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Property profile & analytics
OFF-MARKET
Estimated value
$3,940,000
Medical Office Space
15425 40th Pl Phoenix, AZ 85044-3746
Entity Owned
27-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-1334040
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Construction
CONCRETE
Total area
10,084 SF
Lot
1.38 ac (59,982 SF)
Zoning code
PCD
APN
301-83-957J
UPID
US07-1334040
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
-
Ironwood Dental Center Dental Office
-
Mountain Park Ranch Homeowners Association Association / Organization
-
Rekindle Relationship Therapy Counselor
-
Dr. Harvey B. Arnce, DDS Dental Office
-
Edward Jones - Financial Advisor: David W Carruth, CFP®|ChFC®|AAMS™ Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.98M
Blend (final)
Blend
$3.94M
Owner & transaction history
Hba & Associates LLC
Hba & Associates LLC
1 recorded transaction
Zoning & alternative use
PCD · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Community District is intended to establish planning and development control parameters while allowing sufficient flexibility to permit final detailed planning at the time of development and to permit and encourage the unified planning of large areas in order to achieve the mixture and variety of land uses which such large scale planning makes po…
Zone name
Planned Community District
General category
UNKNOWN
Zone area
4,977.58 ac
Source
Realmo
Top alternative use upside
Restaurant
$5.4M
+101.2%
Auto repair, garage
$4.3M
+59.2%
Retail stores
$3.0M
+12.3%
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
MEDICAL BUILDING
$2,675,000
Current use
RESTAURANT
$5,385,000
Change: +101% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,260,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$3,005,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,615,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,565,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$3.94M
Range $3.55M – $4.33M · ±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
$391 / 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
$25,391
Tax year 2023
Assessed value
$537,921
Assessed 2024
Previous assessed
$481,933
+11.6% YoY
Effective rate
4.72%
On assessed value
Land market value
$1,438,100
Improvement market value
$1,822,027
Total market value
$3,260,127
Applied tax rate
281,300.0000
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
1998
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Total area
10,084 SF
Lot
1.38 ac (59,982 SF)
Zoning code
PCD
APN
301-83-957J
UPID
US07-1334040
Jurisdiction
MARICOPA
Zoning & alternative use
PCD · Phoenix, AZZoning PCD · permitted uses
PCD · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Community District is intended to establish planning and development control parameters while allowing sufficient flexibility to permit final detailed planning at the time of development and to permit and encourage the unified planning of large areas in order to achieve the mixture and variety of land uses which such large scale planning makes possible
Zone name
Planned Community District
General category
UNKNOWN
Zone area
4,977.58 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.7M
RESTAURANT
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$4.3M
RETAIL STORES
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1998
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Lot
1.38 ac
Current owner
From public records · entity-resolved
Hba & Associates LLC
Entity
Mailing address
2422 E DESERT WILLOW DR, PHOENIX, AZ 85048-9006
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Hba & Associates LLC
—
Deed Of Trust
related
$1,500,000 · Wells Fargo 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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