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Property profile & analytics
OFF-MARKET
Estimated value
$2,040,000
Warehouses
22841 Cave Crk Rd Phoenix, AZ 85024-7597
Entity Owned
6-yr Hold
Free & Clear
Property ID
US07-0870837
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
CONCRETE
Total area
4,706 SF
Lot
117.89 ac (5,135,494 SF)
Zoning code
S-1
APN
213-02-169C
UPID
US07-0870837
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
-
Cave Creek Water Reclamation Plant Water Treatment Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$2.04M
Owner & transaction history
Arizona Public Service Co · 6 yrs held
Arizona Public Service Co
since 2019
1 recorded transaction
Zoning & alternative use
S-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of S-1 zone is to provide for very low density farm or residential uses to protect and preserve low density areas in their present or desired character
Zone name
Ranch Or Farm Residence
General category
RESIDENTIAL
Zone area
55,708.09 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$3.3M
+168.3%
Auto repair, garage
$2.0M
+62.8%
Office building
$1.4M
+15.6%
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
COMMERCIAL (GENERAL)
$3,275,000
Change: +168% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,990,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$1,410,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,400,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$1,250,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.04M
Range $1.84M – $2.24M · ±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
$433 / 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
Assessed value
$5,316,187
Assessed 2024
Previous assessed
$4,979,010
+6.8% YoY
Land market value
$29,539,500
Improvement market value
$5,901,745
Total market value
$35,441,245
Applied tax rate
691,300.0000
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
Off-Market
Year built
1999
Construction
CONCRETE
Heating
NONE
Buildings
12
Stories
1
Units
12
Total area
4,706 SF
Lot
117.89 ac (5,135,494 SF)
Zoning code
S-1
APN
213-02-169C
UPID
US07-0870837
Jurisdiction
MARICOPA
Zoning & alternative use
S-1 · Phoenix, AZZoning S-1 · permitted uses
S-1 · 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 S-1 zone is to provide for very low density farm or residential uses to protect and preserve low density areas in their present or desired character
Zone name
Ranch Or Farm Residence
General category
RESIDENTIAL
Zone area
55,708.09 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1999
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
12
Units
12
Lot
117.89 ac
Current owner
From public records · entity-resolved
Arizona Public Service Co
Entity
Free & Clear · 6 yrs held
Mailing address
251 W WASHINGTON ST FL, PHOENIX, AZ 85003-2295
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Dec 20, 2019
$425,000
Arizona Public Service Co
City Of Phoenix
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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