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Property profile & analytics
FOR LEASE
Distribution centers
441 S 53Rd Ave Phoenix, AZ 85043
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-0821004
For Lease
1 / 10
$32,250,000
441 S 53Rd Ave, Phoenix, AZ 85043
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1987
Construction
CONCRETE
Total area
112,930 SF
Lot
2.38 ac (103,727 SF)
Zoning code
A-2
APN
104-20-042
UPID
US07-0821004
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
-
Packaging Corporation of America Industrial Manufacturer Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$43.58M
Blend (final)
Blend
$32.25M
Owner & transaction history
Rreef Cpif 441 South 53rd Avenue Az · 4 yrs held
Rreef Cpif 441 South 53rd Avenue Az
since 2022
Last sale
$31.0M
7 recorded transactions
Zoning & alternative use
A-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$47.7M
+28.9%
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
$31,955,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$37,015,000
Current use
AUTO REPAIR, GARAGE
$47,720,000
Change: +29% · Conversion: Easy
OFFICE BUILDING
$33,890,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$33,650,000
Change: -9% · Conversion: Moderate
MEDICAL BUILDING
$29,975,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$32.25M
Range $29.03M – $35.48M · ±10% · vs last sale $31.00M (Jul 7 2022)
Last sale anchor
$31.00M
Jul 7 2022
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
$286 / 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
$95,568
Tax year 2023
Assessed value
$1,926,474
Assessed 2024
Previous assessed
$1,674,126
+15.1% YoY
Effective rate
4.96%
On assessed value
Land market value
$536,800
Improvement market value
$11,138,800
Total market value
$11,675,600
Applied tax rate
21,300.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
112,930 SF
Lot
2.38 ac (103,727 SF)
Zoning code
A-2
APN
104-20-042
UPID
US07-0821004
Jurisdiction
MARICOPA
Zoning & alternative use
A-2 · Phoenix, AZ
Zoning A-2 · permitted uses
A-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$37.0M
AUTO REPAIR, GARAGE
Est. value
$47.7M
OFFICE BUILDING
Est. value
$33.9M
RETAIL STORES
Est. value
$33.7M
MEDICAL BUILDING
Est. value
$30.0M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.38 ac
Current owner
From public records · entity-resolved
Rreef Cpif 441 South 53rd Avenue Az
Individual
Mailing address
222 S RIVERSIDE PLZ FL, CHICAGO, IL 60606-5808
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2022
$31,000,000
Rreef Cpif 441 South 53rd Avenue Az
Az Freeport Center De LLC
Special Warranty Deed
—
Sep 22, 2021
$23,980,000
Az Freeport Center LLC
Pca Owner LLC
Special Warranty Deed
—
Mar 27, 2020
$17,300,000
Pca Owner LLC
Globe-freeport LLC
Grant Deed
—
Jan 21, 2016
—
Globe-freeport LLC
Globe Corp
Quit Claim Deed
$5,500,000 · Miscellaneous Ins Co
Jun 13, 1996
$6,000,001
Globe Corporation
Mony Company Of America
Grant Deed
$3,700,000 · Principal Mutual Life Ins
Nov 21, 1988
—
Mony Life Ins Co
Unknown
Grant Deed
related
—
Dec 2, 1987
—
Freeport Center
—
Deed Of Trust
related
—
—
—
Globe Corp
—
Deed Of Trust
related
$5,500,000 · Principal Life Insurance Co
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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