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Property profile & analytics
OFF-MARKET
Estimated value
$96,830,000
Parking lots & garages
1850 Central Ave, Phoenix, AZ 85004-4527
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-1664817
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1990
Construction
CONCRETE
Total area
158,199 SF
Lot
4.03 ac (175,384 SF)
Zoning code
C-2
APN
118-56-159
UPID
US07-1664817
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
-
Berry & Associates LLC Law Firm
-
Flynn John P Law Firm Insurance Agency
-
Woods Richard J Law Firm Insurance Agency
-
Burch & Cracchiolo, P.A. Law Firm
-
Joshua D Moya Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$98.63M
Blend (final)
Blend
$96.83M
Owner & transaction history
Crown Investment Company · 1 yrs held
Crown Investment Company
since 2024
2 recorded transactions
Zoning & alternative use
C-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$119.4M
+122.5%
Restaurant
$84.5M
+57.4%
Auto repair, garage
$66.8M
+24.6%
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
COMMERCIAL (GENERAL)
$119,390,000
Change: +122% · Conversion: Difficult
RESTAURANT
$84,480,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$66,845,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$96.83M
Range $87.15M – $106.51M · ±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
$612 / 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
$1,536,784
Tax year 2023
Assessed value
$21,945,637
Assessed 2024
Previous assessed
$21,945,637
+0.0% YoY
Effective rate
7.00%
On assessed value
Land market value
$11,399,900
Improvement market value
$121,603,958
Total market value
$133,003,858
Applied tax rate
11,303.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1990
Construction
CONCRETE
Heating
NONE
Buildings
4
Stories
3
Units
4
Total area
158,199 SF
Lot
4.03 ac (175,384 SF)
Zoning code
C-2
APN
118-56-159
UPID
US07-1664817
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Phoenix, AZ
Zoning C-2 · permitted uses
C-2 · 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
COMMERCIAL (GENERAL)
Est. value
$119.4M
RESTAURANT
Est. value
$84.5M
AUTO REPAIR, GARAGE
Est. value
$66.8M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1990
Construction
CONCRETE
Heating
NONE
Stories
3
Buildings
4
Units
4
Lot
4.03 ac
Current owner
From public records · entity-resolved
Crown Investment Company
Entity
Free & Clear · 1 yrs held
Mailing address
5475 G ST CHINO, CHINO
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2024
$1,350,000
Crown Investment Company
Green Home Rentals LLC
Trustees Deed
related
—
—
—
1850 Central LLC
—
Deed Of Trust
related
$54,000,000 · Metlife R/e Lndg LLC
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
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