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Property profile & analytics
OFF-MARKET
Estimated value
$1,340,000
Office buildings
1405 Thomas Rd, Phoenix, AZ 85014
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US07-1190540
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Construction
CONCRETE
Total area
5,829 SF
Lot
0.44 ac (19,200 SF)
Zoning code
R-5
APN
117-20-041A
UPID
US07-1190540
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
$1.37M
Blend (final)
Blend
$1.34M
Owner & transaction history
Ig Properties LLC · 15 yrs held
Ig Properties LLC
since 2011
7 recorded transactions
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+12.8%
Medical building
$1.5M
+0.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,540,000
Current use
RETAIL STORES
$1,735,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$1,545,000
Change: +0% · Conversion: Easy
WAREHOUSE, STORAGE
$1,515,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,485,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.21M – $1.47M · ±10%
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
$230 / 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
$11,775
Tax year 2023
Assessed value
$138,402
Assessed 2024
Previous assessed
$123,981
+11.6% YoY
Effective rate
8.51%
On assessed value
Land market value
$486,500
Improvement market value
$352,300
Total market value
$838,800
Applied tax rate
81,300.0000
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
1967
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
5,829 SF
Lot
0.44 ac (19,200 SF)
Zoning code
R-5
APN
117-20-041A
UPID
US07-1190540
Jurisdiction
MARICOPA
Zoning & alternative use
R-5 · Phoenix, AZ
Zoning R-5 · permitted uses
R-5 · 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
$1.5M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
OFFICE BUILDING Current
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
1967
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Ig Properties LLC
Entity
Mailing address
2418 E DANBURY RD, PHOENIX, AZ 85032-2425
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2011
$349,740
Ig Properties LLC
National Bank Of Arizona
Special Warranty Deed
$547,000 · Cit Small Business Lending Corp
Nov 19, 2010
$360,000
National Bk Of Az
Barker,mark E
Trustees Deed
related
—
Dec 23, 2005
—
Tang Property LLC
Tang,weiguo & Yinghong
Quit Claim Deed
—
May 20, 2004
$600,000
Weiguo Tang
Melville,richard
Grant Deed
$450,000 · Premier Bank
Dec 1, 2003
$450,000
Richard Melville
Mountain States Capital I LLC
Grant Deed
—
Nov 12, 1999
—
Frank Family LLC
Franz,ronald J
Quit Claim Deed
related
—
Nov 12, 1999
$375,000
Mountain States Capital INC
Franz Family LLC
Trustees Deed
related
$281,250 · Sunrise Bank Of Arizona
—
—
Ig Properties LLC
—
Deed Of Trust
related
$505,000 · Compass Bk
—
—
Tang Property LLC
—
Deed Of Trust
related
—
—
—
Mountain States Capital I LLC
—
Deed Of Trust
related
$30,000 · Us Bank NA
—
—
Mountain States Capital LLC
—
Deed Of Trust
related
$41,793 · Warnicke & Littler Plc
—
—
Tang Property LLC
—
Deed Of Trust
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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