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Property profile & analytics
OFF-MARKET
Estimated value
$9,835,000
Office buildings
1614 Roosevelt St Phoenix, AZ 85007-2030
Entity Owned
~
Est. High Equity
Property ID
US07-1212618
Property summary
AI-generated overview
This exceptional Phoenix investment opportunity presents a meticulously renovated, 29,212 square foot, multi-tenant executive office building situated on approximately 1.73 to 1.99 acres. Originally constructed in 1958 and extensively renovated in 2015, this Class B property boasts a 6.80% cap rate and an asking price of $4,615,000. The property features abundant parking (2.42 spaces per 1,000 sq ft), a gated yard, and a versatile layout including creative office spaces and functional warehouse areas. Each unit offers private HVAC, polished concrete floors, and LED lighting. Shared amenities include a conference room, break room, and restrooms. The property benefits from its Planned Unit Development (PUD) zoning, allowing for a diverse range of uses. Its historic designation adds unique character and potential eligibility for city incentives. This prime location in Phoenix, AZ (85007), near downtown, offers exceptional accessibility and a blend of historic charm and modern functionality. The property's APN is 111-16-065A.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1958
Construction
CONCRETE
Total area
19,317 SF
Lot
1.99 ac (86,737 SF)
Zoning code
PUD
APN
111-16-065B
UPID
US07-1212618
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
-
My Rental Superstore Property Management Company
-
Sapphyr 360 Marketing & Advertising (Bike/Boat/Book/etc) Store
-
The Armory Coworking & Hybrid Office
-
Karianne Munstedt Portrait Photography Service (Bike/Boat/Book/etc) Store
-
Spectacle Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.83M
Blend (final)
Blend
$9.84M
Owner & transaction history
Gus LLC
Gus LLC
since 2025
7 recorded transactions
Zoning & alternative use
PUD · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Unit Development is intended to create a built environment that is superior to that produced by conventional zoning districts and design guidelines
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
17,457.92 ac
Source
Realmo
Top alternative use upside
Restaurant
$10.3M
+39.9%
Auto repair, garage
$8.2M
+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
$7,375,000
Current use
RESTAURANT
$10,315,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,160,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$9.84M
Range $8.85M – $10.82M · ±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
$509 / 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
$56,079
Tax year 2023
Assessed value
$1,152,228
Assessed 2024
Previous assessed
$659,124
+74.8% YoY
Effective rate
4.87%
On assessed value
Land market value
$3,035,700
Improvement market value
$3,947,500
Total market value
$6,983,200
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
1958
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
2
Units
2
Total area
19,317 SF
Lot
1.99 ac (86,737 SF)
Zoning code
PUD
APN
111-16-065B
UPID
US07-1212618
Jurisdiction
MARICOPA
Zoning & alternative use
PUD · Phoenix, AZZoning PUD · permitted uses
PUD · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Unit Development is intended to create a built environment that is superior to that produced by conventional zoning districts and design guidelines
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
17,457.92 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.4M
RESTAURANT
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$8.2M
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
1958
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
3
Units
2
Lot
1.99 ac
Current owner
From public records · entity-resolved
Gus LLC
Entity
Mailing address
340 S LEMON AVE #4320, WALNUT, CA 91789-2706
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2025
$5,100,000
Gus LLC
Armory Partners LLC
Special Warranty Deed
$4,080,000 · Umb Bank NA
Sep 11, 2019
—
Armory Partners LLC
Armory Partners LLC
Correction Deed
related
—
Aug 9, 2019
—
Armory Partners LLC
Roosevelt Partners LLC
Warranty Deed
$1,600,000 · Miscellaneous Ins Co
Mar 19, 2019
—
Rooseveh Partners LLC
Armory Partners LLC
Quit Claim Deed
related
—
Mar 29, 2018
—
Armory Partners LLC
—
Deed
related
$1,030,000 · Freedom Fin'l Debt Fund I LP
Dec 14, 2016
—
Armory Partners LLC
State Of Arizona
Quit Claim Deed
related
$780,000 · Freedom Financial Debt Fund I LP
—
—
Armory Partners LLC
—
Loan Modification
related
$1,030,000 · Freedom Fin'l Debt Fund I LP
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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