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Property profile & analytics
OFF-MARKET
Estimated value
$1,430,000
Office buildings
1650 1st Ave Phoenix, AZ 85003-1124
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-2672121
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Construction
CONCRETE
Total area
3,485 SF
Lot
0.21 ac (9,013 SF)
Zoning code
C-O
APN
118-56-080
UPID
US07-2672121
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
-
Adams & Clark, PC Law Firm
-
David Larkin Law Law Firm
-
David R. Farney, PLC Law Firm
-
Law Offices of Robert S. Murphy, LLC Law Firm
-
Timothy A. Forshey, P.C. Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.43M
Owner & transaction history
Koisrud Real Estate LLC · 1 yrs held
Koisrud Real Estate LLC
since 2024
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
C-O · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+40.8%
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
$1,045,000
Current use
AUTO REPAIR, GARAGE
$1,475,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$1,040,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$925,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$905,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$885,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.43M
Range $1.29M – $1.57M · ±10% · vs last sale $1.60M (Aug 18 2024)
Last sale anchor
$1.60M
Aug 18 2024
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
$410 / 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
$9,395
Tax year 2023
Assessed value
$119,625
Assessed 2024
Previous assessed
$119,625
+0.0% YoY
Effective rate
7.85%
On assessed value
Land market value
$241,500
Improvement market value
$483,500
Total market value
$725,000
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
1930
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
2
Total area
3,485 SF
Lot
0.21 ac (9,013 SF)
Zoning code
C-O
APN
118-56-080
UPID
US07-2672121
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Phoenix, AZ
Zoning C-O · permitted uses
C-O · 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
OFFICE BUILDING Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$925,000
WAREHOUSE, STORAGE
Est. value
$905,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$885,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1930
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Koisrud Real Estate LLC
Entity
Mailing address
5333 N 7TH ST STE A201, PHOENIX, AZ 85014-2804
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2024
$1,600,000
Koisrud Real Estate LLC
Willo Legal Suites LLC
Warranty Deed
$802,300 · Jpmorgan Chase Bank NA
Nov 18, 2024
—
Kolsrud Real Estate LLC
—
Deed
related
$578,000 · The Mortgage Capital Development Corp
Nov 14, 2019
—
Phk Dev LLC
JR Fantin Homes LLC
Quit Claim Deed
related
—
Feb 13, 2019
—
JR Fantin Homes LLC
JR Fantin Homes LLC
Quit Claim Deed
related
—
Aug 29, 2018
$650,000
JR Family Homes LLC
Doris Lichtenstein
Warranty Deed
—
Jul 30, 2018
—
Lichtenstein,doris H Living Trust
Doris H Lichtenstein
Correction Deed
related
—
Nov 18, 2003
$385,000
Willo Legal Sultes LLC
Willow Historic Inv LLC
Grant Deed
related
$488,800 · Sunrise Bank Of Arizona
Sep 16, 2002
$295,000
Willow Historic Investments
Beaumont,arthur E
Grant Deed
—
Mar 17, 2000
—
Arthur E Beaumont
Beaumont,anna M
Quit Claim Deed
related
—
May 12, 1993
$144,000
Arthur Beaumont
Lincoln Companie
Grant Deed
$123,000 · Bank Of America
—
—
Willo Legal Suites LLC
—
Deed Of Trust
related
$476,000 · Greenpoint Mortgage Funding
—
—
Arthur E Beaumont
—
Deed Of Trust
related
$230,000 · Imperial Financial
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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