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Property profile & analytics
OFF-MARKET
Estimated value
$78,020,000
Office buildings
1600 Monroe St Phoenix, AZ 85007-2612
Individually Owned
4-yr Hold
Free & Clear
Property ID
US07-0600382
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
STEEL FRAME
Total area
169,778 SF
Lot
2.07 ac (89,995 SF)
Zoning code
R-5
APN
112-02-044A
UPID
US07-0600382
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
-
Arizona Department of Revenue State Government Office Tax Department
-
ATM Atm Cars
-
Unclaimed Property Local Government Office
-
Revenue Department-Property Tax Tax Department
-
Mr Jay's Snackbar Inc Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$78.02M
Blend (final)
Blend
$78.02M
Owner & transaction history
State Of Arizona · 4 yrs held
State Of Arizona
since 2021
2 recorded transactions
Zoning & alternative use
R-5 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of R-5 is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes
Zone name
Multifamily Residence Restricted Commercial
General category
COMMERCIAL
Zone area
4,750.37 ac
Source
Realmo
Top alternative use upside
Restaurant
$90.7M
+39.9%
Auto repair, garage
$71.7M
+10.7%
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
OFFICE BUILDING
$64,825,000
Current use
RESTAURANT
$90,665,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$71,740,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$78.02M
Range $70.22M – $85.82M · ±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
$460 / 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
Assessed value
$7,836,540
Assessed 2024
Previous assessed
$6,535,425
+19.9% YoY
Land market value
$1,817,000
Improvement market value
$50,426,600
Total market value
$52,243,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
3
Stories
9
Units
3
Total area
169,778 SF
Lot
2.07 ac (89,995 SF)
Zoning code
R-5
APN
112-02-044A
UPID
US07-0600382
Jurisdiction
MARICOPA
Zoning & alternative use
R-5 · Phoenix, AZZoning R-5 · permitted uses
R-5 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of R-5 is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes
Zone name
Multifamily Residence Restricted Commercial
General category
COMMERCIAL
Zone area
4,750.37 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$64.8M
RESTAURANT
Est. value
$90.7M
AUTO REPAIR, GARAGE
Est. value
$71.7M
OFFICE BUILDING Current
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
1987
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
9
Buildings
3
Units
3
Lot
2.07 ac
Current owner
From public records · entity-resolved
State Of Arizona
Individual
Free & Clear · 4 yrs held
Mailing address
100 N 15TH AVE STE #401, PHOENIX, AZ 85007-2636
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2021
—
State Of Arizona
U S Bank National Association
Special Warranty Deed
—
Jan 26, 2010
—
Us Bank NA Series 2010a
State Of Arizona
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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