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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    235 S 56Th St Chandler, AZ 85226

    • Distribution centers
    • 62,059 SF
    • 5.26 lot acres
    For Sale
    View listing
    Last Sale
    Sep 30, 2022
    $16,750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1278358
    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

    • Distribution centers

    Property Details for 235 S 56Th St

    Year built
    1984
    Construction
    CONCRETE
    Lot size
    5.26 lot acres
    Property size
    62,059 SF
    Zone code
    I-1
    Property type
    Distribution centers
    APN
    301-85-835
    APU
    30185835

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,147,000
      Market price range: $10.7M - $28.5M
      AI Estimate
      $20,377,000
      Market price range: $10.5M - $24.0M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $16,270,000
      Current use
      RETAIL STORES
      $28,045,000
      Change: +72% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $23,895,000
      Change: +47% Conversion: Easy
      OFFICE BUILDING
      $14,115,000
      Change: -13% Conversion: Difficult
      MEDICAL BUILDING
      $13,110,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chandler
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.962
    Latitude
    33.301
    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
    $116,169
    $0.00
    $0.00
    $2,211,066
    -
    $2,473,600
    $10,926,800
    $13,400,400

    Comparable in this City

    • Value Estimation
      $31,885,000
      75,310 SF

      150 Kyrene Rd

      DISTRIBUTION WAREHOUSE • 75,310 SF
      150 Kyrene Rd, Chandler, AZ 85226-4415
      View Details
    • Value Estimation
      $3,650,000
      14,400 SF

      436 Austin Dr

      DISTRIBUTION WAREHOUSE • 14,400 SF
      436 Austin Dr, Chandler, AZ 85226-2634
      View Details
    • Value Estimation
      $4,300,000
      12,600 SF

      18 Roosevelt Ave

      DISTRIBUTION WAREHOUSE • 12,600 SF
      18 Roosevelt Ave, Chandler, AZ 85226-3413
      View Details
    • Value Estimation
      $11,735,000
      49,250 SF

      7240 Erie St

      DISTRIBUTION WAREHOUSE • 49,250 SF
      7240 Erie St, Chandler, AZ 85226-2445
      View Details
    • Value Estimation
      $31,945,000
      134,015 SF

      601 54th St

      DISTRIBUTION WAREHOUSE • 134,015 SF
      601 54th St, Chandler, AZ 85226-4205
      View Details
    • Value Estimation by Request
      10,000 SF

      5773 Erie St

      DISTRIBUTION WAREHOUSE • 10,000 SF
      5773 Erie St, Chandler, AZ 85226-2749
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Stellar Airpark Industrial Yard

      Chandler, AZ: 117,351 SF Industrial Space
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      39,200 SF

      Chandler Warehouse with Spec Office

      39,200 SF single-tenant building with 32' clear height.
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      105,000 SF

      Industrial Warehouse with Rail Access

      105,000 SF warehouse with cross-dock, rail access, yard.
      235 S 56Th St, Chandler, AZ 85226
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    • Contact for pricing
      1,070,334 SF

      Tilt-Wall Logistics and Distribution Assets

      Portfolio of eleven logistics and distribution assets with value-add opportunity.
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      View Details
    • $1,700,000
      5,220 SF

      Chandler Flex Industrial Condo

      5,220 SF flex industrial condo with secured yard.
      106 S 54Th St, Chandler, AZ 85226
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    • $13,500,000
      58,699 SF

      Chandler Warehouse with HVAC System

      HVAC warehouse with dock and grade level doors in Chandler.
      6900 W Morelos Pl, Chandler, AZ 85226
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    Similar Nearby for Lease

    • $15 SF/Yr
      8,980 SF

      East Valley Warehouse Space Available

      Phoenix industrial warehouse, 8,980 sqft.
      6503 Frye Rd, Chandler, AZ 85226
      View Details
    • Contact for pricing
      44,317 SF

      Chandler Industrial Warehouse

      ±44,317 SF Warehouse, Ready for Occupancy
      7100 Erie St, Chandler, AZ 85226
      View Details
    • $16 SF/Yr
      25,435 SF

      Chandler Flex/Warehouse Space Available

      Modern industrial space, I-10 frontage, flexible layouts.
      7408 Detroit St, Chandler, AZ 85226
      View Details
    • Contact for pricing
      32,045 SF

      Chandler Industrial Property

      ±32,045 SF Warehouse, Ready Now
      400 56Th St, Chandler, AZ 85226
      View Details
    • $14 SF/Yr
      13,350 SF

      Tempe Business Park Office/Warehouse

      1,300 SF Office Space Available Now
      1724 10Th Pl, Tempe, AZ 85226
      View Details
    • $1.25 SF/Yr
      9,070 SF

      Chandler Warehouse Space Available

      9,070 SF warehouse with office space for lease.
      5770 W Erie St, Chandler, AZ 85226
      View Details
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    235 S 56Th St
    Chandler, AZ 85226
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    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
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