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

    Phoenix, AZ 85034

    • Flex space
    • 15,000 SF
    • 0.61 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2020
    $3,100,000
    Value Estimations
    $3,565,000
    Show details
    Cap Rate Potential
    2.4%
    Flex space
    Location Intelligence
    Property ID
    US07-1610663
    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

    • Flex space

    Property Details

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.61 lot acres
    Property size
    15,000 SF
    Zone code
    A-2
    Property type
    Flex space
    APN
    116-58-005
    APU
    11658005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,855,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,699,000
      Market price range: $1.86M - $4.00M
      AI Estimate
      $2,802,000
      Market price range: $1.87M - $4.19M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,720,000
      Current use
      AUTO REPAIR, GARAGE
      $6,340,000
      Change: +133% Conversion: Easy
      RETAIL STORES
      $4,470,000
      Change: +64% Conversion: Moderate
      MEDICAL BUILDING
      $3,980,000
      Change: +47% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,820,000
      Change: +40% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.065
    Latitude
    33.4432
    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
    $4,637
    $0.00
    $0.00
    $283,355
    -
    $336,700
    $1,380,600
    $1,717,300

    Comparable in this City

    • Value Estimation by Request
      6,000 SF

      3922 Air Ln

      LIGHT INDUSTRIAL • 6,000 SF
      3922 Air Ln, Phoenix, AZ 85034-2916
      View Details
    • Value Estimation by Request
      4,500 SF

      3928 Air Ln

      LIGHT INDUSTRIAL • 4,500 SF
      3928 Air Ln, Phoenix, AZ 85034-2916
      View Details
    • Value Estimation by Request
      38,897 SF

      2615 21st St, Unit 107

      LIGHT INDUSTRIAL • 38,897 SF
      2615 21st St, Phoenix, AZ 85034-6720
      View Details
    • Value Estimation by Request
      9,000 SF

      1746 Madison St

      LIGHT INDUSTRIAL • 9,000 SF
      1746 Madison St, Phoenix, AZ 85034-2438
      View Details
    • Value Estimation by Request
      24,972 SF

      3001 35th St

      LIGHT INDUSTRIAL • 24,972 SF
      3001 35th St, Phoenix, AZ 85034-7232
      View Details
    • Value Estimation by Request
      45,375 SF

      2641 37th St

      LIGHT INDUSTRIAL • 45,375 SF
      2641 37th St, Phoenix, AZ 85034
      View Details

    Similar Nearby for Sale

    • $1,260,000
      4,867 SF

      Phoenix Industrial Flex Space

      High-return flex warehouse, fully leased.
      1617 Jefferson St, 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
    • Contact for pricing
      138,781 SF

      Phoenix Airport Area Flex Space

      Four-building flex space near Sky Harbor International Airport.
      5324-5330 E 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
    • $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
      4,232 SF

      Freestanding Industrial Building Opportunity

      Freestanding industrial building in the North Airport submarket available for sale.
      4312 E University Dr, Phoenix, AZ 85034
      View Details

    Similar Nearby for Lease

    • $1.40 SF/Yr
      4,336 SF

      Freestanding Air Conditioned Flex Building

      4,336 SF freestanding flex building with full air conditioning.
      4105 E Magnolia St, Phoenix, AZ 85034
      View Details
    • $18 SF/Yr
      4,560 SF

      Phoenix Industrial Space For Lease

      4,560 SF Flex Space, Newly Renovated
      2326 Washington St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      59,888 SF

      Phoenix Flex Building with Lab

      59,888 SF flex building with existing lab space.
      4601 E Hilton Ave, Phoenix, AZ 85034
      View Details
    • $1.45 SF/Yr
      52,764 SF

      Phoenix Flex R&D Space

      Flex R&D space available for lease in Phoenix, Arizona.
      3710 E University Dr | Phoenix, Phoenix, AZ 85034
      View Details
    • $27 SF/Yr
      33,150 SF

      Phoenix Warehouse with Air Conditioning

      33,150 SF Phoenix warehouse space for lease.
      1818 E Sky Harbor Cir S, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      7,013 SF

      Phoenix Flex Space For Rent

      7,013 SF flex space available for lease in Phoenix.
      920 E Madison 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.
    Phoenix, AZ 85034
    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.