New search
Property profile & analytics
FOR LEASE
Warehouses
2215 W Melinda Ln, Phoenix, AZ 85027
Trust Owned
10-yr Hold
Free & Clear
Property ID
US07-0092708
For Lease
1 / 2
$1.05 SF/Yr
2215 W Melinda Ln, Phoenix, AZ 85027
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Construction
CONCRETE
Total area
9,226 SF
Lot
0.44 ac (19,346 SF)
Zoning code
IND.PK.
APN
209-06-159
UPID
US07-0092708
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
-
TEK Industries Inc Industrial Manufacturer
-
Kiwi Services Air Duct Cleaning Service Fire Damage Restoration Service
-
Belsito Plumbing Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$2.15M
Owner & transaction history
Peterson Living Trust · 10 yrs held
Peterson Living Trust
since 2016
5 recorded transactions
Zoning & alternative use
IND.PK. · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.4M
+48.4%
Retail stores
$2.8M
+19.1%
Medical building
$2.5M
+6.1%
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
$2,310,000
Current use
OFFICE BUILDING
$3,425,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$2,750,000
Change: +19% · Conversion: Moderate
MEDICAL BUILDING
$2,450,000
Change: +6% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,350,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$2.15M
Range $1.94M – $2.37M · ±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
$233 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$13,394
Tax year 2022
Assessed value
$251,295
Assessed 2024
Previous assessed
$201,960
+24.4% YoY
Effective rate
5.33%
On assessed value
Land market value
$347,800
Improvement market value
$1,175,200
Total market value
$1,523,000
Applied tax rate
971,300.0000
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
WAREHOUSE, STORAGE
Status
For Lease
Year built
1998
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
9,226 SF
Lot
0.44 ac (19,346 SF)
Zoning code
IND.PK.
APN
209-06-159
UPID
US07-0092708
Jurisdiction
MARICOPA
Zoning & alternative use
IND.PK. · Phoenix, AZ
Zoning IND.PK. · permitted uses
IND.PK. · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.3M
OFFICE BUILDING
Est. value
$3.4M
RETAIL STORES
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
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
1998
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Peterson Living Trust
Trust
Free & Clear · 10 yrs held
Mailing address
6210 MACDUFF DR, GRANITE BAY, CA 95746-9684
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2016
$1,045,000
Peterson Living Trust
Shaw Melinda Property LLC
Grant Deed
—
Mar 1, 2016
—
Shaw Melinda Property LLC
Shaw Alfred Trust
Quit Claim Deed
related
—
Aug 15, 2007
—
Shaw Alfred Trust
Shaw,alfred
Quit Claim Deed
related
—
Dec 3, 2004
$925,000
Alfred Shaw
Jjj & Associates LLC
Warranty Deed
$740,000 · Home National Bank
Nov 4, 1998
—
Jjj & Associates LLC
Helms,f D
Grant Deed
related
—
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.
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
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
