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Property profile & analytics
FOR LEASE
Office buildings
16605 N 28Th Ave, Phoenix, AZ 85053
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US07-0080305
For Lease
1 / 2
$23 SF/Yr
16605 N 28Th Ave, Phoenix, AZ 85053
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
CONCRETE
Total area
47,722 SF
Lot
4.4 ac (191,523 SF)
Zoning code
IND.PK.
APN
207-42-271
UPID
US07-0080305
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
-
Triad Steel Service LLC Corporate Office
-
Orion Homes, LLC Corporate Office
-
Enghouse Interactive Corporate Office
-
NEW PHASE OF LIFE TREATMENT CENTER PLLC Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.76M
Blend (final)
Blend
$13.66M
Owner & transaction history
Redstone Bell 28 LP · 10 yrs held
Redstone Bell 28 LP
since 2015
6 recorded transactions
Zoning & alternative use
IND.PK. · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$20.2M
+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
$14,320,000
Current use
AUTO REPAIR, GARAGE
$20,165,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$14,220,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$12,665,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$12,385,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$12,145,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$13.66M
Range $12.29M – $15.02M · ±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
$286 / 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
$103,192
Tax year 2023
Assessed value
$1,299,030
Assessed 2024
Previous assessed
$1,491,512
-12.9% YoY
Effective rate
7.94%
On assessed value
Land market value
$2,227,900
Improvement market value
$5,645,012
Total market value
$7,872,912
Applied tax rate
61,300.0000
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
For Lease
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
47,722 SF
Lot
4.4 ac (191,523 SF)
Zoning code
IND.PK.
APN
207-42-271
UPID
US07-0080305
Jurisdiction
MARICOPA
Zoning & alternative use
IND.PK. · Phoenix, AZ
Zoning IND.PK. · permitted uses
IND.PK. · 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
$14.3M
AUTO REPAIR, GARAGE
Est. value
$20.2M
RETAIL STORES
Est. value
$14.2M
MEDICAL BUILDING
Est. value
$12.7M
WAREHOUSE, STORAGE
Est. value
$12.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.1M
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
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
4.4 ac
Current owner
From public records · entity-resolved
Redstone Bell 28 LP
Entity
Mailing address
2011TH 7495TH 132ND SURRY ST XX
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2015
$11,745,000
Redstone Bell 28 LP
Oibp Bell 28 LLC
Special Warranty Deed
$7,000,000 · Citibank NA
Oct 30, 2012
$6,725,000
Oibp Bell 28 LLC
Jpmcc 2006-ldp6 Black Canyon O
Grant Deed
—
Sep 30, 2010
$5,460,000
2006-ldp6 Black Canyon O Jpmcc
Williams,craig K
Trustees Deed
—
Feb 24, 2006
$20,130,000
Ashton Bell 28 Property LLC
Bell 28 Investment Group LLC
Grant Deed
$15,675,000 · Pnc Bank
Mar 31, 2003
$13,000,000
Bell 28 Investments Group LLC
Denali National Trust INC
Grant Deed
$10,125,000 · Lend Lease Mortgage Capital LP
Oct 16, 2002
—
Denali National Trust INC
Denali National Trust INC
Quit Claim Deed
related
$15,000,000 · Compass 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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