Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2606 Greenway Pkwy Phoenix, AZ 85032-3601

    • Assisted living facilities
    • 6,119 SF
    • 5.76 lot acres
    OFF-MARKET
    Value Estimations
    $2,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0139186
    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

    • Sree Devi Kumaravel / Internist / Practitioner Service Location
    • Sunshine Village Memory Care / Assisted Living Facility / Nursing Home

    Property Details for 2606 Greenway Pkwy

    Year built
    1999
    Construction
    STEEL FRAME
    Lot size
    5.76 lot acres
    Property size
    6,119 SF
    Zone code
    R-3
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    214-40-368D
    APU
    21440368D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,001,000
      Market price range: $808k - $2.00M
      AI Estimate
      $2,001,000
      Market price range: $793k - $2.00M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,385,000
      Current use
      RESTAURANT
      $3,270,000
      Change: +136% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,585,000
      Change: +87% Conversion: Difficult
      OFFICE BUILDING
      $1,850,000
      Change: +33% Conversion: Difficult
      RETAIL STORES
      $1,720,000
      Change: +24% Conversion: Difficult
      MEDICAL BUILDING
      $1,625,000
      Change: +17% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,590,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.025
    Latitude
    33.6298
    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
    $46,689
    $0.00
    $0.00
    $720,210
    -
    $1,759,600
    $5,196,152
    $6,955,752

    Comparable in this City

    • Value Estimation by Request
      1,364 SF

      16416 38th St

      HOMES (RETIRED, NURSING) • 1,364 SF
      16416 38th St, Phoenix, AZ 85032-3216
      View Details
    • Value Estimation
      $3,275,000
      10,005 SF

      12635 42nd St

      HOMES (RETIRED, NURSING) • 10,005 SF
      12635 42nd St, Phoenix, AZ 85032-7601
      View Details
    • Value Estimation
      $975,000
      5,013 SF

      17442 28th St

      HOMES (RETIRED, NURSING) • 5,013 SF
      17442 28th St, Phoenix, AZ 85032-1903
      View Details
    • Value Estimation
      $540,000
      2,005 SF

      3437 Monte Cristo Ave

      HOMES (RETIRED, NURSING) • 2,005 SF
      3437 Monte Cristo Ave, Phoenix, AZ 85032-3853
      View Details
    • Value Estimation
      $555,000
      2,652 SF

      13811 38th St

      HOMES (RETIRED, NURSING) • 2,652 SF
      13811 38th St, Phoenix, AZ 85032-5713
      View Details
    • Value Estimation
      $12,115,000
      37,031 SF

      4050 Bluefield Ave

      HOMES (RETIRED, NURSING) • 37,031 SF
      4050 Bluefield Ave, Phoenix, AZ 85032-1445
      View Details

    Similar Nearby for Sale

    • $290,000
      1,188 SF

      Active Adult Community Home

      Immaculate 2BR home in a vibrant 55+ Phoenix community.
      16416 N 33Rd St, Phoenix, AZ 85032
      View Details
    • $850,000
      1.07 Acres

      Phoenix Horse Property Opportunity

      1.06-acre horse property with utilities in Phoenix, Arizona.
      15621 N 37Th St, Phoenix, AZ 85032
      View Details
    • $399,900
      0.03 Acres

      3313 Thunderbird Rd, Phoenix, AZ 85032

      Commercial real estate • 0.03 Acres
      3313 Thunderbird Rd, Phoenix, AZ 85032
      View Details
    • $499,000
      0.85 Acres

      Phoenix Land Development Opportunity

      Expansive parcel zoned for multi-family use in Phoenix, Arizona.
      2827 - A B C, Phoenix, AZ 85032
      View Details
    • $568,500
      1,516 SF

      Phoenix Office Suite For Sale

      Single-story office suite in North Phoenix's Paradise Valley submarket.
      15255 40Th St, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      77,505 SF

      Office Building at Paradise Valley

      Office building under construction, part of a $2B redevelopment.
      4625 E Paradise Village Pkwy N, Phoenix, AZ 85032
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      7,479 SF

      Phoenix Medical Office Space for Lease

      7,479 SF Medical Office Building, 2,260 SF Available
      3933 Edna Ave, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      23,059 SF

      Medical Plaza at Abrazo Scottsdale

      Medical/office space with high visibility and convenient access.
      3805 East Bell Rd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      122,063 SF

      Scottsdale Medical Office Plaza

      Class A Medical Office Building, Phoenix
      3815 Bell Rd, Phoenix, AZ 85032
      View Details
    • $17 SF/Yr
      41,979 SF

      Phoenix Medical Office Plaza

      Prime Phoenix medical suites available
      16601 40Th St, Phoenix, AZ 85032
      View Details
    • $22 SF/Yr
      22,914 SF

      Prime Phoenix Medical Office Space

      North Phoenix medical suites available.
      16421 Tatum Blvd, Phoenix, AZ 85032
      View Details
    • Contact for pricing
      104,525 SF

      Paradise Valley Medical Office Space

      Class A medical office building, prime location.
      3805 Bell Rd, Phoenix, AZ 85032
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2606 Greenway Pkwy
    Phoenix, AZ 85032-3601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.