Back to Search
Property profile & analytics
FOR LEASE
Office buildings
3829 N 3Rd St Phoenix, AZ 85012
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-3216123
For Lease
Contact for pricing
3829 N 3Rd St, Phoenix, AZ 85012
View Listing →
Property summary
AI-generated overview
This vacant 8,786 square foot industrial building, located at 3829 N 3rd St, Phoenix, AZ 85012, presents a unique owner-user opportunity in Midtown Phoenix. The property, situated on a 0.42-acre lot (APN: 118-24-088 & 118-24-089), is zoned C-2 and offers a flexible layout suitable for multi-tenant or single-tenant occupancy. Built in 1972, this Class B building boasts a 70/30 office-to-warehouse ratio, featuring nine offices, three bathrooms, and a kitchen. The warehouse area offers a 14-foot clear height, two 12' x 10' grade-level doors, and a mezzanine for additional storage. Cooling is a blend of HVAC and evaporative systems, covering 50% of the warehouse each. The building also benefits from 800A 240V power (buyer to verify) and prominent monument signage. This versatile property is ideal for a business seeking a blend of office and warehouse space in a prime Phoenix location. The property is currently vacant and ready for immediate occupancy.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Construction
CONCRETE
Total area
2,433 SF
Lot
0.21 ac (9,050 SF)
Zoning code
C-2
APN
118-24-089
UPID
US07-3216123
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
Current use
Occupant on record · Public records
-
Monument Hobbies (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$719k
Blend (final)
Blend
$1.17M
Owner & transaction history
M O N Holdings LLC · 2 yrs held
M O N Holdings LLC
since 2023
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.7M
+332.1%
Auto repair, garage
$1.0M
+162.1%
Retail stores
$725,000
+84.9%
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
COMMERCIAL (GENERAL)
$1,695,000
Change: +332% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,030,000
Change: +162% · Conversion: Difficult
RETAIL STORES
$725,000
Change: +85% · Conversion: Moderate
Blend value · Realmo final
$1.17M
Range $1.05M – $1.29M · ±10% · vs last sale $1.43M (Oct 6 2023)
Last sale anchor
$1.43M
Oct 6 2023
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
$481 / 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
$7,825
Tax year 2023
Assessed value
$110,517
Assessed 2024
Previous assessed
$89,080
+24.1% YoY
Effective rate
7.08%
On assessed value
Land market value
$588,200
Improvement market value
$81,600
Total market value
$669,800
Applied tax rate
81,300.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1972
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
2,433 SF
Lot
0.21 ac (9,050 SF)
Zoning code
C-2
APN
118-24-089
UPID
US07-3216123
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZZoning C-2 · permitted uses
C-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose C-2 zone is to provide commercial uses of medium intensity designed to be compatible with each other and to provide for a wide range of types of commercial activity within the district
Zone name
Intermediate Commercial
General category
COMMERCIAL
Zone area
13,095.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$725,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1972
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
M O N Holdings LLC
Entity
Mailing address
3029 N 17TH AVE, PHOENIX, AZ 85015-6113
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2025
—
Mon Holdings LLC
—
Deed
related
$350,000 · Bell Bank
Oct 6, 2023
$1,433,730
M O N Holdings LLC
3829 Flex LLC
Special Warranty Deed
$1,433,800 · Umb Bank NA
Apr 6, 2021
$730,000
3829 Flex LLC
Third Street Investments LLC
Special Warranty Deed
$620,500 · Meadows Bank
Dec 2, 1997
$450,000
Meadowlark Corp
3829 Corp INC
Trustees Deed
$354,569 · Bank Of Arizona
Dec 2, 1997
—
3829 N 3rd St Building Corp INC
Personnel Resource Corp
Trustees Deed
related
—
—
—
Meadowlark Corp
—
Deed Of Trust
related
—
—
—
Meadowlark Corp
—
Deed Of Trust
related
$816,000 · First National Bank
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
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
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
