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Property profile & analytics
OFF-MARKET
Office buildings
111 Belmont Dr Avondale, AZ 85323-2323
Individually Owned
7-yr Hold
Free & Clear
Property ID
US07-1139468
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1945
Construction
STEEL FRAME
Total area
875 SF
Lot
0.07 ac (3,005 SF)
Zoning code
OTAB
APN
500-44-013
UPID
US07-1139468
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ivan Castillo · 7 yrs held
Ivan Castillo
since 2018
7 recorded transactions
Zoning & alternative use
OTAB · Avondale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
100' Parking Setback from Residential District or Use* 25' 25' 25' 25' 25' Maximum Accessory Structure Height 15' 15' 15' 15' 15' * Not applicable to manufactured home parks. 28-57 - Old Town Avondale Business District (OTAB). (a) Purpose. The purpose of the Old Town Avondale Business District (OTAB) is to further the revitalization of the city's original to…
Zone name
Old Town Avondale Business
General category
COMMERCIAL
Zone area
29.52 ac
Source
code of ordinances
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 Avondale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Avondale 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,241
Tax year 2023
Assessed value
$20,149
Assessed 2024
Previous assessed
$16,286
+23.7% YoY
Effective rate
6.16%
On assessed value
Land market value
$46,400
Improvement market value
$75,714
Total market value
$122,114
Applied tax rate
440,103.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1945
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
875 SF
Lot
0.07 ac (3,005 SF)
Zoning code
OTAB
APN
500-44-013
UPID
US07-1139468
Jurisdiction
MARICOPA
Zoning & alternative use
OTAB · Avondale, AZZoning OTAB · permitted uses
OTAB · Avondale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
100' Parking Setback from Residential District or Use* 25' 25' 25' 25' 25' Maximum Accessory Structure Height 15' 15' 15' 15' 15' * Not applicable to manufactured home parks. 28-57 - Old Town Avondale Business District (OTAB). (a) Purpose. The purpose of the Old Town Avondale Business District (OTAB) is to further the revitalization of the city's original town site and its immediate vicinity by encouraging pedestrian-oriented development an
Zone name
Old Town Avondale Business
General category
COMMERCIAL
Zone area
29.52 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1945
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Ivan Castillo
Individual
Free & Clear · 7 yrs held
Mailing address
111 E WESTERN AVE, AVONDALE, AZ 85323-2328
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2018
—
Ivan Castillo
Liliana Castillo
Intrafamily Transfer
related
—
Feb 13, 2018
—
Liliana Castillo
Lakeside Reo Ventures LLC
Re-recorded Document
related
—
Jun 27, 2016
$56,000
Liliana Castillo
Lakeside Reo Ventures LLC
Cash Sale Deed
—
May 26, 2016
—
Lakeside Reo Ventures LLC
Arturo Busto
Legal Action/court Order
related
—
Jul 16, 2014
—
Arturo Bustos
Bustos,rocio
Quit Claim Deed
related
—
Jun 14, 2005
$205,000
Arturo Bustos
Maihofer,david & Beverly
Warranty Deed
$155,000 · David & Beverly Maihofer
Oct 18, 2001
—
David Maihofer
Litchfield Construction Co
Quit Claim Deed
related
—
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.
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