Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$18,470,000
Medical Office Space
15401 29th Ave 4 Phoenix, AZ 85053-4000
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-0813494
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1988
Construction
CONCRETE
Total area
36,846 SF
Lot
2.76 ac (120,008 SF)
Zoning code
IND.PK.
APN
207-42-205B
UPID
US07-0813494
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
-
Retinal Consultants of Arizona Medical Clinic Ophthalmologist
-
Spectra Eye Institute Medical Clinic Ophthalmologist
-
Dr. Mark Barakat Ophthalmologist
-
David Todd Goldenberg, MD Ophthalmologist
-
Dr. Pravin Dugel Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.54M
Blend (final)
Blend
$18.47M
Owner & transaction history
29th Avenue Az Mob Owner LLC · 5 yrs held
29th Avenue Az Mob Owner LLC
since 2021
Last sale
$18.8M
7 recorded transactions
Zoning & alternative use
IND.PK. · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$25.7M
+162.4%
Restaurant
$19.7M
+101.2%
Auto repair, garage
$15.6M
+59.2%
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)
$25,660,000
Change: +162% · Conversion: Easy
RESTAURANT
$19,675,000
Change: +101% · Conversion: Difficult
AUTO REPAIR, GARAGE
$15,570,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$18.47M
Range $16.62M – $20.32M · ±10% · vs last sale $18.80M (Feb 11 2021)
Last sale anchor
$18.80M
Feb 11 2021
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
$501 / 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
$179,624
Tax year 2023
Assessed value
$1,963,110
Assessed 2024
Previous assessed
$1,731,926
+13.3% YoY
Effective rate
9.15%
On assessed value
Land market value
$1,873,600
Improvement market value
$10,024,039
Total market value
$11,897,639
Applied tax rate
61,300.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
2
Total area
36,846 SF
Lot
2.76 ac (120,008 SF)
Zoning code
IND.PK.
APN
207-42-205B
UPID
US07-0813494
Jurisdiction
MARICOPA
Zoning & alternative use
IND.PK. · Phoenix, AZ
Zoning IND.PK. · permitted uses
IND.PK. · 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
COMMERCIAL (GENERAL)
Est. value
$25.7M
RESTAURANT
Est. value
$19.7M
AUTO REPAIR, GARAGE
Est. value
$15.6M
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
1988
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
2.76 ac
Current owner
From public records · entity-resolved
29th Avenue Az Mob Owner LLC
Entity
Mailing address
5404 WISCONSIN AVE STE #1150, CHEVY CHASE, MD 20815-3596
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2026
—
29th Avenue Az Mob Owner LLC
—
Deed
related
$137,835,000 · Webster Bank NA
Feb 11, 2021
$18,800,000
29th Avenue Az Mob Owner LLC
Mmac Ht II Retinal Phoenix Az LLC
Special Warranty Deed
$76,027,200 · Bmo Harris Bank NA
Jan 25, 2019
—
Mmac Ht II Retinal Phoenix Az
—
Deed
related
$37,815,000 · Bmo Harris Bk NA
Sep 5, 2018
$14,420,000
Mmac Ht II Retinal Phoenix Az LLC
Avenue Greenway LLC
Special Warranty Deed
$30,243,000 · Bmo Harris Bank NA
Jan 7, 2016
$3,961,224
29th Avenue & Greenway LLC
G2 Deer Valley LLC
Special Warranty Deed
$4,288,000 · Wells Fargo Bank NA
Apr 23, 2015
$1,025,000
G2 Deer Valley LLC
Ecovalue INC
Special Warranty Deed
$2,383,200 · Ameritas Life Insurance Corp
Dec 2, 1987
—
Anthony Petrarca
—
Deed Of Trust
related
—
—
—
Mmac Ht II Retinal Phoenix Az
—
Loan Modification
related
$37,815,000 · Bmo Harris Bk NA
—
—
Bally Total Fitness Holding Co
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 15401 29th Ave, Unit 4?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
