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Property profile & analytics
OFF-MARKET
Estimated value
$1,475,000
Assisted living facilities
16602 Palisades Blvd Fountain Hills, AZ 85268-3705
Trust Owned
8-yr Hold
Property ID
US07-1484286
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1994
Construction
FRAME
Total area
4,259 SF
Lot
0.37 ac (15,952 SF)
Zoning code
R-3
APN
176-05-993
UPID
US07-1484286
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.48M
Owner & transaction history
Trust Of Kay Phillips · 8 yrs held
Trust Of Kay Phillips
since 2017
7 recorded transactions
Zoning & alternative use
R-3 · Fountain Hills, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The principal purpose R-3 is to provide for multiple family residential developments in locations which are suitable and appropriate, taking into consideration existing conditions, including present use of land, future land use needs, and the availability of public utilities
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
257.83 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.1M
+55.7%
Retail stores
$2.0M
+46.7%
Auto repair, garage
$1.8M
+31.2%
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 Fountain Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fountain Hills 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)
$1,335,000
Current use
COMMERCIAL (GENERAL)
$2,085,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$1,960,000
Change: +47% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,755,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$1,490,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.62M · ±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
$346 / 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
$2,379
Tax year 2023
Assessed value
$82,780
Assessed 2024
Previous assessed
$67,950
+21.8% YoY
Effective rate
2.87%
On assessed value
Land market value
$165,500
Improvement market value
$662,300
Total market value
$827,800
Applied tax rate
982,421.0000
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
Off-Market
Year built
1994
Construction
FRAME
Heating
YES
Cooling
REFRIGERATOR
Stories
1
Rooms
13
Bathrooms
3
Total area
4,259 SF
Lot
0.37 ac (15,952 SF)
Zoning code
R-3
APN
176-05-993
UPID
US07-1484286
Jurisdiction
MARICOPA
Zoning & alternative use
R-3 · Fountain Hills, AZZoning R-3 · permitted uses
R-3 · Fountain Hills, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The principal purpose R-3 is to provide for multiple family residential developments in locations which are suitable and appropriate, taking into consideration existing conditions, including present use of land, future land use needs, and the availability of public utilities
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
257.83 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.5M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1994
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Rooms
13
Bathrooms
3
Lot
0.37 ac
Current owner
From public records · entity-resolved
Trust Of Kay Phillips
Trust
Mailing address
16602 E PALISADES BLVD, FOUNTAIN HILLS, AZ 85268-3705
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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 12, 2017
—
Trust Of Kay Phillips
Kay Phillips
Re-recorded Document
related
—
Dec 22, 2006
$1,200,000
Simona Tolan
Anuca Komerdelj
Warranty Deed
$960,000 · Americas Wholesale Lender
Mar 14, 2005
—
Anuca Komerdelj
Komerdelj,anuca
Quit Claim Deed
related
—
Mar 7, 2005
$485,000
Anuca Komerdelj
Tolis,arthur P
Warranty Deed
$388,000 · Universal Savings Bank
Dec 7, 2004
$435,000
Arthur P Tolis
Zingg,dale E
Warranty Deed
$391,500 · Fieldstone Mortgage Co
Jun 21, 1996
$340,000
Blue Chip Development Co INC
P L L C
Grant Deed
—
—
—
Blue Chip Development Co INC
—
Deed Of Trust
related
$500,000 · Community Bank NA
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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