3451 S 40th St, Phoenix, AZ 85040

Single-Tenant Industrial · Phoenix · Phoenix metro, AZ

One of 2,871 reachable single-tenant industrial buildings in Phoenix. Larger than 11% of single-tenant industrial buildings in Phoenix (median 13,375 SF), derived from assessor records.

County gross building area
3,360 SF, Maricopa County Assessor
Lot size
11,830 SF, Maricopa County Assessor
Year built
1988, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Buildings on parcel
2, Maricopa County Assessor
Predominant use
Warehousing, Maricopa County Assessor
Assessed value
$754,600, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$224.58/SF, derived from assessor records
Building area / lot
0.28, derived from assessor records
Vintage
1980s vintage
County use code
WAREHOUSING

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $878K (estimated market value), with a likely range of $702K to $1.04M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $754,600 times a 1.16 market ratio, measured from 3891 verified arm's-length sale prices vs county values (single-tenant industrial sales in Phoenix, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 17 comparable sales within 3 miles; nearest 0.2 mi. This property type carries wider measured error; treat the estimate as a starting point. Last arm's-length sale: $315,000 in 2021. The market has moved since; the estimate reflects current county values and ratios, not that price.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 17 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Industrial in Phoenix

median verified sale $195.35/SF over the trailing 24 months; 94 sales in the last 12 months and 180 in 24 (newest verified sale 2026-05); the middle 80% of recent sales traded at 0.95x to 1.67x their county full cash value, median 1.25x (179 sales with usable county values).

  • 2022: $183.33/SF median (113 sales)
  • 2023: $189.80/SF median (95 sales)
  • 2024: $179.49/SF median (106 sales)
  • 2025: $195.35/SF median (108 sales)
  • 2026 YTD: $260.46/SF median (21 sales)

This estimate sits at 1.16x county full cash value, the 35th percentile of those recent sale premiums.

Computed from 1,588 verified arm's-length sales in Maricopa County public records (180 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2021-07-01 for $315,000 (recorded arm's-length sale).

Current ownership dates to 2021 (about 5 years) per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$500K$1M$1.5M2021202320252027Last sold $315K · 2021$878K$755KCounty assessed valueRecorded sale

Dark line: county assessed value per Maricopa County tax rolls. Diamonds: recorded arm's-length sales.

Land, site, and value history

Assessed value moved from $757,800 (2026) to $754,600 (2027), up 0% over 1 years, per county tax rolls. The 2027 roll splits $754,600 into $225,200 land and $529,400 improvements.