2328 Palm LnPhoenix, AZ 85009

Property Details for 2328 Palm Ln

Year built

1962

Construction

CONCRETE

Lot size

0.23 AC

Property size (Sq ft)

3,920 SF

Zone code

I-2

Property type

Warehouses

APN

110-50-016A

APU

11050016A

Description

This exceptional 8,820-square-foot industrial warehouse, located at 2328-2332 W Palm Ln, Phoenix, AZ 85009, presents a compelling investment opportunity. Built in 1970, this Class C property features a single building with multiple tenancies. The warehouse boasts a generous 12-foot ceiling height, providing ample vertical space for storage and operations. Access is facilitated by four 10' x 10' grade-level drive-in doors, ensuring efficient loading and unloading. The property is equipped with 3-phase power, a 400-amp service, and natural gas connectivity. The zoning is designated A-2. Beyond the main warehouse space, the property includes a fenced and gated front yard, and a substantial 4,000-square-foot fenced backyard, offering additional secure storage or operational areas. The property also includes minimal office space. This well-located Phoenix warehouse offers a blend of functionality and convenience, making it an attractive option for a variety of industrial businesses. The asking rate is $0.95 per square foot on a modified gross lease.

• CAP approach

  CAP return

  Valuation

  6%

  $1,456,130

  6.5%

  $1,344,120

  7%

  $1,248,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $966,829

  Geo Method

  $966,829

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $672,074

  Mixed-Use / Specialty

  $656,135

  Hospitality / Lodging

  $463,753

  Office

  $638,131

  Institutional / Educational

  $677,276

  Residential Income

  $792,413

  Multifamily

  $1,025,460

  Automotive / Energy

  $580,522

  Parking / Income-Based Land

  $213,711

  Restaurant / Food Service

  $312,358

  Healthcare / Senior Housing

  $686,742

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4699

Longitude

-112.11

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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