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Property profile & analytics
OFF-MARKET
Estimated value
$8,320,000
Drug stores
1525 Central Ave Phoenix, AZ 85004-1646
Entity Owned
12-yr Hold
Free & Clear
Property ID
US07-2662323
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2002
Construction
CONCRETE
Total area
15,228 SF
Lot
1.45 ac (63,351 SF)
Zoning code
DTC-GTWY
APN
111-35-105B
UPID
US07-2662323
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
Coinstar Bank Credit Union
-
CVS Pharmacy Pharmacy
-
CVS Pharmacy
-
Cardtronics ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.39M
Blend (final)
Blend
$8.32M
Owner & transaction history
Smith Canyon Properties LLC · 12 yrs held
Smith Canyon Properties LLC
since 2014
2 recorded transactions
Zoning & alternative use
DTC-GTWY · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Downtown Gateway should be a high-density, vibrant corridor with a mix of residential and commercial development designed for transit riders
Zone name
Downtown Code Gateway
General category
COMMERCIAL
Zone area
82.42 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$11.5M
+153.3%
Restaurant
$8.1M
+79.2%
Auto repair, garage
$6.4M
+41.8%
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
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
COMMERCIAL (GENERAL)
$11,490,000
Change: +153% · Conversion: Easy
RESTAURANT
$8,130,000
Change: +79% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,435,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$8.32M
Range $7.49M – $9.15M · ±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
$546 / 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
$86,713
Tax year 2022
Assessed value
$1,113,750
Assessed 2024
Previous assessed
$1,113,750
+0.0% YoY
Effective rate
7.79%
On assessed value
Land market value
$5,384,800
Improvement market value
$1,365,200
Total market value
$6,750,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
15,228 SF
Lot
1.45 ac (63,351 SF)
Zoning code
DTC-GTWY
APN
111-35-105B
UPID
US07-2662323
Jurisdiction
MARICOPA
Zoning & alternative use
DTC-GTWY · Phoenix, AZZoning 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
Zoning description
The Downtown Gateway should be a high-density, vibrant corridor with a mix of residential and commercial development designed for transit riders
Zone name
Downtown Code Gateway
General category
COMMERCIAL
Zone area
82.42 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$11.5M
RESTAURANT
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$6.4M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.45 ac
Current owner
From public records · entity-resolved
Smith Canyon Properties LLC
Entity
Free & Clear · 12 yrs held
Mailing address
1525 N CENTRAL AVE, PHOENIX, AZ 85004-1646
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2014
—
Smith Canyon Properties LLC
A Smith Properties LLC
Quit Claim Deed
—
Dec 24, 2002
$5,300,000
A Smith Properties LLC
Central & Mcdowell LLC
Grant Deed
—
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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