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Property profile & analytics
OFF-MARKET
Estimated value
$24,960,000
Warehouses
2724 Glendale Ave Phoenix, AZ 85051
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-3442555
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2021
Total area
75,514 SF
Lot
2.04 ac (89,064 SF)
Zoning code
C-C
APN
151-24-018A
UPID
US07-3442555
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$33.04M
Blend (final)
Blend
$24.96M
Owner & transaction history
Black Canyon Owner LLC · 4 yrs held
Black Canyon Owner LLC
since 2022
Last sale
$24.0M
7 recorded transactions
Zoning & alternative use
C-C · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Public/Zoning (MapServer)
Top alternative use upside
Restaurant
$40.3M
+105.8%
Auto repair, garage
$31.9M
+62.8%
Office building
$22.7M
+15.6%
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
$24,740,000
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
$19,600,000
Current use
RESTAURANT
$40,325,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$31,910,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$22,660,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$22,500,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$20,045,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$19,220,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$24.96M
Range $22.46M – $27.46M · ±10% · vs last sale $24.00M (May 11 2022)
Last sale anchor
$24.00M
May 11 2022
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
$331 / 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
$168,441
Tax year 2023
Assessed value
$2,780,184
Assessed 2024
Previous assessed
$2,019,430
+37.7% YoY
Effective rate
6.06%
On assessed value
Land market value
$798,400
Improvement market value
$16,051,200
Total market value
$16,849,600
Applied tax rate
61,300.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Heating
NONE
Buildings
2
Stories
2
Total area
75,514 SF
Lot
2.04 ac (89,064 SF)
Zoning code
C-C
APN
151-24-018A
UPID
US07-3442555
Jurisdiction
MARICOPA
Zoning & alternative use
C-C · Phoenix, AZZoning C-C · permitted uses
C-C · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Public/Zoning (MapServer)
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$19.6M
RESTAURANT
Est. value
$40.3M
AUTO REPAIR, GARAGE
Est. value
$31.9M
OFFICE BUILDING
Est. value
$22.7M
RETAIL STORES
Est. value
$22.5M
MEDICAL BUILDING
Est. value
$20.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.2M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2021
Heating
NONE
Stories
2
Buildings
2
Lot
2.04 ac
Current owner
From public records · entity-resolved
Black Canyon Owner LLC
Entity
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2025
—
Breds V Mortgage Gs A LLC
—
Deed
related
—
Dec 9, 2024
—
Black Canyon Owner LLC
—
Deed
related
$148,000,000 · Breds V Mortgage Gs A LLC
May 11, 2022
$24,000,000
Black Canyon Owner LLC
Structured Rea Glendale Storage
Special Warranty Deed
$245,000,000 · Jpmorgan Chase Bank NA
Feb 25, 2020
$850,000
Structured Rea Glendale Storage LLC
Glen 27 LLC
Special Warranty Deed
$7,863,250 · Enterprise Bank & Trust
Nov 15, 2012
$357,500
Oreilly Automotive Stores
Glen 27 LLC
Grant Deed
—
Aug 14, 2006
$1,259,768
Glen 27 LLC
Solid Rock Resources LLC
Grant Deed
related
$600,000 · Private Individual
Oct 19, 2004
$535,000
Solid Rock Resources
Arizona Sugar Factory
Warranty Deed
$563,971 · Vision Trust (tr)
Jul 16, 2004
$202,000
Nbi LLC
Fidelity National Title
Trustees Deed
related
—
Feb 19, 2004
$145,000
Arizona Sugar Factory LLC
Shepherd,ethel C
Grant Deed
related
—
Jun 6, 2002
—
Ethel C Shepherd
Gas Express LLC
Grant Deed
related
$115,000 · Ted Goldstein
Apr 13, 2001
—
Gas Express LLC
Shepherd Trust
Grant Deed
related
$320,000 · Ted
—
—
Nbi LLC
—
Deed Of Trust
related
$2,500,000 · First National Bank Arizona
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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