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Property profile & analytics
OFF-MARKET
Estimated value
$9,255,000
Motels
1635 Scottsdale Rd Tempe, AZ 85288-1565
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-1535023
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1970
Construction
CONCRETE
Total area
12,954 SF
Lot
3.12 ac (135,907 SF)
Zoning code
M-H
APN
132-05-105A
UPID
US07-1535023
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
-
comercia theater Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.42M
Blend (final)
Blend
$9.26M
Owner & transaction history
Hk 24th Street LLC · 6 yrs held
Hk 24th Street LLC
since 2019
7 recorded transactions
Zoning & alternative use
M-H · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
zoning and development code
Top alternative use upside
Restaurant
$9.0M
+75.1%
Auto repair, garage
$8.9M
+72.7%
Retail stores
$6.8M
+32.3%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
$9,030,000
Change: +75% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,905,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$6,820,000
Change: +32% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,505,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$9.26M
Range $8.33M – $10.18M · ±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
$714 / 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
$90,599
Tax year 2023
Assessed value
$1,198,214
Assessed 2024
Previous assessed
$979,353
+22.3% YoY
Effective rate
7.56%
On assessed value
Land market value
$2,828,400
Improvement market value
$4,433,500
Total market value
$7,261,900
Applied tax rate
31,600.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1970
Construction
CONCRETE
Heating
NONE
Buildings
7
Stories
3
Units
135
Total area
12,954 SF
Lot
3.12 ac (135,907 SF)
Zoning code
M-H
APN
132-05-105A
UPID
US07-1535023
Jurisdiction
MARICOPA
Zoning & alternative use
M-H · Tempe, AZZoning M-H · permitted uses
M-H · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
zoning and development code
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$8.9M
RETAIL STORES
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.5M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1970
Construction
CONCRETE
Heating
NONE
Stories
3
Buildings
7
Units
135
Lot
3.12 ac
Current owner
From public records · entity-resolved
Hk 24th Street LLC
Entity
Mailing address
5208 N 24TH ST, PHOENIX, AZ 85016-3519
Ownership since
2019
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
Oct 17, 2022
—
Hk 24th Street LLC
—
Deed
related
$10,000,000 · Mountain America FCU
Oct 11, 2019
$10,000,000
Hk 24th Street LLC
Kings House INC
Trustees Deed
$5,500,000 · Poppy Bk
May 1, 2013
—
Kings House INC
—
Deed Of Trust
related
$1,468,331 · Stockton Investments LLC
Aug 12, 1993
—
Cathay Enterprises INC
Huang Trust
Grant Deed
$700,000 · First Interstate Mortgage Co
Mar 12, 1993
$1,250,000
Cathay Enterprises INC
Huang Trust
Grant Deed
—
Apr 10, 1992
$2,784,000
Samuel Huang
Papago Propertie
Grant Deed
—
—
—
Kings House INC
—
Deed Of Trust
related
$4,200,000 · Commonwealth Business Bank
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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