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

    4140 Central Ave Phoenix, AZ 85012-1830

    • Parking lots & garages
    • 168,750 SF
    • 8.28 lot acres
    OFF-MARKET
    Last Sale
    Jul 01, 2022
    $63,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3447710
    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

    • A Tropical Concept Exotic Bird Rescue / Animal Shelter / Pet Adoption Service
    • careerits.com / Tech Support Center / IT Consulting Firm
    • The Station on Central / Apartment Building
    • Doggtel / Kennel & Boarding Facility

    Property Details for 4140 Central Ave

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    8.28 lot acres
    Property size
    168,750 SF
    Zone code
    R-4A
    Property type
    Parking lots & garages
    APN
    155-31-088A
    APU
    15531088A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $57,240,000
      Current use
      RESTAURANT
      $90,115,000
      Change: +57% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $71,305,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $50,285,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.076
    Latitude
    33.4961
    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
    $520,366
    $0.00
    $0.00
    $14,190,120
    -
    $28,380,200
    $113,521,000
    $141,901,200

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      17 Monterey Way

      PARKING LOT • 0.15 Acres
      17 Monterey Way, Phoenix, AZ 85012
      View Details
    • Value Estimation
      $29,605,000
      170,054 SF

      3032 2nd St

      PARKING GARAGE, PARKING STRUCTURE • 170,054 SF
      3032 2nd St, Phoenix, AZ 85012
      View Details
    • Value Estimation by Request
      0.21 Acres

      3125 Central Ave

      PARKING LOT • 0.21 Acres
      3125 Central Ave, Phoenix, AZ 85012-2621
      View Details
    • Value Estimation by Request
      176,305 SF

      3101 Central Ave

      PARKING GARAGE, PARKING STRUCTURE • 176,305 SF
      3101 Central Ave, Phoenix, AZ 85012-2645
      View Details
    • Value Estimation by Request
      0.15 Acres

      21 Monterey Way

      PARKING LOT • 0.15 Acres
      21 Monterey Way, Phoenix, AZ 85012
      View Details
    • Value Estimation by Request
      84,435 SF

      4001 Central Ave

      PARKING GARAGE, PARKING STRUCTURE • 84,435 SF
      4001 Central Ave, Phoenix, AZ 85012-1948
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      722,000 SF

      Midtown Phoenix Executive Office Space

      Class A Office, Retail, & Hotel
      3800 Central Ave, Phoenix, AZ 85012
      View Details
    • Contact for pricing
      15,080 SF

      Phoenix Retail Property For Sale

      Retail property available for purchase in Phoenix, Arizona.
      6021 S Central Ave, Phoenix, AZ 85012
      View Details
    • $1,190,000
      1,235 SF

      Redevelopment Opportunity in Phoenix Midtown

      Two properties for sale in revitalizing Phoenix Midtown district.
      501 E Osborn Rd, Phoenix, AZ 85012
      View Details
    • Contact for pricing
      4,250 SF

      Retail Space Near Park Central

      Retail space near updated mall, public transit, and residences.
      128 W Osborn Rd, Phoenix, AZ 85012
      View Details
    • Contact for pricing

      Retail Center with Upcoming Improvements

      Retail property with high traffic and planned upgrades.
      W Camelback Rd, Phoenix, AZ 85012
      View Details
    • $995,000

      Mid-Century Office Building For Sale

      Freestanding 2,057 SF office building with high visibility.
      506 E Camelback Rd, Phoenix, AZ 85012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      275,000 SF

      Park Central Executive Offices

      Phoenix Executive Suites Available
      3110 Central Ave, Phoenix, AZ 85012
      View Details
    • Contact for pricing
      1,520 SF

      Restaurant Space Near Saint Joseph's

      Former restaurant space with high traffic and nearby amenities.
      49-53 W Thomas Rd, Phoenix, AZ 85012
      View Details
    • Contact for pricing

      Mixed-Use Space Near Light Rail

      Office, retail, and restaurant spaces near future developments and light rail.
      3110 N Central Ave, Phoenix, AZ 85012
      View Details
    • Contact for pricing

      Retail Space on Camelback Road

      Retail space for lease with high traffic on Camelback Road.
      525-533 E Camelback Rd, Phoenix, AZ 85012
      View Details
    • Contact for pricing

      Retail Space Available Soon

      Retail space available February 2026 in hard corner building.
      635 E Indian School Rd, Phoenix, AZ 85012
      View Details
    • $32 SF/Yr

      Renovated Midtown Space for Lease

      Newly renovated mixed-use space in Midtown Phoenix with dining options.
      3110 N Central Ave, Phoenix, AZ 85012
      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.
    4140 Central Ave
    Phoenix, AZ 85012-1830
    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!