New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Retail space
1025 2nd St Phoenix, AZ 85004
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-2529059
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Construction
CONCRETE
Total area
1,899 SF
Lot
0.22 ac (9,750 SF)
Zoning code
DTC-W-EV
APN
111-36-044A
UPID
US07-2529059
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sottise Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.19M
Owner & transaction history
The Knip Bldg LLC · 5 yrs held
The Knip Bldg LLC
since 2021
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
DTC-W-EV · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+153.3%
Auto repair, garage
$800,000
+41.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,080,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,435,000
Change: +153% · Conversion: Easy
AUTO REPAIR, GARAGE
$800,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±10% · vs last sale $1.40M (Mar 16 2021)
Last sale anchor
$1.40M
Mar 16 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$627 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,918
Tax year 2023
Assessed value
$208,404
Assessed 2024
Previous assessed
$171,173
+21.8% YoY
Effective rate
7.64%
On assessed value
Land market value
$975,000
Improvement market value
$288,057
Total market value
$1,263,057
Applied tax rate
11,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1930
Construction
CONCRETE
Heating
NONE
Stories
2
Total area
1,899 SF
Lot
0.22 ac (9,750 SF)
Zoning code
DTC-W-EV
APN
111-36-044A
UPID
US07-2529059
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-W-EV · Phoenix, AZ
Zoning DTC-W-EV · permitted uses
DTC-W-EV · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$800,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1930
Construction
CONCRETE
Heating
NONE
Stories
2
Lot
0.22 ac
Current owner
From public records · entity-resolved
The Knip Bldg LLC
Entity
Mailing address
1132 W TURNEY AVE, PHOENIX, AZ 85013-2835
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2021
$1,400,000
The Knip Bldg LLC
Ro2 Knipe House LLC
Special Warranty Deed
$1,350,000 · The Lewis Family Trust
Sep 17, 2020
—
Ro2 Knipe House LLC
—
Deed
related
$760,000 · Baljj Hldgs I LLC
Jan 14, 2020
—
Ro2 Knipe House LLC
—
Deed
related
$760,000 · Baljj Holdings 1 LLC
Dec 13, 2018
—
Ro2 Knipe House LLC
True North Holdings LLC
Grant Deed
$760,000 · Baljj Holdings 1 LLC
Sep 19, 2018
—
True North Holdings LLC
City Of Phoenix
Grant Deed
related
—
Aug 29, 2018
—
City Of Phoenix
City Of Phoenix
Correction Deed
related
—
Jun 28, 2018
—
City Of Phoenix
City Of Phoenix
Correction Deed
related
—
—
—
Ro2 Knipe House LLC
—
Loan Modification
related
$760,000 · Baljj Holdings 1 LLC
—
—
Ro2 Knipe House LLC
—
Loan Modification
related
$760,000 · Baljj Hldgs I LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1025 2nd St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
