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Property profile & analytics
OFF-MARKET
Estimated value
$2,865,000
Warehouses
518 3rd St Phoenix, AZ 85004-2506
Individually Owned
Free & Clear
Property ID
US07-1203305
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1926
Construction
CONCRETE
Total area
21,801 SF
Lot
0.16 ac (7,026 SF)
Zoning code
DTC-WARE
APN
112-26-038
UPID
US07-1203305
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
-
Phoenix Job Corps Center Vocational School Training Center
-
Pathway To Success High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$2.87M
Owner & transaction history
U S A
U S A
Zoning & alternative use
DTC-WARE · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Warehouse character area is a unique urban neighborhood that offers a blend of old railroad charm and modern urban living. The unique old warehouse buildings provide design inspiration for the design of new buildings that complement the existing character
Zone name
Downtown Code Warehouse
General category
INDUSTRIAL
Zone area
169.54 ac
Source
Realmo
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
Blend value · Realmo final
$2.87M
Range $2.58M – $3.15M · ±10%
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
$131 / 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
Assessed value
$99,975
Assessed 2024
Previous assessed
$83,850
+19.2% YoY
Land market value
$170,400
Improvement market value
$496,100
Total market value
$666,500
Applied tax rate
11,300.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1926
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
21,801 SF
Lot
0.16 ac (7,026 SF)
Zoning code
DTC-WARE
APN
112-26-038
UPID
US07-1203305
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-WARE · Phoenix, AZZoning DTC-WARE · permitted uses
DTC-WARE · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Warehouse character area is a unique urban neighborhood that offers a blend of old railroad charm and modern urban living. The unique old warehouse buildings provide design inspiration for the design of new buildings that complement the existing character
Zone name
Downtown Code Warehouse
General category
INDUSTRIAL
Zone area
169.54 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1926
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
U S A
Individual
Free & Clear · 0 yrs held
Mailing address
135 N 2ND AVE, PHOENIX, AZ 85003-2013
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
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