3602 E Southern Ave 6 Phoenix, AZ 85040
Warehouses
Google Maps
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
For Lease
1 / 8
$5,980,000
3602 E Southern Ave,Unit 6, Phoenix, AZ 85040
View Listing →
Estimated value (blended)
$5.98M
Range $5.38M – $6.58M (±10%)
Property ID
US07-0999233
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
CONCRETE
Total area
23,520 SF
Lot
15.71 ac (684,284 SF)
Zoning code
CP/GCP
APN
122-76-112
UPID
US07-0999233
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Security Service
-
Factory Industrial Manufacturer
-
Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.96M
Blend (final)
Blend
$5.98M
Owner & transaction history
since 2002
7 recorded transactions
Zoning & alternative use
CP/GCP · Phoenix, AZ
Zoning description
The most flexible option provides for a broad range of manufacturing, warehousing, distribution and supportive retail sales and services
General category
INDUSTRIAL
Top alternative use upside
Office building
$13.3M
+110.5%
Restaurant
$12.6M
+98.3%
Commercial (general)
$12.2M
+93.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 7 comparables with addresses
8 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$5.98M
Value range
$5.38M – $6.58M
±10% around blend
Estimated value / SF
$254 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
Income certainty
100
$5.38M
blend $5.98M
$6.58M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
23,520 SF
Lot area
15.71 ac
Year built
1999
Stories
1
APN
122-76-112
Assessed value
$5,421,570
Annual tax
$327,691
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$327,691
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$4.08M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.9 mi away · 26,996 SF
2.0 mi away · 21,511 SF
3.0 mi away · 19,785 SF
5.5 mi away · 28,606 SF
6.9 mi away · 21,114 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.98M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 89 sales
$269
-6%
Submarket 569 sales
$260
-2%
County 1139 sales
$205
+24%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $254/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+110%
vs current-use indication
Restaurant
Commercial (general)
Auto Repair, Garage
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
1,952,206.90%
Selected cap rate for this warehouses
Derived from the Phoenix market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$28k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1,952,206.40%1,952,206.90%1,952,207.40%
$25k
$1
$1
$1
$28k
$1
$1
$1
$31k
$1
$1
$1
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$2.00M
0.4 mi · Oct 2025 · $98/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$327,691
Tax year 2023
Assessed value
$5,421,570
Assessed 2024
Previous assessed
$4,509,845
+20.2% YoY
Effective rate
6.04%
On assessed value
Land market value
$4,037,300
Improvement market value
$28,820,700
Total market value
$32,858,000
Applied tax rate
661,300.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
10
Stories
1
Units
8
Rooms
4
Bathrooms
1
Total area
23,520 SF
Lot
15.71 ac (684,284 SF)
Zoning code
CP/GCP
APN
122-76-112
UPID
US07-0999233
Jurisdiction
MARICOPA
Zoning & alternative use
CP/GCP · Phoenix, AZZoning CP/GCP · permitted uses
CP/GCP · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The most flexible option provides for a broad range of manufacturing, warehousing, distribution and supportive retail sales and services
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
10
Units
8
Rooms
4
Bathrooms
1
Lot
15.71 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CP/GCP
INDUSTRIAL
Jurisdiction
Phoenix, AZ
Recorded code
CP/GCP
Official district
CP/GCP
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CP/GCP in Phoenix, AZ.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
