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Property profile & analytics
OFF-MARKET
Estimated value
$3,085,000
Turn key restaurants
1516 Van Buren St Phoenix, AZ 85007-2414
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US07-3311328
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1964
Construction
CONCRETE
Total area
9,507 SF
Lot
1.29 ac (56,381 SF)
Zoning code
C-3
APN
111-26-142C
UPID
US07-3311328
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
-
There Space Studios Music Venue Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.19M
Blend (final)
Blend
$3.09M
Owner & transaction history
Phoenix Gospel Mission INC · 11 yrs held
Phoenix Gospel Mission INC
since 2015
7 recorded transactions
Zoning & alternative use
C-3 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose C-3 zone is to provide to provide for the intensive commercial uses necessary to the proper development of the community
Zone name
General Commercial
General category
COMMERCIAL
Zone area
2,827.55 ac
Source
Realmo
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
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±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
$324 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$19,505
Tax year 2022
Assessed value
$337,003
Assessed 2024
Previous assessed
$249,045
+35.3% YoY
Effective rate
5.79%
On assessed value
Land market value
$1,310,600
Improvement market value
$936,087
Total market value
$2,246,687
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1964
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
9,507 SF
Lot
1.29 ac (56,381 SF)
Zoning code
C-3
APN
111-26-142C
UPID
US07-3311328
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Phoenix, AZZoning C-3 · permitted uses
C-3 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose C-3 zone is to provide to provide for the intensive commercial uses necessary to the proper development of the community
Zone name
General Commercial
General category
COMMERCIAL
Zone area
2,827.55 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1964
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Phoenix Gospel Mission INC
Entity
Mailing address
1468 N 26TH AVE, PHOENIX, AZ 85009-3622
Ownership since
2015
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
Jul 12, 2017
—
Phoenix Gospel Mission INC
—
Deed
related
$3,500,000 · Wells Fargo Bank NA
Jun 30, 2015
$625,000
Phoenix Gospel Mission INC
Comercio Land LLC
Cash Sale Deed
—
May 22, 2012
—
Comercio Land LLC
Comercio Arizona R/e I Cde LLC
Quit Claim Deed
—
Aug 31, 2011
$1,300,000
Comercio Arizona R/e I Cde LLC
King,michael R
Trustees Deed
—
Jun 1, 2009
—
City Of Phoenix
Phoenix Rescue Mission
Quit Claim Deed
related
—
Feb 13, 2008
—
Tres Hermanos INC
—
Trustees Deed
related
$2,425,000 · Comercio Az R/e II Cde LLC
—
—
Tres Hermanos INC
—
Deed Of Trust
related
$1,400,400 · J P Morgan Chase Bank
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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