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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Turn key restaurants
1628 Southern Ave Phoenix, AZ 85040-3534
Entity Owned
4-yr Hold
Free & Clear
Property ID
US07-0176497
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1950
Construction
CONCRETE
Total area
2,511 SF
Lot
0.81 ac (35,284 SF)
Zoning code
C-C
APN
122-49-174
UPID
US07-0176497
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
-
Carniceria Manzanillo Grocery & Convenience Store
-
Carniceria Mr Muuu Take-out & Catering Butcher
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$983k
Blend (final)
Blend
$840k
Owner & transaction history
Dos Amigos Properties LLC · 4 yrs held
Dos Amigos Properties LLC
since 2021
Last sale
$840,000
7 recorded transactions
Zoning & alternative use
C-C · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$840,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,340,000
Current use
COMMERCIAL (GENERAL)
$1,305,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $840k (Dec 7 2021)
Last sale anchor
$840k
Dec 7 2021
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
$335 / 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
$8,946
Tax year 2023
Assessed value
$103,938
Assessed 2024
Previous assessed
$90,627
+14.7% YoY
Effective rate
8.61%
On assessed value
Land market value
$417,300
Improvement market value
$212,628
Total market value
$629,928
Applied tax rate
661,300.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1950
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
2,511 SF
Lot
0.81 ac (35,284 SF)
Zoning code
C-C
APN
122-49-174
UPID
US07-0176497
Jurisdiction
MARICOPA
Zoning & alternative use
C-C · Phoenix, AZ
Zoning C-C · permitted uses
C-C · 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 Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.3M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1950
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Dos Amigos Properties LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1 W CAMPBELL AVE APT #2029, PHOENIX, AZ 85013-4911
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2021
$840,000
Dos Amigos Properties LLC
Jose Alfredo Armenta
Warranty Deed
—
Dec 7, 2021
—
Jose Alfredo Armenta
Felipe Barrios Santiago
Warranty Deed
—
Oct 23, 2018
—
Jose A Armenta
Armenta,maria
Quit Claim Deed
related
—
Jun 21, 2016
—
Felipe B Santiago
Armenta,maria
Grant Deed
—
Aug 12, 2005
$265,000
Maria Armenta
Harris,freddie & Minnie P
Warranty Deed
$185,500 · Interbay Funding LLC
Apr 9, 2002
$200,000
Freddie Harris
Ahumada,eleck
Grant Deed
$70,656 · Eleck Ahumada
Apr 13, 1998
$165,000
Eleck Ahumada
Rees,frank E & Clythel
Grant Deed
$125,000 · Seller
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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