Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    338 15th Ave Phoenix, AZ 85007-2402

    • Specialty properties
    • 16,820 SF
    • 2.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0915418
    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

    • Phoenix Rescue Mission | Changing Lives Center / Medical Clinic

    Property Details for 338 15th Ave

    Year built
    2009
    Construction
    CONCRETE
    Lot size
    2.93 lot acres
    Property size
    16,820 SF
    Zone code
    C-2
    Property type
    Specialty properties
    APN
    111-26-142D
    APU
    11126142D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $58,579,000
      Market price range: $5.05M - $339M
      AI Estimate
      $51,994,000
      Market price range: $4.13M - $327M

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.092
    Latitude
    33.4525
    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
    $143,105
    $0.00
    $0.00
    $1,921,170
    -
    $2,249,800
    $10,558,000
    $12,807,800

    Comparable in this City

    • Value Estimation
      $19,995,000
      2,618 SF

      1002 Van Buren St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,618 SF
      1002 Van Buren St, Phoenix, AZ 85007-2544
      View Details
    • Value Estimation
      $530,000
      1,300 SF

      1028 Grand Ave

      VETERINARY, ANIMAL HOSPITAL • 1,300 SF
      1028 Grand Ave, Phoenix, AZ 85007-2514
      View Details
    • Value Estimation
      $7,970,000
      2,425 SF

      1310 9th Ave

      CHARITABLE ORGANIZATION • 2,425 SF
      1310 9th Ave, Phoenix, AZ 85007-3921
      View Details
    • Value Estimation by Request
      23,960 SF

      Phoenix, AZ 85007

      CHARITABLE ORGANIZATION • 23,960 SF
      Phoenix, AZ 85007
      View Details
    • Value Estimation
      $6,330,000
      1,926 SF

      1330 Buckeye Rd

      CHARITABLE ORGANIZATION • 1,926 SF
      1330 Buckeye Rd, Phoenix, AZ 85007-3719
      View Details
    • Value Estimation
      $49,305,000
      15,000 SF

      723 Polk St

      CHARITABLE ORGANIZATION • 15,000 SF
      723 Polk St, Phoenix, AZ 85007-2538
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,988 SF

      Circle K Investment Property

      NNN leased Circle K in Phoenix, Arizona for sale.
      1842 W Grant St, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      2,680 SF

      Phoenix Retail NNN Investment Opportunity

      NNN leased retail property with long-term operating history near downtown.
      1602 S 7Th Ave, Phoenix, AZ 85007
      View Details
    • $645,000
      3,290 SF

      Versatile Commercial Property in Phoenix

      Adaptable 3,290 SF property suitable for various commercial uses.
      1130 W Fillmore St, Phoenix, AZ 85007
      View Details
    • $715,000
      Pending

      Phoenix Duplex with Carports

      Spacious duplex in Phoenix with modern amenities and carports.
      1523 W Hadley St, Phoenix, AZ 85007
      View Details
    • $515,500

      Renovated Multifamily Property in Phoenix

      Three units, renovated in 2024, Roosevelt Arts District location.
      325 N 17Th Dr, Phoenix, AZ 85007
      View Details
    • $625,000

      Value-Add Opportunity in Downtown Phoenix

      Mixed-use property with income potential in a developing urban neighborhood.
      215 N 12Th Ave, Phoenix, AZ 85007
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,000 SF

      Phoenix Industrial Space with Fenced Yard

      Industrial sublease with fenced yard, convenient freeway access, Phoenix location.
      2434 S 11Th Ave, Phoenix, AZ 85007
      View Details
    • $6 SF/Yr
      104,000 SF

      Downtown Phoenix Redevelopment Site

      Prime City Block, Huge Potential
      1450 7Th Ave, Phoenix, AZ 85007
      View Details
    • Contact for pricing

      Commercial Space Available For Rent

      Commercial property available for rent in Phoenix, Arizona.
      2120 South 7Th Ave, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      26,100 SF

      Phoenix Industrial Space For Lease

      Industrial space available for lease near Interstate 17.
      2125 S 11Th Ave, Phoenix, AZ 85007
      View Details
    • Contact for pricing
      85,516 SF

      Phoenix Industrial Space for Lease

      Industrial buildings with available space from 252,000 to 471,450 SF.
      7Th Ave, Phoenix, AZ 85007
      View Details
    • $16 SF/Yr
      40,000 SF

      Phoenix Warehouse Space Available

      Central Phoenix Warehouse - 1,000-30,000 SF
      2115 11Th Ave, Phoenix, AZ 85007
      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.
    338 15th Ave
    Phoenix, AZ 85007-2402
    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!