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Property profile & analytics
OFF-MARKET
Estimated value
$21,995,000
Warehouses
2045 Northern Ave Phoenix, AZ 85021-5157
Entity Owned
4-yr Hold
Free & Clear
Property ID
US07-2565682
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2020
Total area
130,940 SF
Lot
2.44 ac (106,406 SF)
Zoning code
PUD
APN
157-20-175
UPID
US07-2565682
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
Current use
Occupant on record · Public records
-
CubeSmart Self Storage Storage Facility
-
Westwind Preparatory Academy High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.24M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.00M
Owner & transaction history
Wsc Glendale Ave LLC · 4 yrs held
Wsc Glendale Ave LLC
since 2021
Last sale
$21.5M
3 recorded transactions
Zoning & alternative use
PUD · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Unit Development is intended to create a built environment that is superior to that produced by conventional zoning districts and design guidelines
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
17,457.92 ac
Source
Realmo
Top alternative use upside
Medical building
$34.8M
+2.3%
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
$24,745,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$21,925,000
6.5%
$20,240,000
7%
$18,795,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$33,985,000
Current use
MEDICAL BUILDING
$34,755,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$33,330,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$22.00M
Range $19.80M – $24.19M · ±10% · vs last sale $21.50M (Nov 15 2021)
Last sale anchor
$21.50M
Nov 15 2021
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
$168 / 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
$195,751
Tax year 2023
Assessed value
$3,288,269
Assessed 2024
Previous assessed
$2,326,671
+41.3% YoY
Effective rate
5.95%
On assessed value
Land market value
$1,487,700
Improvement market value
$18,441,200
Total market value
$19,928,900
Applied tax rate
61,300.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2020
Heating
NONE
Stories
2
Total area
130,940 SF
Lot
2.44 ac (106,406 SF)
Zoning code
PUD
APN
157-20-175
UPID
US07-2565682
Jurisdiction
MARICOPA
Zoning & alternative use
PUD · Phoenix, AZZoning PUD · permitted uses
PUD · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Unit Development is intended to create a built environment that is superior to that produced by conventional zoning districts and design guidelines
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
17,457.92 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$34.0M
MEDICAL BUILDING
Est. value
$34.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$33.3M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2020
Heating
NONE
Stories
2
Lot
2.44 ac
Current owner
From public records · entity-resolved
Wsc Glendale Ave LLC
Entity
Free & Clear · 4 yrs held
Mailing address
30 HUDSON YARDS, NEW YORK, NY 10001-2170
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2021
—
West Northern Owner LLC
—
Deed
related
$125,000,000 · Wells Fargo Bank NA
Nov 15, 2021
—
Wsc Glendale Ave LLC
Wpc Northern Storage LLC
Quit Claim Deed
related
—
Nov 15, 2021
$21,500,000
West Northern Owner LLC
Wpc Northern Storage LLC
Special Warranty 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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