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Property profile & analytics
FOR SALE
Assisted living facilities
1620 North 48Th St, Phoenix, AZ 85008
Entity Owned
5-yr Hold
Free & Clear
Property ID
US07-2651827
For Sale
1 / 11
$4,000,000
1620 North 48Th St, Phoenix, AZ 85008
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Property summary
AI-generated overview
This exceptional Class A medical office building, totaling 6,233 square feet, presents a unique investment opportunity in Phoenix, Arizona. Situated on a 27,443 square foot lot at 1620 N 48th St, 85008, this single-story building boasts 8 ensuite residential care rooms with potential for expansion to 10 rooms. Built in 2002 and renovated in 2019, the property features five private offices, two conference rooms, two nursing stations, a kitchen, walk-in pantry, laundry facilities, public restrooms, a foyer, and a large central great room with a dining area. The property includes 20 parking spaces, including covered options, and benefits from its location adjacent to the Old Crosscut Canal green belt. Currently operating at 100% occupancy under a NNN lease (expiring 09/30/2024), this sale-leaseback opportunity offers a strong return on investment. The lease is currently being written to an entity related to the owners
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2002
Construction
CONCRETE
Total area
6,233 SF
Lot
0.47 ac (20,485 SF)
Zoning code
C-2
APN
126-10-125D
UPID
US07-2651827
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
-
Serenity House Nursing Home
-
Michele Bishop, PHD Physician Medical Clinic
-
Nana Hope Hospice Nursing Home
-
Emily Barba Physician Medical Clinic
-
Nikitshia Corzo Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.04M
Blend (final)
Blend
$2.04M
Owner & transaction history
Mcdowell 470 LLC · 5 yrs held
Mcdowell 470 LLC
since 2021
5 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+135.7%
Auto repair, garage
$2.6M
+86.5%
Office building
$1.9M
+32.9%
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$1,410,000
Current use
RESTAURANT
$3,330,000
Change: +136% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,635,000
Change: +87% · Conversion: Difficult
OFFICE BUILDING
$1,875,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$1,655,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,620,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,585,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$2.04M
Range $1.84M – $2.24M · ±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
$327 / 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
$21,390
Tax year 2023
Assessed value
$286,990
Assessed 2024
Previous assessed
$286,990
+0.0% YoY
Effective rate
7.45%
On assessed value
Land market value
$344,000
Improvement market value
$1,395,333
Total market value
$1,739,333
Applied tax rate
311,300.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
For Sale
Year built
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
6,233 SF
Lot
0.47 ac (20,485 SF)
Zoning code
C-2
APN
126-10-125D
UPID
US07-2651827
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$1.4M
RESTAURANT
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.6M
OFFICE BUILDING
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2002
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Mcdowell 470 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
13236 N 7TH ST STE B4-299, PHOENIX, AZ 85022-5343
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2021
—
Mcdowell 470 LLC
Charles I Friedman
Special Warranty Deed
—
Jul 28, 2020
—
1620 N 48 Street LLC
Anthony E Deprima
Grant Deed
—
Jul 1, 2020
$2,175,000
Anthony E Deprima
Elite Performance LLC
Grant Deed
—
Nov 17, 2017
$800,000
Elite Performance LLC
De Nocker,trust
Grant Deed
—
Mar 8, 2007
$1,050,000
Denocker Trust
Fountainhead Dev LLC
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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