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Property profile & analytics
OFF-MARKET
Estimated value
$10,465,000
Flex space
15905 46th St, Phoenix, AZ 85048-7600
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US07-1150060
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2000
Construction
CONCRETE
Total area
26,484 SF
Lot
8.57 ac (373,437 SF)
Zoning code
CP/GCP
APN
307-03-871
UPID
US07-1150060
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
-
horsepropertiesofaz Association Or Organization
-
James Martin Coaching Training Center Tutoring Service
-
Bill McClure Realtor - KW Real Estate Agency
-
At Home Arizona Real Estate Team Real Estate Agency
-
Ahwatukee 48 Business Service Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.49M
Blend (final)
Blend
$10.47M
Owner & transaction history
Ahwa 48 LLC · 10 yrs held
Ahwa 48 LLC
since 2016
7 recorded transactions
Zoning & alternative use
CP/GCP · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.1M
+142.7%
Auto repair, garage
$11.2M
+92.1%
Retail stores
$7.9M
+35.5%
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
RESTAURANT
$14,145,000
Change: +143% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,190,000
Change: +92% · Conversion: Easy
RETAIL STORES
$7,890,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$7,030,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,875,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,740,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$10.47M
Range $9.42M – $11.51M · ±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
$395 / 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
$151,493
Tax year 2023
Assessed value
$2,368,179
Assessed 2024
Previous assessed
$1,999,285
+18.5% YoY
Effective rate
6.40%
On assessed value
Land market value
$6,514,900
Improvement market value
$7,837,700
Total market value
$14,352,600
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
4
Stories
1
Units
4
Total area
26,484 SF
Lot
8.57 ac (373,437 SF)
Zoning code
CP/GCP
APN
307-03-871
UPID
US07-1150060
Jurisdiction
MARICOPA
Zoning & alternative use
CP/GCP · Phoenix, AZ
Zoning CP/GCP · permitted uses
CP/GCP · 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
RESTAURANT
Est. value
$14.1M
AUTO REPAIR, GARAGE
Est. value
$11.2M
RETAIL STORES
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.0M
WAREHOUSE, STORAGE
Est. value
$6.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2000
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Units
4
Lot
8.57 ac
Current owner
From public records · entity-resolved
Ahwa 48 LLC
Entity
Mailing address
2944 N 44TH ST STE #250, PHOENIX, AZ 85018-7290
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2019
—
Mike Johnson Az Prop Invs LLC
—
Deed
related
$320,000 · Clear Choice Fund LLC Clear Choice Fund LLC
Jun 20, 2016
$11,130,000
Ahwa 48 LLC
Enright Ahwatukee LP
Grant Deed
$5,200,000 · Miscellaneous Ins Co
Nov 14, 2012
$6,825,000
Enright Ahwatukee LP
Midfirst Bank
Special Warranty Deed
$4,436,250 · Firstbank
Dec 29, 2011
$6,700,000
Midfirst Bk
Rystad,julie
Trustees Deed
related
—
May 19, 2006
—
Foothills Abf LLC
Foothills Plaza IV LLC
Quit Claim Deed
—
May 19, 2006
$13,400,000
Ahwatukee Foothill Corporate Office
Foothills Plaza IV LLC
Special Warranty Deed
$10,700,000 · Midfirst Bank
Jun 18, 2004
—
Foothills Plaza IV LLC
Foothills Plaza IV LLC
Quit Claim Deed
related
—
Jun 14, 2004
$5,404,416
Foothills Plaza IV LLC
Happy Valley Investment Co
Grant Deed
related
—
Jun 10, 2004
$5,404,416
Happy Valley Investment Co LLC
Foothills Corporate Park L
Grant Deed
related
—
Jun 10, 2004
$2,194,320
Happy Valley Investment Co LLC
Foothills Abf LLC
Grant Deed
related
$9,400,000 · First National Bank Arizona
Feb 26, 2004
$2,084,451
Patrick H Altoff
Foothills Corporate Park L
Grant Deed
related
$3,175,000 · First National Bank Arizona
Feb 26, 2004
—
Foothills Abf LLC
Althoff,patrick H & Patricia L
Grant Deed
related
—
—
—
Mike Johnson Az Prop Invs LLC
—
Deed Of Trust
related
$320,000 · Clear Choice Fund LLC Clear Choice Fund LLC
—
—
Enright Ahwatukee LP
—
Deed Of Trust
related
$5,250,000 · Firstbank
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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