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Property profile & analytics
OFF-MARKET
Estimated value
$8,610,000
Industrial properties
2424 21st St Phoenix, AZ 85034-6719
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-2167243
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
2001
Construction
CONCRETE
Total area
29,620 SF
Lot
2.3 ac (100,226 SF)
Zoning code
A-2
APN
115-32-040E
UPID
US07-2167243
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
-
Quality Distributors, LLC Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.89M
Blend (final)
Blend
$8.61M
Owner & transaction history
Exeter 2424 S 21st LP · 1 yrs held
Exeter 2424 S 21st LP
since 2024
Last sale
$9.5M
7 recorded transactions
Zoning & alternative use
A-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.5M
+133.2%
Retail stores
$8.8M
+64.5%
Medical building
$7.9M
+46.5%
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
$7,895,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,365,000
Current use
AUTO REPAIR, GARAGE
$12,515,000
Change: +133% · Conversion: Easy
RETAIL STORES
$8,825,000
Change: +64% · Conversion: Moderate
MEDICAL BUILDING
$7,860,000
Change: +47% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,540,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$8.61M
Range $7.75M – $9.47M · ±10% · vs last sale $9.50M (May 23 2024)
Last sale anchor
$9.50M
May 23 2024
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
$291 / 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
$71,999
Tax year 2023
Assessed value
$856,944
Assessed 2024
Previous assessed
$809,013
+5.9% YoY
Effective rate
8.40%
On assessed value
Land market value
$1,141,700
Improvement market value
$4,051,900
Total market value
$5,193,600
Applied tax rate
71,300.0000
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
2001
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
29,620 SF
Lot
2.3 ac (100,226 SF)
Zoning code
A-2
APN
115-32-040E
UPID
US07-2167243
Jurisdiction
MARICOPA
Zoning & alternative use
A-2 · Phoenix, AZ
Zoning A-2 · permitted uses
A-2 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$12.5M
RETAIL STORES
Est. value
$8.8M
MEDICAL BUILDING
Est. value
$7.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
2001
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.3 ac
Current owner
From public records · entity-resolved
Exeter 2424 S 21st LP
Entity
Mailing address
3500 MAPLE AVE STE #1600, DALLAS, TX 75219-3936
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2024
$9,500,000
Exeter 2424 S 21st LP
Lcg2i 2424 21st Street LLC
Special Warranty Deed
$195,525,000 · Nationwide Life And Annuity Insuran
Jun 29, 2023
$6,884,000
Lcg 2i 2424 21st Street LLC
Sky Harbor 2424 LLC
Special Warranty Deed
—
Apr 21, 2023
$3,000,000
Webb Management & Invesments LLC
Twt Real Estate Investments LLC
Special Warranty Deed
—
Dec 13, 2018
—
Layman Properties-east Unvi Dr
Twt R/e Invs LLC
Grant Deed
related
—
Aug 30, 2016
—
Twt Real Estate Invs LLC
Thomas,terence W
Quit Claim Deed
related
—
Aug 23, 2013
—
Twt Real Estate Invs LLC
Thomas,terence W
Quit Claim Deed
related
—
Jul 11, 2008
—
Terence W Thomas
Owner Name Unavailable
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
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