Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3301 W HARMONT Drive Phoenix, AZ 85051

    Property Lookup

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

    3301 W HARMONT Drive Phoenix, AZ 85051

    View on Map
    • Residential income homes
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 3301 W HARMONT Drive

    Year built
    1974
    Property type
    Residential income homes
    Property subtype
    Residential land & home lots

    Description

    This exceptional 4-unit multifamily property located at 3301 W HARMONT Drive, Phoenix, AZ 85051, presents a compelling investment opportunity. The 3,656 square foot building currently boasts three fully occupied units generating a gross monthly rental income of $4,000. This strong cash flow provides immediate returns for investors. A significant value-add potential exists with the fourth unit, currently vacant. This unit offers the possibility of house hacking, allowing an owner-occupant to live in one unit while renting out the others, or maximizing rental income by securing a tenant. Once the fourth unit is rented, the property has the potential to generate a gross monthly income of $5,700. The property's location in Phoenix, Arizona, offers access to a thriving rental market. This multifamily investment is ideal for those seeking a strong cash-flowing asset with significant upside potential for increased profitability. The property is being offered at $879,000. Detailed financial information is available upon request. Serious inquiries only.

    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
    State
    Arizona

    Comparable in this City

    • $180,000
      754 SF

      Condo with Balcony and Amenities

      One-bedroom condo with balcony, pool, spa, and covered parking.
      3119 W Cochise Dr, Phoenix, AZ 85051
      View Details
    • $600,000

      Phoenix Corner Lot Opportunity

      C-1 zoned corner lot in a high-traffic Phoenix location.
      3214 W Glendale Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      4,685 SF

      Freestanding Restaurant PAD Building

      Freestanding restaurant building with high traffic and close to I-17.
      3567 W Northern Ave, Phoenix, AZ 85051
      View Details
    • $595,000

      Phoenix Warehouse with Freeway Visibility

      Warehouse with roll-up doors and I-17 freeway visibility.
      8625 N 27Th Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing

      Freestanding Restaurant PAD Building

      Freestanding restaurant PAD building available for sale.
      3567 W Northern Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing

      Phoenix Retail Space for Sale

      Retail space for sale near major redevelopment and schools.
      35th Ave & Dunlap Ave, Phoenix, AZ 85051
      View Details

    Similar Nearby for Sale

    • $180,000
      754 SF

      Condo with Balcony and Amenities

      One-bedroom condo with balcony, pool, spa, and covered parking.
      3119 W Cochise Dr, Phoenix, AZ 85051
      View Details
    • $600,000

      Phoenix Corner Lot Opportunity

      C-1 zoned corner lot in a high-traffic Phoenix location.
      3214 W Glendale Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      4,685 SF

      Freestanding Restaurant PAD Building

      Freestanding restaurant building with high traffic and close to I-17.
      3567 W Northern Ave, Phoenix, AZ 85051
      View Details
    • $595,000

      Phoenix Warehouse with Freeway Visibility

      Warehouse with roll-up doors and I-17 freeway visibility.
      8625 N 27Th Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing

      Freestanding Restaurant PAD Building

      Freestanding restaurant PAD building available for sale.
      3567 W Northern Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing

      Phoenix Retail Space for Sale

      Retail space for sale near major redevelopment and schools.
      35th Ave & Dunlap Ave, Phoenix, AZ 85051
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Lease

      Multiple drive-thru pads available for ground lease or build-to-suit.
      3501 W Northern Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      1,800 SF

      Office Space on Northern Avenue

      Office space for rent with dedicated parking lot.
      3439 W Northern Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing

      Retail Space Near Metrocenter Mall

      Retail space available adjacent to Metrocenter Mall redevelopment.
      9001 N 29Th Ave, Phoenix, AZ 85051
      View Details
    • $14 SF/Yr

      Phoenix Office/Medical Spaces For Lease

      Office and medical spaces for lease with covered parking.
      8618 N 35Th Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      260 SF

      Interior Office Space with Amenities

      Serviced office space featuring shared amenities in Phoenix, Arizona.
      10000 N 31St Ave, Phoenix, AZ 85051
      View Details
    • Contact for pricing
      3,009 SF

      Move-in Ready Office Suites

      Office suites with ample parking and convenient highway access.
      10240 N 31St Ave, Phoenix, AZ 85051
      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.
    3301 W HARMONT Drive
    Phoenix, AZ 85051
    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.
    Sign Up Successful!
    You now have access to more from Realmo!