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Property profile & analytics
OFF-MARKET
Estimated value
$3,090,000
Industrial properties
2219 2nd Pl Phoenix, AZ 85004-2902
Entity Owned
24-yr Hold
Free & Clear
Property ID
US07-0814389
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1979
Construction
CONCRETE
Total area
7,821 SF
Lot
2.26 ac (98,332 SF)
Zoning code
A-1
APN
112-42-016
UPID
US07-0814389
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
-
Penske Used Truck Center Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.10M
Blend (final)
Blend
$3.09M
Owner & transaction history
Penske Truck Leasing Co LP · 24 yrs held
Penske Truck Leasing Co LP
since 2002
1 recorded transaction
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+142.7%
Auto repair, garage
$3.3M
+92.1%
Office building
$2.4M
+37.4%
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
RESTAURANT
$4,175,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,305,000
Change: +92% · Conversion: Easy
OFFICE BUILDING
$2,365,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$2,330,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$2,075,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,030,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$3.09M
Range $2.78M – $3.40M · ±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
$395 / 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
$27,416
Tax year 2023
Assessed value
$335,412
Assessed 2024
Previous assessed
$312,222
+7.4% YoY
Effective rate
8.17%
On assessed value
Land market value
$1,254,500
Improvement market value
$778,300
Total market value
$2,032,800
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1979
Construction
CONCRETE
Heating
SPACE
Cooling
YES
Stories
1
Total area
7,821 SF
Lot
2.26 ac (98,332 SF)
Zoning code
A-1
APN
112-42-016
UPID
US07-0814389
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZ
Zoning A-1 · permitted uses
A-1 · 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
RESTAURANT
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.4M
RETAIL STORES
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1979
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Lot
2.26 ac
Current owner
From public records · entity-resolved
Penske Truck Leasing Co LP
Entity
Free & Clear · 24 yrs held
Mailing address
2675 MORGANTOWN RD, READING, PA 19607-9676
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2002
$1,350,000
Penske Truck Leasing Co LP
Rogers,glenn R
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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