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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Office buildings
1117 3rd St, Phoenix, AZ 85004-1811
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-3124741
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Construction
CONCRETE
Total area
3,738 SF
Lot
0.32 ac (13,810 SF)
Zoning code
DTC-E-EV
APN
111-38-103
UPID
US07-3124741
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
-
AxiomEHR (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.69M
Blend (final)
Blend
$1.50M
Owner & transaction history
1117 North 3rd LLC · 1 yrs held
1117 North 3rd LLC
since 2025
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
DTC-E-EV · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+39.8%
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
$1,970,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,140,000
6.5%
$1,050,000
7%
$975,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,130,000
Current use
AUTO REPAIR, GARAGE
$1,580,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$1,115,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$990,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$970,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$950,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.30M (Feb 13 2025)
Last sale anchor
$1.30M
Feb 13 2025
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
$401 / 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
$15,787
Tax year 2023
Assessed value
$266,862
Assessed 2024
Previous assessed
$222,071
+20.2% YoY
Effective rate
5.92%
On assessed value
Land market value
$1,381,000
Improvement market value
$236,343
Total market value
$1,617,343
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1962
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
3,738 SF
Lot
0.32 ac (13,810 SF)
Zoning code
DTC-E-EV
APN
111-38-103
UPID
US07-3124741
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-E-EV · Phoenix, AZ
Zoning DTC-E-EV · permitted uses
DTC-E-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
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$990,000
WAREHOUSE, STORAGE
Est. value
$970,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$950,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1962
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
1117 North 3rd LLC
Entity
Mailing address
82 S STONE AVE, TUCSON, AZ 85701-1713
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2025
$1,300,000
1117 North 3rd LLC
Cope Properties LLC
Special Warranty Deed
$651,035 · Bell Bank
Feb 13, 2025
—
1117 North 3rd LLC
—
Deed
related
$537,000 · The Mortgage Capital Development Corp
Jul 17, 2014
—
Cope Properties LLC
Health Information Mgmt System
Grant Deed
—
Aug 6, 2013
$520,000
Health Information Mgmt Sys
1117 N 3rd St LLC
Grant Deed
—
May 30, 2012
$399,962
1117 N 3rd Street LLC
Minkin Ethan B
Trustees Deed
related
—
Jan 3, 2012
—
Ci INC
Jenkins-simon,melissa D
Warranty Deed
—
Nov 25, 2003
$575,000
Ci INC
Thelen Pollick Equities LLC
Grant Deed
$460,000 · Irwin Union Bank Fsb
Jan 23, 1998
$210,000
Thelen Pollick Equities LLC
Rocky Mountain Research LLC
Grant Deed
related
$324,000 · Bank Of Arizona
Feb 8, 1994
$145,382
Mountain L C Rocky Research
Rocky Mountain R
Quit Claim Deed
related
—
—
—
Melissa D Jenkins-simon
—
Deed Of Trust
related
$100,000 · Ansermo & Michelle Arthur
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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