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Property profile & analytics
OFF-MARKET
Estimated value
$1,825,000
Warehouses
2445 32nd St Phoenix, AZ 85008-2169
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US07-3369441
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Construction
CONCRETE
Total area
8,500 SF
Lot
0.49 ac (21,294 SF)
Zoning code
C-2
APN
120-05-107B
UPID
US07-3369441
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
-
Avant-Garde William & Company Floral Design Studio (Bike/Boat/Book/etc) Store Florist
-
AG Bridal Packages (Bike/Boat/Book/etc) Store Florist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.83M
Owner & transaction history
Ag Holdings LLC · 14 yrs held
Ag Holdings LLC
since 2011
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Top alternative use upside
Office building
$2.6M
+16.0%
Medical building
$2.3M
+2.3%
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
$2,205,000
Current use
OFFICE BUILDING
$2,560,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$2,255,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,165,000
Change: -2% · Conversion: Moderate
RETAIL STORES
$2,045,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.83M
Range $1.64M – $2.01M · ±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
$215 / 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
$10,892
Tax year 2023
Assessed value
$154,803
Assessed 2024
Previous assessed
$100,317
+54.3% YoY
Effective rate
7.04%
On assessed value
Land market value
$454,200
Improvement market value
$484,000
Total market value
$938,200
Applied tax rate
141,300.0000
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
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
8,500 SF
Lot
0.49 ac (21,294 SF)
Zoning code
C-2
APN
120-05-107B
UPID
US07-3369441
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning C-2 · permitted uses
C-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
RETAIL STORES
Est. value
$2.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1973
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Ag Holdings LLC
Entity
Mailing address
803 N 7TH ST, PHOENIX, AZ 85006-3209
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2018
—
Ag Holdings LLC
—
Deed
related
$302,000 · Enterprise Bank & Trust
Dec 19, 2011
$455,000
Ag Holdings LLC
Sbaz Real Estate Holdings LLC
Special Warranty Deed
$556,505 · The Biltmore Bank Of Arizona
Jan 13, 2011
$377,294
Sbaz Real Estate Holdings LLC
Horwitz,ronald M
Trustees Deed
related
—
Jan 16, 2003
$565,000
Bergerson Holdings LLC
Ilkc Properties LLC
Grant Deed
related
$395,500 · Camelback Community Bank
Nov 27, 2000
$525,000
Ilkc Properties LLC
Cho,dong A & Mi S
Grant Deed
$575,000 · First Denver Realty Advisors
Sep 3, 1997
$350,000
Dong A Cho
Jay C & Betty J Snow
Grant Deed
—
Oct 24, 1990
$305,000
Jay C Snow
American Contine
Grant Deed
$185,000
—
—
Ag Holdings LLC
—
Deed Of Trust
related
$357,500 · Biltmore Bank Of Arizona
—
—
Ag Holdings LLC
—
Deed Of Trust
related
$286,000 · Biltmore Bank Of Arizona
—
—
Borgerson Holdings LLC
—
Deed Of Trust
related
$550,000 · Camelback Community Bank
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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