Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2640 37th Ave Phoenix, AZ 85009-1326
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2640 37th Ave Phoenix, AZ 85009-1326

    View on Map
    • Flex space
    • 9,860 SF
    • 0.58 lot acres
    Off-Market
    Property ID
    US07-0831087
    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.
    Value Estimations
    $3,510,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Steel Advantage Powder Coating & Metal Fabrication / Metal Fabrication Plant / Factory
    • The Self Service / Car Wash
    • Steel Advantage Security Doors, Screens, Gates, and Patio / Metal Fabrication Plant / Factory
    • & Metal Fabrication / Metal Fabrication Plant / Factory
    • Steel Advantage Security Doors and Gates / Hardware & Home Improvement / Production Facility

    Property Details for 2640 37th Ave

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    0.58 lot acres
    Property size
    9,860 SF
    Zone code
    IND.PK.
    Property type
    Flex space
    APN
    108-11-057D
    APU
    10811057D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,599,000
      Market price range: $1.04M - $5.55M
      AI Estimate
      $3,417,000
      Market price range: $844k - $5.51M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,960,000
      Current use
      RESTAURANT
      $5,265,000
      Change: +78% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,135,000
      Change: +6% Conversion: Easy
      RETAIL STORES
      $2,940,000
      Change: -1% Conversion: Moderate
      WAREHOUSE, STORAGE
      $2,660,000
      Change: -10% Conversion: Easy
      MEDICAL BUILDING
      $2,615,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.139
    Latitude
    33.4777
    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
    $14,919
    $0.00
    $0.00
    $191,846
    -
    $154,300
    $1,008,400
    $1,162,700

    Comparable in this City

    • Value Estimation
      $1,625,000
      5,898 SF

      2001 35th Ave

      LIGHT INDUSTRIAL • 5,898 SF
      2001 35th Ave, Phoenix, AZ 85009-2352
      View Details
    • Value Estimation
      $4,555,000
      10,878 SF

      1414 25th Ave

      LIGHT INDUSTRIAL • 10,878 SF
      1414 25th Ave, Phoenix, AZ 85009-3614
      View Details
    • Value Estimation
      $4,545,000
      8,384 SF

      2602 37th Dr

      LIGHT INDUSTRIAL • 8,384 SF
      2602 37th Dr, Phoenix, AZ 85009-1347
      View Details
    • Value Estimation
      $21,230,000
      26,376 SF

      3740 Van Buren St

      LIGHT INDUSTRIAL • 26,376 SF
      3740 Van Buren St, Phoenix, AZ 85009-4103
      View Details
    • Value Estimation
      $3,575,000
      10,000 SF

      2821 Van Buren St

      LIGHT INDUSTRIAL • 10,000 SF
      2821 Van Buren St, Phoenix, AZ 85009-4944
      View Details
    • Value Estimation
      $7,035,000
      25,955 SF

      2644 37th Dr

      LIGHT INDUSTRIAL • 25,955 SF
      2644 37th Dr, Phoenix, AZ 85009
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,000 SF

      Phoenix Industrial Flex Property For Sale

      Industrial flex property in Phoenix, suitable for various business uses.
      723 S 37Th Ave, Phoenix, AZ 85009
      View Details
    • $775,000
      708 SF

      Renovated Industrial Flex Space

      Renovated industrial flex space with heavy industrial zoning.
      431 S 31St Ave, Phoenix, AZ 85009
      View Details
    • $1,795,000
      2,984 SF

      Industrial Property with Freeway Access

      Warehouse with frontage and proximity to I-10 Freeway.
      225 S 35Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      18,000 SF

      Phoenix Industrial Property with Canopy

      Versatile industrial property with canopy and multiple loading options.
      2224 N 23Rd Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      18,700 SF

      Leased Multi-Tenant Industrial Building

      18,700 SF industrial building near I-17 and I-10.
      1011-1021 N 21St Ave, Phoenix, AZ 85009
      View Details
    • $4,200,000

      Phoenix Warehouse with Grade Doors

      Phoenix warehouse featuring nine grade level doors for sale.
      2212 North 27Th Ave, Phoenix, AZ 85009
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,046 SF

      Phoenix Industrial Property with Yard

      Industrial property with shop, office, and secured yard for lease.
      1313 N 25Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      1,900 SF

      Phoenix Flex Space For Rent

      Flex space available for rent in Phoenix, Arizona.
      3647-3653 N 35Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      5,000 SF

      Industrial Office/Warehouse Space Available

      5,000 SF industrial space with office and warehouse components.
      2218 W Jackson St, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      8,001 SF

      Phoenix Warehouse with Office Space

      8,001 SF warehouse with 4,000 SF office space.
      3743 W Roanoke Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      127,042 SF

      Phoenix Warehouse with Secured Storage

      Phoenix warehouse featuring secured storage, dock doors, and ample parking.
      1439 S 40Th Ave, Phoenix, AZ 85009
      View Details
    • Contact for pricing
      188,300 SF

      Phoenix Warehouse Space Available

      Warehouse space available in Phoenix with excellent freeway access.
      1515 South 27Th Ave, Phoenix, AZ 85009
      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.
    2640 37th Ave
    Phoenix, AZ 85009-1326
    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.
    Sign Up Successful!
    You now have access to more from Realmo!