Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    538 Highland Ave Phoenix, AZ 85013-2735
    Back to Search
    Property profile & analytics

    538 Highland Ave, Phoenix, AZ 85013-2735

    View on Map
    • Day care centers
    • 2,024 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Dec 23, 2021
    $375,000
    Property ID
    US07-0424577
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hilltop Family Real Estate Firm / Real Estate Agency
    • PHOENIX PREP / High School

    Property Details for 538 Highland Ave

    Year built
    1933
    Construction
    CONCRETE
    Lot size
    0.22 lot acres
    Zone code
    C-3
    Property type
    Day care centers
    APN
    155-35-038
    APU
    15535038

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 23, 2021 $375,000 Mn2az LLC Anne L Denniston Special Warranty Deed —
    May 22, 2006 — Petrey Carmel & Eithel C Trust Petrey,carmel M JR & Eithel C Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.082
    Latitude
    33.506
    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
    $4,582
    $0.00
    $0.00
    $46,363
    -
    $190,200
    $273,432
    $463,632

    Comparable in this City

    • Value Estimation
      $1,435,000
      4,412 SF

      802 Osborn Rd

      DAY CARE, PRE-SCHOOL
      802 Osborn Rd, Phoenix, AZ 85013-3614
      View Details
    • Value Estimation by Request
      2,810 SF

      626 Campbell Ave

      DAY CARE, PRE-SCHOOL
      626 Campbell Ave, Phoenix, AZ 85013-2902
      View Details
    • Value Estimation
      $1,895,000
      7,882 SF

      4706 7th Ave

      VETERINARY, ANIMAL HOSPITAL
      4706 7th Ave, Phoenix, AZ 85013-2402
      View Details
    • Value Estimation by Request
      1,119 SF

      536 Missouri Ave

      Automotive properties
      536 Missouri Ave, Phoenix, AZ 85013
      View Details
    • Value Estimation by Request
      4,508 SF

      4730 7th Ave

      KENNEL
      4730 7th Ave, Phoenix, AZ 85013-2453
      View Details
    • Value Estimation
      $1,320,000
      3,206 SF

      3418 7th Ave

      VETERINARY, ANIMAL HOSPITAL
      3418 7th Ave, Phoenix, AZ 85013-3636
      View Details

    Similar Nearby for Sale

    • $1,550,000

      Turnkey Midtown Phoenix Multifamily Investment

      Remodeled, furnished four-unit property with flexible rental strategies and strong tenant demand.
      4132 North 3Rd Ave, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      8,100 SF

      Melrose District Retail Opportunity

      Retail space with mezzanine and fenced yard in Melrose District.
      4238 N 7Th Ave, Phoenix, AZ 85013
      View Details
    • New
      $1,100,000
      1,150 SF

      Uptown Phoenix Multifamily Compound

      Rare fourplex compound on a large lot in Uptown Phoenix.
      746 W Coolidge St, Phoenix, AZ 85013
      View Details
    • $1,100,000

      Fourplex Compound with Workshop

      Three-building fourplex package includes an attached workshop, steel carport, and multiple storage units.
      746 West Coolidge St, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      4,753 SF

      Strategic Lot Near 7th Avenue

      Commercial lot near future multifamily development, C-2 zoning.
      654 W Camelback Rd, Phoenix, AZ 85013
      View Details

    Similar Nearby for Lease

    • Sponsored
      Contact for pricing

      AZ, Phoenix - Clarendon

      Workspaces, services and support to help you work better in CA, Campbell - Orchards City Dr
      300 Clarendon Ave, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      3,172 SF

      Retail Space in Phoenix Center

      Retail space available in high-density Phoenix shopping center.
      730 W Camelback Rd, Phoenix, AZ 85013
      View Details
    • Contact for pricing

      Multi-Tenant Office Spaces Available

      Office spaces for lease at 7th Ave & Indian School.
      550 W Indian School Rd, Phoenix, AZ 85013
      View Details
    • Contact for pricing
      2,490 SF

      Modern Office Space Available

      Office space with easy access and modernized features for rent.
      300 W Clarendon Ave, Phoenix, AZ 85013
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office property available for lease at 333 W Thomas Road.
      333 W Thomas Rd, Phoenix, AZ 85013
      View Details
    • $24 SF/Yr

      Creative Office Space in Phoenix

      Move-in ready creative office space in Midtown Phoenix for rent.
      407 West Osborn Rd, Phoenix, AZ 85013
      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.
    538 Highland Ave
    Phoenix, AZ 85013-2735
    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

    Thank You for Inquiry
    538 Highland Ave, Phoenix, AZ, 85013
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!