INDUSTRIAL (GENERAL)
Est. value
$26.4M
RETAIL STORES
Est. value
$26.2M
MEDICAL BUILDING
Est. value
$23.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1956
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
2.98 ac
Current owner
From public records · entity-resolved
Cjk Family LP
Entity
Free & Clear · 23 yrs held
Mailing address
5515 E MURIEL DR, SCOTTSDALE, AZ 85254-5887
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2002
$2,005,000
Cjk Family LP
King,charles J & Sarah V
Grant Deed
—
Apr 10, 1996
$1,700,000
King,charles J & Sarah V
E & H Smith LP
Trustees Deed
$1,620,000 · M & I Thunderbird Bank
Apr 10, 1996
$2,500
E & H Smith L P
Southeastern Service Co
Trustees Deed
related
—
Oct 20, 1995
$4,330,000
Glendale Mobile Home P Montecito
E & H Smith L P
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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