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

    5328 Washington St, Unit 3 Phoenix, AZ 85034-2143

    • Office buildings
    • 15,445 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2021
    $15,185,000
    Value Estimations
    $21,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2530133
    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

    • Office buildings

    Property Details for 5328 Washington St

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    0.36 lot acres
    Property size
    15,445 SF
    Zone code
    A-1
    Property type
    Office buildings
    APN
    124-14-023
    APU
    12414023

    Description

    This exceptional industrial property, known as Washington Business Park, offers ±15,303 square feet of versatile warehouse and distribution space, currently undergoing final preparations for occupancy. Two spaces are immediately available, with a minimum divisible space of 328 square feet, catering to a range of business needs. The building boasts a 14-20 foot clear height, ensuring efficient storage and operations. A fully functioning HVAC system maintains a comfortable working environment year-round. Its central location provides easy access to major freeways, offering excellent visibility and convenient transportation links. Strategic signage on Washington Street enhances brand awareness and accessibility. The expansive 10.99-acre lot provides ample parking for employees and clients. The property is zoned A-1, allowing for a variety of industrial uses. This prime location combines functionality with strategic positioning, making it an ideal choice for businesses seeking efficient and accessible warehouse space. Contact us today to learn more about the available spaces and lease terms. Don't miss this opportunity to secure your business's future in this thriving industrial park. The property is currently undergoing final preparations and will be ready for occupancy soon.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $21,015,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $15,970,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.966
    Latitude
    33.447
    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
    $29,126
    $0.00
    $0.00
    $378,272
    -
    $1,255,300
    $1,037,257
    $2,292,557

    Comparable in this City

    • Value Estimation by Request
      5,060 SF

      216 14th St

      OFFICE BUILDING • 5,060 SF
      216 14th St, Phoenix, AZ 85034
      View Details
    • Value Estimation by Request
      3,961 SF

      1845 Washington St

      OFFICE BUILDING • 3,961 SF
      1845 Washington St, Phoenix, AZ 85034
      View Details
    • Value Estimation by Request
      120,553 SF

      225 45th St

      OFFICE BUILDING • 120,553 SF
      225 45th St, Phoenix, AZ 85034-1901
      View Details
    • Value Estimation by Request
      2,688 SF

      300 24th St

      OFFICE BUILDING • 2,688 SF
      300 24th St, Phoenix, AZ 85034-2541
      View Details
    • Value Estimation by Request
      214,795 SF

      111 34th St

      OFFICE BUILDING • 214,795 SF
      111 34th St, Phoenix, AZ 85034-2802
      View Details
    • Value Estimation by Request
      1,412 SF

      3218 Jackson St

      OFFICE BUILDING • 1,412 SF
      3218 Jackson St, Phoenix, AZ 85034-2815
      View Details

    Similar Nearby for Sale

    • $3,474,723
      11,784 SF

      Multi-Tenant Office Building For Sale

      Two-story office building in Phoenix, 100% occupied through 2027.
      1100 E Washington St, Phoenix, AZ 85034
      View Details
    • $2,450,000
      52,390 SF

      Phoenix Office Warehouse Opportunity

      Office warehouse available for sale or lease in Phoenix.
      2544 E University Dr, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      4,560 SF

      Phoenix Industrial Building For Sale

      4,560 SF Flex Space, Updated 2023
      2326 Washington St, Phoenix, AZ 85034
      View Details
    • $575,000
      2,556 SF

      Phoenix Retail or Auto Opportunity

      2,556 SF building with 7,626 SF fenced yard.
      211 N 20Th St, Phoenix, AZ 85034
      View Details
    • $6,000,000

      Downtown Phoenix Multifamily Infill Opportunity

      Land approved for 70 units in Downtown Phoenix.
      909 W Washington St, Phoenix, AZ 85034
      View Details
    • $1,150,000
      5,750 SF

      Phoenix Industrial Warehouse - $1.15M

      5,750 SF Warehouse, Ideal Location
      2930 Washington St, Phoenix, AZ 85034
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,270 SF

      Class A Office Building

      Six-story, 188,025 SF Class A office building for rent.
      4600 E Washington St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      20,536 SF

      Divisible Two-Story Office Building

      Two-story office building available for immediate occupancy.
      3201 E Elwood St, Phoenix, AZ 85034
      View Details
    • $21 SF/Yr
      4,016 SF

      Historic Office Space Available

      Renovated historic office space suitable for lawyers, lobbyists, etc.
      1021 E Washington St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      5,200 SF

      Built-Out Office Space Available

      5,200 SF move-in ready office space for rent.
      1013 E Washington St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      40,000 SF

      Office Space in Desert Ridge

      Office space for rent in the heart of Desert Ridge.
      56Th St, Phoenix, AZ 85034
      View Details
    • $5,000 /Mo
      3,276 SF

      Phoenix Office Space For Rent

      Office space with private offices, near downtown entertainment district.
      824 E Washington St, Phoenix, AZ 85034
      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.
    5328 Washington St, Unit 3
    Phoenix, AZ 85034-2143
    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.