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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Warehouses
1955 Grovers Ave Phoenix, AZ 85022-2176
Entity Owned
1-yr Hold
Property ID
US07-0921139
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1986
Construction
STEEL FRAME
Total area
1,550 SF
Lot
4.54 ac (197,886 SF)
Zoning code
R-2
APN
214-09-001
UPID
US07-0921139
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
-
K9GH (Bike/Boat/Book/etc) Store Pet Store & Service
-
Grover Terrace MHC Campground & RV Park
-
Annuity Advisors Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$678k
Blend (final)
Blend
$670k
Owner & transaction history
Grover Terrace Mhc LLC · 1 yrs held
Grover Terrace Mhc LLC
since 2024
4 recorded transactions
Zoning & alternative use
R-2 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of R-2 zone is to provide multi family residence districts is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes
Zone name
Multifamily Residence
General category
RESIDENTIAL
Zone area
6,548.21 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.1M
+168.3%
Auto repair, garage
$655,000
+62.8%
Office building
$465,000
+15.6%
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
WAREHOUSE, STORAGE
$400,000
Current use
COMMERCIAL (GENERAL)
$1,080,000
Change: +168% · Conversion: Difficult
AUTO REPAIR, GARAGE
$655,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$465,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$460,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$410,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$432 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$9,253
Tax year 2022
Assessed value
$151,987
Assessed 2024
Previous assessed
$151,987
+0.0% YoY
Effective rate
6.09%
On assessed value
Land market value
$1,295,700
Improvement market value
$224,171
Total market value
$1,519,871
Applied tax rate
691,300.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
1,550 SF
Lot
4.54 ac (197,886 SF)
Zoning code
R-2
APN
214-09-001
UPID
US07-0921139
Jurisdiction
MARICOPA
Zoning & alternative use
R-2 · Phoenix, AZZoning R-2 · permitted uses
R-2 · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of R-2 zone is to provide multi family residence districts is to provide for alternate living styles including rental, condominiums and single ownership of land with multiple units thereon or single or attached townhomes
Zone name
Multifamily Residence
General category
RESIDENTIAL
Zone area
6,548.21 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$400,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$655,000
OFFICE BUILDING
Est. value
$465,000
RETAIL STORES
Est. value
$460,000
MEDICAL BUILDING
Est. value
$410,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1986
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
4.54 ac
Current owner
From public records · entity-resolved
Grover Terrace Mhc LLC
Entity
Mailing address
PO BOX 2596, EAGLE, ID 83616-9120
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2024
—
Grover Terrace Mhc LLC
Grover Terrace LLC
Re-recorded Document
related
$1,067,000 · Wells Fargo Bank NA
Jul 11, 2014
$887,500
Grover Terrace Mhc LLC
Grover Terrace LLC
Warranty Deed
—
Jan 9, 2002
—
Petzke Trust
Petzke,jane E
Quit Claim Deed
related
—
Dec 9, 1992
—
Jane E Petzke
Petzke
Quit Claim Deed
related
—
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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