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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    828 24th St Tempe, AZ 85282-1928

    • Warehouses
    • 12,841 SF
    • 0.85 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2020
    $1,185,000
    Value Estimations
    $1,970,000
    Show details
    Cap Rate Potential
    8.2%
    Warehouses
    Location Intelligence
    Property ID
    US07-0154975
    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

    • AMERICAN LIBERATOR AEROSPACE / Plastic Injection Molding Service
    • Plastic Injection Molders-Az / Plastic Fabrication Company

    Property Details for 828 24th St

    Year built
    1978
    Construction
    CONCRETE
    Lot size
    0.85 lot acres
    Property size
    12,841 SF
    Zone code
    GID
    Property type
    Warehouses
    APN
    123-55-015
    APU
    12355015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,735,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,365,000
      6.5%
      $2,185,000
      7%
      $2,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,240,000
      Market price range: $1.64M - $3.32M
      AI Estimate
      $2,240,000
      Market price range: $1.64M - $3.32M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,320,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.951
    Latitude
    33.4034
    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
    $16,121
    $0.00
    $0.00
    $265,683
    -
    $311,000
    $1,299,200
    $1,610,200

    Comparable in this City

    • Value Estimation by Request
      2,190 SF

      3250 Fair Ln

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      1,979 SF

      325 Southern Ave

      WAREHOUSE, STORAGE • 1,979 SF
      325 Southern Ave, Tempe, AZ 85282-4501
      View Details
    • Value Estimation by Request
      92,546 SF

      2404 Wilson St

      WAREHOUSE, STORAGE • 92,546 SF
      2404 Wilson St, Tempe, AZ 85282-2028
      View Details
    • Value Estimation by Request
      68,031 SF

      3214 Fair Ln

      Distribution properties • 68,031 SF
      3214 Fair Ln, Tempe, AZ 85282
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    • Value Estimation by Request
      31,410 SF

      4205 Ml Ave

      MINI-WAREHOUSE, STORAGE • 31,410 SF
      4205 Ml Ave, Tempe, AZ 85282-4998
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    • Value Estimation by Request
      6,000 SF

      1135 Broadway Rd

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      1135 Broadway Rd, Tempe, AZ 85282-1225
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Tempe Freestanding Building For Sale

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      Prime Commercial Land For Sale

      1.0 AC available near I-10, ideal for various uses.
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      8,752 SF

      Land Available at Arizona Mills

      Land parcel available for ground lease or build to suit.
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    • $249,000
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      Tempe Office Suite - Great Location

      737 sq ft Office, Tempe, AZ
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      Tempe Office Space Available

      Office property with 3,536 square feet of space for sale.
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    Similar Nearby for Lease

    • $1.45 SF/Yr
      8,969 SF

      Tempe Warehouse Space Available

      Modern Tempe warehouse, flexible space.
      5016 Ash Ave, Tempe, AZ 85282
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    • $1.25 SF/Yr
      1,092 SF

      Tempe Warehouse with Truck Access

      1,092 SF warehouse with great truck access near airport.
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    • $1.00 SF/Yr
      6,210 SF

      Tempe Warehouse Near Freeways

      Warehouse space with easy access to freeways and airport.
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    • $1.09 SF/Yr
      40,000 SF

      Air-Conditioned Warehouse with Secured Yard

      40,000 SF warehouse with air conditioning and secured yard.
      3207 S Wilson St, Tempe, AZ 85282
      View Details
    • $1.30 SF/Yr
      2,500 SF

      Industrial Space Near Sky Harbor

      Industrial space for lease, close to freeways and airport.
      835 W 22Nd St, Tempe, AZ 85282
      View Details
    • $1.30 SF/Yr
      7,730 SF

      Tempe Flex Space Available

      7,730 SF flex space available for lease in Tempe.
      5032 S Ash Ave, Tempe, AZ 85282
      View Details
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    828 24th St
    Tempe, AZ 85282-1928
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    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
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