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Property profile & analytics
OFF-MARKET
Estimated value
$3,155,000
Refrigerated & Cold Storage
2311 Jones Ave Phoenix, AZ 85040-1468
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-2665234
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
1990
Construction
CONCRETE
Total area
15,634 SF
Lot
1.05 ac (45,659 SF)
Zoning code
A-1
APN
122-34-017
UPID
US07-2665234
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
-
Integrity Contents Services General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$3.16M
Owner & transaction history
2311 E Jones Avenue LLC · 6 yrs held
2311 E Jones Avenue LLC
since 2019
7 recorded transactions
Zoning & alternative use
A-1 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of A-1 zone is to provide industrial uses designed to serve the needs of the community for industrial activity not offensive to nearby commercial and residential uses
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
16,992.51 ac
Source
Realmo
Top alternative use upside
Retail stores
$4.7M
+10.7%
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
$4,210,000
Current use
RETAIL STORES
$4,660,000
Change: +11% · Conversion: Moderate
MEDICAL BUILDING
$4,150,000
Change: -1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,980,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$3.16M
Range $2.84M – $3.47M · ±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
$202 / 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
$25,930
Tax year 2023
Assessed value
$329,621
Assessed 2024
Previous assessed
$329,621
+0.0% YoY
Effective rate
7.87%
On assessed value
Land market value
$370,500
Improvement market value
$1,627,200
Total market value
$1,997,700
Applied tax rate
661,300.0000
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
1990
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
15,634 SF
Lot
1.05 ac (45,659 SF)
Zoning code
A-1
APN
122-34-017
UPID
US07-2665234
Jurisdiction
MARICOPA
Zoning & alternative use
A-1 · Phoenix, AZZoning 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
Zoning description
The purpose of A-1 zone is to provide industrial uses designed to serve the needs of the community for industrial activity not offensive to nearby commercial and residential uses
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
16,992.51 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.2M
RETAIL STORES
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
WAREHOUSE, STORAGE Current
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
1990
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
1.05 ac
Current owner
From public records · entity-resolved
2311 E Jones Avenue LLC
Entity
Mailing address
3818 N 25TH PL, PHOENIX, AZ 85016
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2020
—
Midfirst Bank
—
Deed
related
$857,500 · Business Development Finance Corp
Dec 3, 2019
$1,715,000
2311 E Jones Avenue LLC
Advanced Materials Technologies LLC
Special Warranty Deed
$707,000 · Business Development Finance Corp
Apr 26, 2019
$1,150,000
Advanced Materials Technolo
Pacific Seafood-phoenix Ll
Grant Deed
$1,180,000 · Commerce Bk/az
Oct 30, 2007
$1,475,000
Pacific Sea Food Of Arizona INC
East Coast Seafood Of Phoenix INC
Grant Deed
—
Aug 17, 1988
$200,000
East Coast Seafo
Micha
Grant Deed
related
—
Aug 1, 1987
$200,000
Michael Aviano
Don C
Grant Deed
related
—
—
—
East Coast Seafood Of Phoenix
—
Deed Of Trust
related
$5,000,000 · Wells Fargo Bank Arizona
—
—
East Coast Seafood Of Phoenix In
—
Deed Of Trust
related
$414,000 · Bank Of Arizona
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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