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Property profile & analytics
FOR LEASE
Flex space
2737 W Palm Ln Phoenix, AZ 85009
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-1378840
For Lease
1 / 3
$1,175,000
2737 W Palm Ln, Phoenix, AZ 85009
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1962
Construction
CONCRETE
Total area
4,432 SF
Lot
0.17 ac (7,405 SF)
Zoning code
C-3
APN
108-28-085F
UPID
US07-1378840
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
$1.21M
Blend (final)
Blend
$1.18M
Owner & transaction history
Maj Holdings LLC · 5 yrs held
Maj Holdings LLC
since 2021
7 recorded transactions
Zoning & alternative use
C-3 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+6.0%
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
INDUSTRIAL (GENERAL)
$1,330,000
Current use
AUTO REPAIR, GARAGE
$1,410,000
Change: +6% · Conversion: Easy
RETAIL STORES
$1,320,000
Change: -1% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,195,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$1,175,000
Change: -12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,130,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$265 / 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
$5,132
Tax year 2023
Assessed value
$64,383
Assessed 2024
Previous assessed
$49,096
+31.1% YoY
Effective rate
7.97%
On assessed value
Land market value
$65,500
Improvement market value
$324,700
Total market value
$390,200
Applied tax rate
51,300.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Lease
Year built
1962
Construction
CONCRETE
Heating
SPACE
Cooling
YES
Stories
1
Total area
4,432 SF
Lot
0.17 ac (7,405 SF)
Zoning code
C-3
APN
108-28-085F
UPID
US07-1378840
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Phoenix, AZ
Zoning C-3 · permitted uses
C-3 · 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
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1962
Construction
CONCRETE
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Maj Holdings LLC
Entity
Mailing address
32 W BOCA RATON RD, PHOENIX, AZ 85023-6208
Ownership since
2021
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
Sep 19, 2025
—
Maj Holdings LLC
—
Deed
related
$1,500,000 · Ks Statebank
Apr 20, 2021
—
Maj Holdings LLC
—
Deed
related
$560,375 · Ks Statebank
Feb 12, 2021
—
Maj Holdings LLC
Christopher R Baker
Warranty Deed
$450,000 · Ks Statebank
Mar 20, 2019
—
C R Baker
Baker,christopher R & Michele L
Quit Claim Deed
related
—
Aug 25, 2014
—
Christopher R Baker
Baker Christopher R & Mic
Quit Claim Deed
related
$564,100 · Big Sky Holdings LLC
Aug 25, 2014
$225,000
Christopher R Baker
Jewell,franklin E
Grant Deed
—
Jan 9, 2008
—
Franklin E Jewell
Blankenship,jack L
Warranty Deed
—
Sep 28, 1999
—
Jewell,franklin E & Sharon R
Blankenship,jack L
Trustees Deed
$145,000 · Seller
Sep 28, 1999
$155,000
Jack L Blankenship
Blankenship,jack L
Quit Claim Deed
related
—
Dec 6, 1996
—
Hoffmann Estate Trust
Lyle Hoffmann
Quit Claim 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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