Add Listing
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

    2949 Jones Ave Phoenix, AZ 85040

    • Distribution centers
    • 3,880 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Jun 27, 2023
    $340,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3109002
    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

    • Distribution centers

    Property Details for 2949 Jones Ave

    Year built
    1984
    Lot size
    0.46 lot acres
    Property size
    3,880 SF
    Zone code
    A-1
    Property type
    Distribution centers
    APN
    122-17-051
    APU
    12217051

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.017
    Latitude
    33.4105
    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
    2022
    $8,753
    $0.00
    $0.00
    $107,184
    -
    $193,200
    $456,400
    $649,600

    Comparable in this City

    • Value Estimation
      $2,425,000
      11,676 SF

      3401 Wood St

      DISTRIBUTION WAREHOUSE • 11,676 SF
      3401 Wood St, Phoenix, AZ 85040-1832
      View Details
    • Value Estimation
      $27,795,000
      93,254 SF

      4135 Cotton Ctr Blvd

      DISTRIBUTION WAREHOUSE • 93,254 SF
      4135 Cotton Ctr Blvd, Phoenix, AZ 85040-8849
      View Details
    • Value Estimation
      $21,600,000
      7,544 SF

      Phoenix, AZ 85040

      DISTRIBUTION WAREHOUSE • 7,544 SF
      Phoenix, AZ 85040
      View Details
    • Value Estimation
      $10,680,000
      59,859 SF

      4022 20th St

      DISTRIBUTION WAREHOUSE • 59,859 SF
      4022 20th St, Phoenix, AZ 85040-1483
      View Details
    • Value Estimation
      $16,080,000
      39,765 SF

      2021 Jones Ave

      DISTRIBUTION WAREHOUSE • 39,765 SF
      2021 Jones Ave, Phoenix, AZ 85040-1495
      View Details
    • Value Estimation
      $2,670,000
      13,019 SF

      3804 Roeser Rd

      DISTRIBUTION WAREHOUSE • 13,019 SF
      3804 Roeser Rd, Phoenix, AZ 85040-3970
      View Details

    Similar Nearby for Sale

    • 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
    • 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
      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
    • Contact for pricing
      20,401 SF

      Phoenix Industrial Service Facility

      20,401 SF industrial facility with a large yard.
      4107 E Winslow Ave, Phoenix, AZ 85040
      View Details
    • Contact for pricing

      Freeway-Accessible Industrial Warehouse Space

      Move-in ready industrial warehouse near I-10 and I-17 junction.
      2327 E Jones Ave, Phoenix, AZ 85040
      View Details
    • Contact for pricing
      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

    Similar Nearby for Lease

    • $12 SF/Yr
      96,723 SF

      Broadway Commerce Center: Premier Office/Industrial Space

      Phoenix Office/Warehouse Suites Available Now
      4001 40Th St, Phoenix, AZ 85040
      View Details
    • $18 SF/Yr
      22,565 SF

      Phoenix Industrial Space For Lease

      Versatile warehouse/manufacturing space available
      3414 48Th St, Phoenix, AZ 85040
      View Details
    • $15 SF/Yr
      10,030 SF

      Elwood Warehouse Space For Lease

      10,030 SF Warehouse; 2,043 SF Available
      4202 Elwood St, Phoenix, AZ 85040
      View Details
    • $1.35 SF/Yr
      114,163 SF

      Cotton Center Blvd Warehouse

      Large Industrial Space Available Now
      4320 Cotton Center Blvd, Phoenix, AZ 85040
      View Details
    • $13 SF/Yr
      40,000 SF

      South 40 Commerce Center: Industrial Space

      Phoenix Industrial Space: Flexible Lease Options
      5002 40Th St, Phoenix, AZ 85040
      View Details
    • $16 SF/Yr
      5,400 SF

      Phoenix Warehouse Space Available

      1,800 SF Industrial Unit - Phoenix, AZ
      3815 Grove 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.
    2949 Jones Ave
    Phoenix, AZ 85040
    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!