Sign Up Successful!
You now have access to more from Realmo!
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

    2211 Southern Ave Phoenix, AZ 85040-3408

    • Assisted living facilities
    • 25,924 SF
    • 2.38 lot acres
    OFF-MARKET
    Value Estimations
    $3,390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1498570
    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

    • Suncrest Health Care / Nursing Home

    Property Details for 2211 Southern Ave

    Year built
    1964
    Construction
    CONCRETE
    Lot size
    2.38 lot acres
    Property size
    25,924 SF
    Zone code
    R-5
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    122-51-168A
    APU
    12251168A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,421,000
      Market price range: $3.42M - $8.48M
      AI Estimate
      $3,361,000
      Market price range: $3.36M - $8.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.033
    Latitude
    33.3924
    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
    $23,952
    $0.00
    $0.00
    $266,107
    -
    $873,200
    $1,787,871
    $2,661,071

    Comparable in this City

    • Value Estimation by Request
      1,454 SF

      1533 Sunland Ave

      HOMES (RETIRED, NURSING) • 1,454 SF
      1533 Sunland Ave, Phoenix, AZ 85040-3269
      View Details
    • Value Estimation by Request
      2,490 SF

      1618 Wood St

      HOMES (RETIRED, NURSING) • 2,490 SF
      1618 Wood St, Phoenix, AZ 85040-1360
      View Details
    • Value Estimation by Request
      3,233 SF

      5241 3rd St

      HOMES (RETIRED, NURSING) • 3,233 SF
      5241 3rd St, Phoenix, AZ 85040-8703
      View Details
    • Value Estimation
      $6,815,000
      51,373 SF

      850 Jones Ave

      HOMES (RETIRED, NURSING) • 51,373 SF
      850 Jones Ave, Phoenix, AZ 85040-1245
      View Details
    • Value Estimation by Request
      3,109 SF

      1614 Wood St

      HOMES (RETIRED, NURSING) • 3,109 SF
      1614 Wood St, Phoenix, AZ 85040-1360
      View Details
    • Value Estimation by Request
      918 SF

      5227 14th St, Unit 3

      HOMES (RETIRED, NURSING) • 918 SF
      5227 14th St, Phoenix, AZ 85040-3213
      View Details

    Similar Nearby for Sale

    • $13,204,438
      44,162 SF

      Phoenix Warehouse with Fenced Yard

      44,162 SF warehouse with office and large fenced yard.
      3637 E Miami Ave, Phoenix, AZ 85040
      View Details
    • $725,000
      865 SF

      Office, Shop, and Secured Lot

      Office, shop, canopies, and secured lot for sale.
      3917 E Anne St, Phoenix, AZ 85040
      View Details
    • $80,000
      7,920 SF

      Phoenix Land for Sale

      Commercial land available in Phoenix, Arizona, near 7th Street.
      4417 S 7Th St, Phoenix, AZ 85040
      View Details
    • Contact for pricing

      Phoenix Area Investment Opportunity

      Meticulously maintained, fully leased office building in a thriving Phoenix market.
      4045 South Riverpoint Pkwy, Phoenix, AZ 85040
      View Details
    • $2,500,000
      5,100 SF

      Phoenix Industrial Property with Yard

      5,100 SF industrial property with paved yard, near I-17.
      1618 E Illini St, Phoenix, AZ 85040
      View Details
    • Contact for pricing
      9,867 SF

      Industrial/Flex Building with Office Space

      9,867 SF industrial/flex building with office and warehouse space.
      4615 S 33Rd Pl, Phoenix, AZ 85040
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,156 SF

      Phoenix Flex Space For Lease

      Flex/office buildings with parking and grade-level loading.
      4675 E Cotton Center Blvd, Phoenix, AZ 85040
      View Details
    • Contact for pricing
      20,230 SF

      New Shopping Center Retail Space

      Newly built shopping center retail space for lease.
      3404 W Southern Ave, Phoenix, AZ 85040
      View Details
    • $9,000 /Mo
      13,890 SF

      Phoenix Warehouse Space Available

      13,890 SF warehouse space for lease in Phoenix.
      3427 W Broadway Rd, Phoenix, AZ 85040
      View Details
    • $1.30 SF/Yr
      2,027 SF

      Phoenix Flex Space Available

      Flex space with office and easy highway access for lease.
      3702 E Roeser Rd, Phoenix, AZ 85040
      View Details
    • $16 SF/Yr
      144,466 SF

      Phoenix Flex/Industrial Space Available

      Flex/Industrial space available for lease in Phoenix, Arizona.
      4025 E Cotton Center Blvd, Phoenix, AZ 85040
      View Details
    • Contact for pricing
      19,076 SF

      Phoenix Office Space Available

      Move-in ready office space with amenities near Phoenix Sky Harbor.
      4615 E Elwood St, Phoenix, AZ 85040
      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.
    2211 Southern Ave
    Phoenix, AZ 85040-3408
    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.