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

    2909 Broadway Rd Phoenix, AZ 85040-2763

    • Industrial properties
    • 80,000 SF
    • 10.23 lot acres
    OFF-MARKET
    Value Estimations
    $17,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0934080
    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

    • Industrial properties

    Property Details for 2909 Broadway Rd

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    10.23 lot acres
    Property size
    80,000 SF
    Zone code
    CP/GCP
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    122-58-036
    APU
    12258036

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,879,000
      Market price range: $13.9M - $28.6M
      AI Estimate
      $17,122,000
      Market price range: $13.9M - $28.6M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $19,660,000
      Current use
      RETAIL STORES
      $23,840,000
      Change: +21% Conversion: Moderate
      WAREHOUSE, STORAGE
      $21,540,000
      Change: +10% Conversion: Easy
      MEDICAL BUILDING
      $21,235,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.019
    Latitude
    33.4057
    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
    $175,173
    $0.00
    $0.00
    $1,782,000
    -
    $2,116,500
    $8,683,500
    $10,800,000

    Comparable in this City

    • Value Estimation
      $17,460,000
      63,866 SF

      4303 Cotton Ctr Blvd

      INDUSTRIAL LOFT BUILDING • 63,866 SF
      4303 Cotton Ctr Blvd, Phoenix, AZ 85040-8877
      View Details
    • Value Estimation
      $2,050,000
      9,924 SF

      2135 Jones Ave

      INDUSTRIAL LOFT BUILDING • 9,924 SF
      2135 Jones Ave, Phoenix, AZ 85040-1470
      View Details
    • Value Estimation
      $2,350,000
      7,339 SF

      5226 40th St

      INDUSTRIAL LOFT BUILDING • 7,339 SF
      5226 40th St, Phoenix, AZ 85040-3918
      View Details
    • Value Estimation
      $1,510,000
      6,854 SF

      5011 36th St

      INDUSTRIAL LOFT BUILDING • 6,854 SF
      5011 36th St, Phoenix, AZ 85040-2906
      View Details
    • Value Estimation
      $6,460,000
      23,040 SF

      5213 30th St

      INDUSTRIAL LOFT BUILDING • 23,040 SF
      5213 30th St, Phoenix, AZ 85040-3745
      View Details
    • Value Estimation
      $3,250,000
      14,000 SF

      5631 24th St

      INDUSTRIAL LOFT BUILDING • 14,000 SF
      5631 24th St, Phoenix, AZ 85040-3605
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,800 SF

      Phoenix Industrial Warehouse Investment

      40,800 SF Warehouse, A-1 Zoning, Opportunity Zone
      3226 3Rd St, Phoenix, AZ 85040
      View Details
    • Contact for pricing
      40,800 SF

      Phoenix Industrial Warehouse Portfolio

      40,800 SF Warehouse, A-1 Zoning
      131 Victory St, Phoenix, AZ 85040
      View Details
    • $1,650,000

      Prime Phoenix Industrial Land

      64,530 SF Industrial Lot, $1.65M
      2833 Broadway Rd, Phoenix, AZ 85040
      View Details
    • $1,200,000
      5,400 SF

      Phoenix Industrial Land For Sale

      Industrial land in Phoenix, near I-10 and Sky Harbor.
      3949 S 28Th St, Phoenix, AZ 85040
      View Details
    • Contact for pricing
      10,300 SF

      Phoenix Industrial Land For Sale

      1.87 AC industrial site near I-10 and Sky Harbor.
      2801-2817 E Illini St, Phoenix, AZ 85040
      View Details
    • $2,380,320
      8,352 SF

      Freestanding Industrial Building For Sale

      Industrial building near Sky Harbor Airport with fenced yards.
      4828 S 40Th St, Phoenix, AZ 85040
      View Details

    Similar Nearby for Lease

    • $1.20 SF/Yr
      173,487 SF

      Phoenix Industrial Space For Lease

      Industrial space available for lease in central Phoenix, Arizona.
      4145-4249 S 37Th St, Phoenix, AZ 85040
      View Details
    • $1.15 SF/Yr
      173,487 SF

      Phoenix Industrial Space For Lease

      Industrial space available for lease in central Phoenix.
      4207-4248 S 36Th Pl, Phoenix, AZ 85040
      View Details
    • $1.25 SF/Yr
      40,000 SF

      Industrial Space with Fenced Yard

      Industrial space for lease with truckwells and large fenced yard.
      5002 S 40Th St, Phoenix, AZ 85040
      View Details
    • $1.35 SF/Yr
      264 SF

      Industrial Space Near Phoenix Airport

      Industrial property with convenient access to major transportation and amenities.
      4310 E Cotton Ctr Blvd | Phoenix, Phoenix, AZ 85040
      View Details
    • $1.20 SF/Yr
      2,602 SF

      Industrial Space in Westech Center

      Multi-tenant industrial space for lease in Phoenix, Arizona.
      4640 E Elwood St, Phoenix, AZ 85040
      View Details
    • $1.40 SF/Yr
      11,330 SF

      Phoenix Industrial Space Sublease

      Industrial space available for sublease in central Phoenix.
      4350 S 38Th St, Phoenix, AZ 85040
      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.
    2909 Broadway Rd
    Phoenix, AZ 85040-2763
    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.