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Property profile & analytics
OFF-MARKET
Estimated value
$1,430,000
Retail space
1505 Central Ave Phoenix, AZ 85004-1613
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-0959523
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
CONCRETE
Total area
5,685 SF
Lot
0.18 ac (7,872 SF)
Zoning code
DTC-GTWY
APN
111-35-064B
UPID
US07-0959523
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
-
Carbuyrs Llc Auto Repair Shop Auto Parts Store
-
Cire Wealth Advisory Group, LLC Insurance Agency
-
Loehrs Forensics Consultant
-
Circa Central Avenue Real Estate Agency
-
Cire Consulting Agency Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$1.43M
Owner & transaction history
Circa Central Avenue Apartments LLC · 6 yrs held
Circa Central Avenue Apartments LLC
since 2020
7 recorded transactions
Zoning & alternative use
DTC-GTWY · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+1.4%
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
RETAIL STORES
$1,695,000
Current use
OFFICE BUILDING
$1,720,000
Change: +1% · Conversion: Easy
MEDICAL BUILDING
$1,510,000
Change: -11% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,475,000
Change: -13% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,445,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$1.43M
Range $1.29M – $1.57M · ±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
$252 / 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
Assessed value
$151,368
Assessed 2024
Previous assessed
$123,105
+23.0% YoY
Land market value
$787,200
Improvement market value
$221,922
Total market value
$1,009,122
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
1950
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
5,685 SF
Lot
0.18 ac (7,872 SF)
Zoning code
DTC-GTWY
APN
111-35-064B
UPID
US07-0959523
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-GTWY · Phoenix, AZ
Zoning DTC-GTWY · permitted uses
DTC-GTWY · 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
RETAIL STORES Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RETAIL STORES Current
OFFICE BUILDING
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
1950
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Circa Central Avenue Apartments LLC
Entity
Mailing address
200 W WASHINGTON ST, PHOENIX, AZ 85003-1611
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2020
$57,500,000
Circa Central Avenue Apartments LLC
Phoenix Central Owner LLC
Special Warranty Deed
$31,625,000 · Nationwide Life Insurance Company
Mar 20, 2017
—
Phoenix Central Owner LLC
Phoenix Central Owner LLC
Quit Claim Deed
related
—
Mar 1, 2017
$4,538,680
Phoenix Central Owner LLC
Sw Central LLC
Grant Deed
$27,385,000 · Johnson Bk
Jan 7, 2008
$7,000,000
Sw Central LLC
Migdal,harvey J
Grant Deed
—
Jun 27, 2006
—
City Of Phoenix
Owner Name Unavailable
Grant Deed
related
—
Feb 21, 2006
—
City Of Phoenix
Migdal,harvey J
Warranty Deed
related
—
—
—
Sw Central LLC
—
Loan Modification, Consolidation And Extension
related
—
—
—
Sw Central LLC
—
Deed Of Trust
related
$5,000,000 · Wells Fargo Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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