Sign Up Successful!
You now have access to more from Realmo!
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

    515 Elwood St Phoenix, AZ 85041-1227

    • Warehouses
    • 2,160 SF
    • 1.31 lot acres
    OFF-MARKET
    Last Sale
    Dec 23, 2020
    $14,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0082120
    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

    • Warehouses

    Property Details for 515 Elwood St

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    1.31 lot acres
    Property size
    2,160 SF
    Zone code
    A-2
    Property type
    Warehouses
    APN
    113-02-128A
    APU
    11302128A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.08
    Latitude
    33.4134
    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
    $7,050
    $0.00
    $0.00
    $89,694
    -
    $368,800
    $174,800
    $543,600

    Comparable in this City

    • Value Estimation by Request
      3,000 SF

      1718 Broadway Rd

      STORAGE YARD, OPEN STORAGE • 3,000 SF
      1718 Broadway Rd, Phoenix, AZ 85041-2230
      View Details
    • Value Estimation by Request
      4,920 SF

      2340 Broadway Rd

      WAREHOUSE, STORAGE • 4,920 SF
      2340 Broadway Rd, Phoenix, AZ 85041-2112
      View Details
    • Value Estimation by Request
      1,200 SF

      1820 Broadway Rd

      WAREHOUSE, STORAGE • 1,200 SF
      1820 Broadway Rd, Phoenix, AZ 85041-2232
      View Details
    • Value Estimation by Request
      2,772 SF

      2551 Broadway Rd

      STORAGE YARD, OPEN STORAGE • 2,772 SF
      2551 Broadway Rd, Phoenix, AZ 85041-2007
      View Details
    • Value Estimation by Request
      3,108 SF

      2405 Broadway Rd

      STORAGE YARD, OPEN STORAGE • 3,108 SF
      2405 Broadway Rd, Phoenix, AZ 85041-2003
      View Details
    • Value Estimation by Request
      875 SF

      3736 7th Ave

      WAREHOUSE, STORAGE • 875 SF
      3736 7th Ave, Phoenix, AZ 85041-1243
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,298 SF

      Phoenix Industrial Site For Sale

      Two buildings totaling 11,298 SF on 2.67 acres.
      9801 N 19Th Ave, Phoenix, AZ 85041
      View Details
    • Contact for pricing

      Prime Laveen Land Development Opportunity

      82,500 SF Commercial Land, Two Pads Available
      27th Ave &, Phoenix, AZ 85041
      View Details
    • $125,000
      0.16 Acres

      Phoenix Land Parcel For Sale

      Land parcel available in Phoenix, Arizona.
      5649 S 42Nd Ave, Phoenix, AZ 85041
      View Details
    • $400,000
      1.45 Acres

      Phoenix Land with City Views

      1.45 acre lot with potential for development.
      2121 W Dobbins Rd, Phoenix, AZ 85041
      View Details
    • $125,000
      0.16 Acres

      Phoenix Land Ready For Building

      Residential land for sale, ideal for building a home.
      0000 W Hidalgo Ave, Phoenix, AZ 85041
      View Details
    • $2,200,000

      Phoenix Land with Mountain Views

      Well-located land near South Mountain Preserve, close to Phoenix.
      205 W Mcneil St, Phoenix, AZ 85041
      View Details

    Similar Nearby for Lease

    • $0.87 SF/Yr
      42,996 SF

      Phoenix Warehouse Space For Lease

      42,996 SF warehouse space available for lease in Phoenix.
      24435 N 20Th Dr, Phoenix, AZ 85041
      View Details
    • $1.15 SF/Yr
      1,500 SF

      Renovated Warehouse Space Available

      Modern warehouse space with excellent freeway access for lease.
      8155 N 24Th Ave, Phoenix, AZ 85041
      View Details
    • $1.40 SF/Yr
      1,420 SF

      Industrial Flex Space Available

      1420 sq ft flex space with office component for rent.
      3620 E Broadway Rd, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      2,700 SF

      Phoenix Retail Investment Opportunity

      Prime Phoenix location, 2700 sq ft retail space.
      709 Southern Ave, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      20,000 SF

      Retail Shops and PADs Available

      Retail spaces for lease in a high-traffic Phoenix location.
      1843 W Baseline Rd, Phoenix, AZ 85041
      View Details
    • Contact for pricing
      3,500 SF

      Phoenix Retail Pad with Drive-Thru

      Retail pad with drive-thru available at busy Phoenix intersection.
      1 W Baseline Rd, Phoenix, AZ 85041
      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.
    515 Elwood St
    Phoenix, AZ 85041-1227
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.