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Property profile & analytics
OFF-MARKET
Estimated value
$9,400,000
Warehouses
6003 40th St Phoenix, AZ 85042-5154
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US07-1150820
Property summary
AI-generated overview
This exceptional Phoenix, Arizona property, located at 6003 S. 40th St., #3, offers 3,600 square feet of immediately available space within a larger 21,780 square foot building. The space is ideally suited for businesses requiring a blend of executive office and warehouse/distribution capabilities. Situated in the Sky Harbor Airport submarket of Maricopa County, this location provides excellent access to major transportation routes, enhancing logistical efficiency. The unit boasts an impressive 18-foot ceiling height, providing ample vertical space for storage or specialized equipment. Power is readily available with a 200-amp, 3-phase electrical service. The property is zoned GCP, offering flexibility for a variety of industrial and office uses. The building is multi-tenant, providing a collaborative and dynamic work environment. This versatile space presents a unique opportunity for businesses seeking a strategic location and functional layout in a thriving Phoenix commercial district. The zip code is 85042. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Construction
CONCRETE
Total area
21,700 SF
Lot
4.46 ac (194,103 SF)
Zoning code
IND.PK.
APN
123-17-568A
UPID
US07-1150820
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
-
Maverick Gates General Contractor Construction Company
-
Haynes Mechanical Systems HVAC Service General Contractor
-
Express Sign (Bike/Boat/Book/etc) Store Printing Service
-
Allan J Coleman Plumbing Service Building Supply
-
Hallgren Co Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.50M
Blend (final)
Blend
$9.40M
Owner & transaction history
40th St & Southern LLC · 22 yrs held
40th St & Southern LLC
since 2004
5 recorded transactions
Zoning & alternative use
IND.PK. · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Public/Zoning (MapServer)
Top alternative use upside
Commercial (general)
$15.1M
+168.3%
Restaurant
$11.6M
+105.8%
Auto repair, garage
$9.2M
+62.8%
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
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,110,000
Change: +168% · Conversion: Difficult
RESTAURANT
$11,590,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,170,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$6,510,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$6,465,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$5,760,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$9.40M
Range $8.46M – $10.34M · ±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
$433 / 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
$72,530
Tax year 2023
Assessed value
$1,383,014
Assessed 2024
Previous assessed
$1,181,483
+17.1% YoY
Effective rate
5.24%
On assessed value
Land market value
$2,109,700
Improvement market value
$6,272,200
Total market value
$8,381,900
Applied tax rate
31,300.0000
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
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
21,700 SF
Lot
4.46 ac (194,103 SF)
Zoning code
IND.PK.
APN
123-17-568A
UPID
US07-1150820
Jurisdiction
MARICOPA
Zoning & alternative use
IND.PK. · Phoenix, AZZoning IND.PK. · permitted uses
IND.PK. · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Public/Zoning (MapServer)
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$15.1M
RESTAURANT
Est. value
$11.6M
AUTO REPAIR, GARAGE
Est. value
$9.2M
OFFICE BUILDING
Est. value
$6.5M
RETAIL STORES
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$5.8M
COMMERCIAL (GENERAL)
RESTAURANT
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
2003
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
4.46 ac
Current owner
From public records · entity-resolved
40th St & Southern LLC
Entity
Mailing address
5202 S 40TH ST, PHOENIX, AZ 85040-3918
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2004
—
40th St & Southern LLC
Hoyt R S JR Trust
Grant Deed
$2,500,000 · Mellon First Business Bank
Jun 30, 2004
—
40th & Southern LLC
Hoyt,tr
Grant Deed
related
—
Nov 22, 1991
$289,456
Hoyt R S
First American F
Trustees Deed
—
Sep 4, 1991
$450,000
Bancwest Mortgag
Security Pacific
Trustees Deed
related
—
Apr 26, 1990
$485,258
Lincor Propertie
40th St & Southe
Grant Deed
—
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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